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The world’s biggest farm machinery maker said in a statement to Bloomberg that it “has kept focus on supporting our customers and helping them build for the long haul.” 

The weak outlook for the maker of iconic green and yellow tractors comes as farmers have been hit hard by low crop prices and President Donald Trump’s tariff policies.

The world’s biggest farm machinery maker pared its full-year earnings outlook with lower grain prices curbing farmers’ spending.

World farm machinery leader John Deere said the agriculture economy is finally showing signs of turning around, although looming tariffs could upend the nascent recovery.

The challenge to ease the burden on growers is prompted by rising demand for food and materials, with an increasing world population but a shrinking number of farmers and laborers.

Sales of agricultural tractors continued their decline in October, with U.S. sales falling about 14% from the previous year, the Association of Equipment Manufacturers said in a report.

Deere said it boosted its workforce when demand surged during the COVID-19 pandemic, which roiled supply chains, only for the farm economy to start slowing.

Deere & Co. unexpectedly maintained its annual profit outlook as the world’s top tractor maker sought to cut costs in a slumping farm economy.

Deere’s fiscal second-quarter results beat Wall Street’s expectations, but the company lowered its full-year profit forecast for a second time as farmers buy fewer tractors.

Deere & Co. lifted its financial outlook for the year as machinery demand from farmers remained robust despite slumping crop prices.