DEERE HIT BY HIGHER COSTS:

Deere & Co. stock plunged 14 percent after the world’s largest manufacturer of agricultural equipment posted disappointing quarterly sales and said higher farming costs are denting demand. Despite record crop prices, disruption caused by Russia’s invasion of Ukraine has elevated the cost of fuel and fertilizer, limiting farmers’ spending power. Surging diesel prices mean some farmers are paying twice as much as they did a year ago to fill up their tractor. The costs of weedkillers, insecticides and nitrogen fertilizer are also up.