Chairman and CEO,
Deere & Company
Agriculture is a good business right now. We spend approximately $3 million a day on R&D, working on making sure that we come up with more and more innovative solutions.
We’re simply not keeping up with the same kind of innovation that we see in Brazil right now. They’re doing no-till [farming that conserves water] much more aggressively. They’re going back and rehabilitating degraded land. They’re buying underperforming land and actually bringing it up to productivity level.
If we really put a focus on this — improvements in production and reducing waste — this is solvable. It is a tremendous challenge, but I don’t believe that we have a cliff coming.