“Demand for row crop tractors in 2025 is expected to be down less than the overall industry forecast, with Deere shipments decreasing even less as production levels rebound to align with retail demand following our high single-digit underproduction for row crop tractors in 2024.”

In context

“ers in North America, and our combine early order program had just begun. As an update, our sprayer program concluded down from 2024, declining in line with our industry guide for North American large ag, and setting 2025 production levels for sprayers below mid-cycle. Planters, on the other hand, experienced a more significant decline, closing with a year-over-year reduction greater than what we saw in sprayers. Finally, combines will complete the second of three early order program phases next week, and when this program closes at the end of January, we expect the product line to be down in a range similar to the reduction we've seen in sprayers. North American tractors are managed on a rolling order basis, with row crop tractor order books full through the middle of the second quarter. Demand for row crop tractors in 2025 is expected to be down less than the overall industry forecast, with Deere shipments decreasing even less as production levels rebound to align with retail demand following our high single-digit underproduction for row crop tractors in 2024. Conversely, demand for four-wheel-drive tractors in 2025 is expected to decline year-over-year more than the industry guide, but as a reminder, that product line actually saw increased demand in 2024. It's worth noting here that our order books for our newest tractor, the high horsepower 9RX, which we introduced last February at Commodity Classic, are currently full through the middle of the fourth quarter, underscoring the value that we're bringing to the market and the importance of continued investment in our core product lines. Cory Reed: Hey, Josh. This is Cory. I'd like to jump in here to highlight the efforts of our Canadian team and customers. We've seen significant competitive conversions in this market post our smart industrial redesign, which is focused on supporting the produc”