November 22, 2017 / 4:10 PM / a year ago

BRIEF-Deere plans to further drive cost reduction effort in 2018 and beyond

Nov 22 (Reuters) - Deere & Co:

* Deere & co says global grain and oil seed stock to use ratios are forecast to remain at elevated but generally unchanged levels in 2017 - conf call‍​

* Deere & co says in u.s., canada despite current commodity prices, industry experiencing stronger replacement demand for large equipment - conf call‍​

* Deere says in brazil, agriculture production expected to decrease about 4 percent in 2018 in u.s. Dollar terms due mainly to record production in 2017

* Deere says fiscal year sales increase forecast is led by the u.s. Market and, to a lesser extent, by the eu 28 - conf call

* Deere says fy 2018 forecast sales increase in the u.s. Is due in part to significant growth in sale of small agriculture and turf products

* Deere says not anticipating at this point of the year increasing any receivables and or field inventory on large agriculture equipment in u.s.,canada

* Deere says seeing some strength in new sales due to fact that dealers have been very successful in getting used inventories more rightsized. - conf call

* Deere says do plan to further drive cost reduction effort in 2018 and beyond - conf call

* Deere says strength in large agriculture equipment market not coming from improved fundamentals, seeing similar type of receipts,income level y-o-y

* Deere says mainly seeing underlying replacement demand in large agriculture equipment market, and we believe that it's very sustainable - conf call Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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