Deere and Company says it's agriculture and turf sales fell 25 per cent in the fourth quarter.
It's forecasting worldwide sales of it's agriculture and turf equipment will fall by about 8 per cent for the fiscal-year 2016.
Deere says industry sales for agricultural equipment in the U-S and Canada are expected to be down 15 to 20 per cent for 2016 - with the biggest declines in higher-horsepower models.
The company blames low commodity prices and stagnant farm incomes.
Deere reports an overall drop in net income for fiscal 2015 of about 1.2 billion dollars from 2014.
CEO Samuel Allen remains optimistic, pointing out the lower overall equipment sales numbers were still the sixth-highest in the company's history.
