Deere & Co
The company's results also suffered from the performance of its construction and forestry equipment division, where the continued woes of the housing market dragged sales down 55 percent.
Deere reported a net profit of $472.3 million, or $1.11 a share, for the second quarter ended on April 30, down from $763.5 million, or $1.74 a share, a year earlier.
Sales fell 17 percent to $6.75 billion.
The outlook for market conditions over the remainder of the year remains highly uncertain and the impact on the company's sales and earnings is difficult to assess, Deere said in a statement.
(Reporting by James Kelleher; Editing by Lisa Von Ahn)