Deere Shares Slide Despite Earnings Beat

Deer has raised its annual profit outlook due to strong demand, with the CEO highlighting solid fundamentals and a strong advance order position. Despite a stellar earnings report that beat estimates by 25%, analysts express concerns about a potentially muted fourth quarter, citing peak agriculture trends. Market trends show a decline in grain prices, with wheat experiencing its worst year since 2008. Deer's stock is underperforming the SP500, down 3% on the year.

How has the war in Russia and Ukraine affected US farmers according to the discussion?

What trend was observed in the grain market, particularly wheat, this year?