Morgan Stanley: Another Bay Year For Deere in 2015

A recent report by Morgan Stanley includes a dreary forecast for farming equipment manufacturers. Analyst Nicole DeBlase predicts below-consensus earnings for industry leaders in 2015 and further declines in 2016.
The report identifies five factors putting pressure on agriculture equipment manufacturing in the next two years.
1. The USDA estimates that farmer cash receipts will continue to decline through 2016. Analysts point out the strong past correlation between cash receipts and equipment demand.