Deere and Co. is regarded as a bellwether of the agricultural sector.  In their report for the first quarter of Fiscal 2024 released on February 15^th, the company reported sales of $12,185 million, down 4 percent from the corresponding first quarter of Fiscal 2023.  Net earnings were 11 percent lower at $1,750 million and the company posted a diluted EPS of $6.23 compared to $6.55 for Q1 FY 2023.  The company projects lower revenue for FY 2024 in the range of $7,500 to $7,750 million.  Sales in USA and Canada will decline by between 10 and 15 percent with sales to large agricultural operations down 5 percent and corresponding reductions in the forestry and construction markets.  Demand in Eastern Europe will be affected by ongoing hostilities in Ukraine and economic conditions in other markets.  Reduced sales to small agricultural operations is evidence that many farmers are reluctant to assume additional debt at prevailing high interest rates and are delaying replacement of high-priced equipment.