11 Best Farmland and Agriculture Stocks To Buy Heading Into 2023

In this article, we discuss 11 best farmland and agriculture stocks to buy heading into 2023.

Kenneth Scott Zuckerberg, lead analyst and senior economist with CoBank’s Knowledge Exchange division, told S&P Global Commodities Insights in an interview in August 2022 that farmers and customers around the world may have to face a turbulent market well into 2023 given the upside risks to the prices of agricultural commodities and inputs. Prices of primary crops like corn, soybean, and wheat have been accelerating due to the Russia-Ukraine war, weather constraints, and supply chain bottlenecks. According to Zuckerberg, the Russia-Ukraine war will impact the supply of grain and oilseeds for three or more years as Ukraine is one of the world’s largest producers of corn, wheat, and sunflower oil, and the war has tightened the supply of these commodities meaningfully.

High energy costs have also made the production of fertilizers costly. Lately, fertilizer prices have normalized relatively. Yet, the likelihood of natural gas supply challenges in the European Union from Russia can result in a steep increase in gas prices and costs of fertilizers. Zuckerberg further noted: 

“If they [Russia] pull supply, natural gas prices go up … it means fertilizer prices go up, and we have a restart to the inflation regardless of what the central banks are doing on interest rates.” 

Given that China is one of the biggest producers, consumers, and importers of food and grains in the world, Zuckerberg explained that:

“I think we can’t ignore the China-Taiwan situation because once somebody tells you their intention, it is really important to remember that.”

Farmland and agriculture stocks are likely to continue to boom given the uncertainties in the sector will not tamper with the global demand for agricultural inputs and commodities. Investors usually prefer to invest in farmland and agriculture stocks because of their diversification and inflation hedge characteristics. Billionaire Bill Gates is the #1 private farmland owner in the United States. Some of the best agriculture stocks to invest in include The Mosaic Company (NYSE:MOS), Bunge Limited (NYSE:BG), and Deere & Company (NYSE:DE) according to hedge funds. Gladstone Land Corporation (LAND) is a pure play farmland stock that owns and acquires farm-related properties in the US, however, it failed to make our list because there were only 8 hedge funds with bullish positions in the stock. Farmland Partners Inc (FPI) is also a pure play farmland stock that follows a similar business model, however, Farmland Partners Inc also failed to make our list for the same reason. 

Our Methodology 

We selected the following agriculture stocks based on positive analyst coverage, strong business fundamentals, and market visibility. We have assessed the hedge fund sentiment from Insider Monkey’s database of 920 elite hedge funds tracked as of the end of the third quarter of 2022. The list is arranged according to the number of hedge fund holders in each firm. 

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Best Farmland and Agriculture Stocks To Buy Heading Into 2023

11. Benson Hill, Inc. (NYSE:BHIL)

Number of Hedge Fund Holders: 16

Benson Hill, Inc. (NYSE:BHIL) was incorporated in 2012 and is headquartered in Saint Louis, Missouri. It operates as a food technology company that unlocks natural genetic diversity of plants. The company has two segments, Ingredients and Fresh. On November 10, Benson Hill, Inc. (NYSE:BHIL) reported a Q3 GAAP loss per share of $0.16 and a revenue of $130.18 million, outperforming Wall Street estimates by $0.05 and $45.33 million, respectively. Revenue over the period climbed nearly 307% from the prior-year quarter. 

On September 30, UBS analyst Cody Ross initiated coverage of Benson Hill, Inc. (NYSE:BHIL) with a Buy rating and a $5.00 price target. The company is on the brink of transforming its business model into a “proprietary/partnership, high margin, asset-light model”, which should contribute 69% of the sales mix by 2025, the analyst told investors in a research note. 

According to Insider Monkey’s data, Benson Hill, Inc. (NYSE:BHIL) was part of 16 hedge fund portfolios at the end of Q3 2022, compared to 17 funds in the last quarter. 

Like The Mosaic Company (NYSE:MOS), Bunge Limited (NYSE:BG), and Deere & Company (NYSE:DE), Benson Hill, Inc. (NYSE:BHIL) is one of the best agriculture stocks to monitor. 

10. ICL Group Ltd (NYSE:ICL)

Number of Hedge Fund Holders: 17

ICL Group Ltd (NYSE:ICL) is headquartered in Tel Aviv, Israel, and it operates as a specialty minerals and chemicals company worldwide. The company has four segments – Industrial Products, Potash, Phosphate Solutions, and Innovative Ag Solutions. It is one of the best agriculture stocks to invest in. In Q3 2022, ICL Group Ltd (NYSE:ICL) reported adjusted EBITDA of $1,049 million, up 139% versus $438 million in the last quarter. Adjusted EBITDA margin came in at 41.6%, up from 24.5% in the prior quarter. 

On November 17, Barclays analyst Benjamin Theurer maintained an Equal Weight rating on ICL Group Ltd (NYSE:ICL) and lowered the price target on the shares to $11 from $12 after the earnings season. While the analyst remains positive about the broader agriculture space, he believes fiscal 2023 will in part be a year of relatively more normal earnings levels, with results beating performance prior to sanctions against Belarus being introduced and Russia’s invasion of Ukraine.

According to Insider Monkey’s Q3 data, 17 hedge funds were bullish on ICL Group Ltd (NYSE:ICL), compared to 13 funds in the prior quarter. 

9. FMC Corporation (NYSE:FMC)

Number of Hedge Fund Holders: 28

Next on our list of the best agriculture stocks is FMC Corporation (NYSE:FMC), a Pennsylvania-based agricultural sciences company that provides crop protection, plant health, and professional pest and turf management products. On December 14, FMC Corporation (NYSE:FMC) declared a $0.58 per share quarterly dividend, a 9.4% increase from its prior dividend of $0.53. The dividend is payable on January 19, 2023 to shareholders of record on December 30. 

On November 15, Loop Capital analyst Christopher Kapsch upgraded FMC Corporation (NYSE:FMC) to Buy from Hold with a price target of $149, up from $132. The earlier downgrade was due to his belief that the stock’s valuation had gotten ahead of the story, but FMC Corporation (NYSE:FMC) has executed well, which helped derisk its earnings progression, the analyst told investors in a research note.

According to Insider Monkey’s third quarter database, 28 hedge funds were long FMC Corporation (NYSE:FMC) with collective stakes worth $496.5 million, compared to 29 funds in the last quarter worth $361.2 million. Ken Griffin’s Citadel Investment Group held the biggest stake in the company, consisting of 1.2 million shares worth $130 million. 

Here is what Aristotle Capital Management Global Equity has to say about FMC Corporation (NYSE:FMC) in its Q1 2022 investor letter:

“FMC is an agricultural sciences company providing solutions for the protection of crops from different pests. Its products are used by farmers to ensure bugs, weeds and fungi do not negatively impact their harvest. Headquartered in Philadelphia, Pennsylvania, the company has a rich history dating back to 1883 when inventor John Bean set out to build a better insecticide spray pump. Over the decades, through acquisitions, FMC became a disparate collection of chemical companies. FMC has transformed itself to solely focus on crop chemicals, having acquired DuPont’s crop chemicals portfolio in 2017, and completed the separation of its lithium business in 2019. FMC is now one of the largest patented crop protection companies globally.

Its presence is balanced both geographically around the world, as well as from a crop exposure standpoint, with soybeans being the largest at roughly 20% of total revenue. In terms of products, FMC’s portfolio skews toward insecticides, which account for over 60% of its revenue. The remainder are herbicides (~25%), as well as fungicides and other crop chemicals (~15%).

High-Quality Business

Some of the quality characteristics we have identified for FMC include:

• Strong portfolio of brands allowing for differentiation outside of price, as many customers refer to the brand name, not the active ingredient;
• Strong competitive position with many products being either protected by patents or niche products, perhaps unlikely to be targeted by generics;
• Oligopolistic industry, as FMC is one of just five companies that collectively contribute the majority of research and development performed on crop protection chemicals; and
• Capable management team with operational experience and ability to commercialize new products.

Attractive Valuation

We believe FMC’s current stock price is offered at a discount to our determination of the company’s intrinsic value given our estimates of both enhanced margins and higher earnings on a normalized basis.

Compelling Catalysts

Catalysts we have identified for FMC, which we believe will cause its stock price to appreciate over our three- to five-year investment horizon, include:

• FMC is poised to benefit from its focus on crop chemicals, as yield gains are needed to support rising food consumption in emerging markets;
• Continued margin improvements from its product pipeline. These new products should be particularly effective against insects, weeds and fungi that have grown resistant to traditional crop chemicals; and
• Further cross-selling of FMC products to DuPont customers. For example, in Argentina, 78% of the customers it gained from the DuPont acquisition were unique to FMC, providing cross-selling opportunities.”

8. CNH Industrial N.V. (NYSE:CNHI)

Number of Hedge Fund Holders: 28

CNH Industrial N.V. (NYSE:CNHI) is one of the top agriculture stocks to monitor. The London-based company designs, manufactures, commercializes, and finances agricultural and construction equipment, trucks, commercial vehicles, buses, and specialty vehicles in North America, Europe, South America, and internationally. It operates through five segments – Agriculture, Construction, Commercial and Specialty Vehicles, Powertrain, and Financial. 

On November 8, CNH Industrial N.V. (NYSE:CNHI) reported a Q3 non-GAAP EPS of $0.41 and a revenue of $5.88 billion, outperforming Wall Street estimates by $0.08 and $580 million, respectively. For full-year 2022, the company expects net sales to increase between 16% and 18% year-on-year, including currency translation effects. 

Credit Suisse analyst Jamie Cook initiated coverage of CNH Industrial N.V. (NYSE:CNHI) on December 20 with an Outperform rating and a $21 price target. Under the leadership of Chief Executive Officer Scott Wine, CNH Industrial N.V. (NYSE:CNHI) has taken a number of solid actions to simplify its portfolio, the analyst told investors. He sees more transformative portfolio actions mostly complete, with the new CNH Industrial N.V. (NYSE:CNHI) simplified and refocused on the customer. 

According to Insider Monkey’s data, 28 hedge funds were long CNH Industrial N.V. (NYSE:CNHI) at the end of Q3 2022, compared to 25 funds in the last quarter. Harris Associates is the largest position holder in the company, with approximately 98 million shares worth $1.11 billion. 

Here is what Oakmark Fund specifically said about CNH Industrial N.V. (NYSE:CNHI) in its Q2 2022 investor letter:

“We sold our position in Iveco Group (Italy), in favor of names that, in our opinion, offer a more favorable risk/return profile. Iveco Group’s arrival in the Fund stemmed from CNH Industrial N.V. (NYSE:CNHI)’s demerger of its trucks and commercial vehicles business in early January. We continue to hold CNH Industrial as we believe it holds an attractive valuation at its current price.”

7. The Scotts Miracle-Gro Company (NYSE:SMG)

Number of Hedge Fund Holders: 29

The Scotts Miracle-Gro Company (NYSE:SMG) provides lawn fertilizers, grass seed products, spreaders, weed, pest, and disease control products, mulch, and water-soluble and continuous-release plant foods. It is one of the premier farmland and agriculture stocks to invest in. The Scotts Miracle-Gro Company (NYSE:SMG) distributed a $0.66 per share quarterly dividend to shareholders on December 9. The dividend yield on December 26 came in at 5.53%. 

On November 8, Barclays analyst Gaurav Jain upgraded The Scotts Miracle-Gro Company (NYSE:SMG) to Overweight from Equal Weight with an unchanged price target of $75. The analyst expects The Scotts Miracle-Gro Company (NYSE:SMG) to “delever rapidly from here,” despite a broad range of macro cases. Over the next three years, the company should deliver $6-$8 per share in free cash flow, the analyst told investors in a research note. He cited the stock’s 16% free cash flow yield for the upgrade.

According to Insider Monkey’s third quarter database, The Scotts Miracle-Gro Company (NYSE:SMG) was part of 29 hedge fund portfolios, up from 25 in the last quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the largest stakeholder of the company, with 1.5 million shares worth $67.3 million. 

6. Archer-Daniels-Midland Company (NYSE:ADM)

Number of Hedge Fund Holders: 37

Archer-Daniels-Midland Company (NYSE:ADM) was founded in 1902 and is headquartered in Chicago, Illinois. The company procures, transports, processes, and merchandises agricultural commodities in the United States, Switzerland, Cayman Islands, Brazil, Mexico, the United Kingdom, and internationally. Archer-Daniels-Midland Company (NYSE:ADM) operates through three segments – Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. 

On October 25, Archer-Daniels-Midland Company (NYSE:ADM) reported its Q3 results. The company posted non-GAAP earnings per share of $1.86, beating Wall Street estimates by $0.45. Revenue over the period came in at $24.68 billion, up 21.3% year-over-year, outperforming market consensus by $2.47 billion. Archer-Daniels-Midland Company (NYSE:ADM) also paid a $0.40 per share quarterly dividend to shareholders on December 7. 

UBS analyst Manav Gupta initiated coverage of Archer-Daniels-Midland Company (NYSE:ADM) on December 14 with a Buy rating and a $115 price target. The analyst sees Archer-Daniels-Midland Company (NYSE:ADM) reporting earnings of $7.75 per share by 2026 when considering its productivity and innovation efforts, even in a normalized margin environment, the analyst told investors. He estimates earnings bottoming at $6.07 per share, which the analyst said is “well above” present normalized earnings levels of $4.50 per share.

According to Insider Monkey’s data, Archer-Daniels-Midland Company (NYSE:ADM) was part of 37 hedge fund portfolios at the end of Q3 2022, compared to 42 in the last quarter. Tom Gayner’s Markel Gayner Asset Management held the biggest position in the company, comprising 1.46 million shares worth $117.7 million. 

In addition to The Mosaic Company (NYSE:MOS), Bunge Limited (NYSE:BG), and Deere & Company (NYSE:DE), Archer-Daniels-Midland Company (NYSE:ADM) is one of the premier agriculture stocks to invest in. 

Here is what Diamond Hill Long-Short Fund has to say about Archer-Daniels-Midland Company (NYSE:ADM) in its Q1 2022 investor letter:

“ADM is a leading agricultural processor that also operates a global nutrition business focused on the development of ingredients and flavors for food and beverages, supplements and more. The company’s recent operating results have benefited (unfortunately) from the war in Ukraine as grain prices and agricultural markets globally experienced strong price increases. ADM is positioned well to benefit from the volatility due to its stable North American agricultural base.”

5. Tractor Supply Company (NASDAQ:TSCO)

Number of Hedge Fund Holders: 37

Tractor Supply Company (NASDAQ:TSCO) is a Tennessee-based company that offers a selection of merchandise, including equine, livestock, and pet animal products, heating products, lawn and garden items, power equipment, and maintenance products for agricultural and rural use. It is one of the premier agriculture stocks to buy heading into 2023. Tractor Supply Company (NASDAQ:TSCO) paid a quarterly dividend per share of $0.92 to shareholders on December 6. 

On December 19, Credit Suisse analyst Karen Short initiated coverage of Tractor Supply Company (NASDAQ:TSCO) with an Outperform rating and a $260 price target. Tractor Supply Company (NASDAQ:TSCO) is a “best-in-class retailer gaining significant share in a needs-based, highly fragmented sector within retail,” the analyst told investors in a research note. Consumables, usables, and edibles are “arguably very defensive,” and these categories account for more than 50% of the company’s sales, noted the analyst.

According to Insider Monkey’s data, 37 hedge funds were bullish on Tractor Supply Company (NASDAQ:TSCO) at the end of September 2022, compared to 41 funds in the prior quarter. Select Equity Group held the largest stakeholder of the company, with 2.2 million shares worth $413 million.  

Here is what Wedgewood Partners has to say about Tractor Supply Company (NASDAQ:TSCO) in its Q4 2021 investor letter:

“Tractor Supply contributed favorably to performance during the quarter. Demand from the Company’s niche, affluent rural customer base continues to surge in a post-COVID world with comparable store sales running over +40% higher compared to pre-pandemic (2019) levels. Tractor Supply is seeing growth across all channels, from its website to e-commerce that is fulfilled by its 2000-store fleet to regular in-store traffic. The Company is also managing inflation and supply chain disruptions extremely well, passing through nearly +7% of inflation on consumable goods and managing a quarterly inventory in-stock rate that was actually higher than pre-pandemic. Tractor Supply is an exceptional retailer, and we continue to hold it as a top position.”

4. The Mosaic Company (NYSE:MOS)

Number of Hedge Fund Holders: 46

The Mosaic Company (NYSE:MOS) is a Florida-based company that produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. The company operates through three segments – Phosphates, Potash, and Mosaic Fertilizantes. It is one of the best agriculture stocks to monitor. On December 16, The Mosaic Company (NYSE:MOS) declared a $0.20 per share quarterly dividend, a 33.3% increase from its prior dividend of $0.15. The dividend is payable on March 16, 2023 to shareholders of record on March 2. 

On November 22, Piper Sandler analyst Charles Neivert maintained an Overweight rating on The Mosaic Company (NYSE:MOS) but lowered the price target on the shares to $65 from $75 following the Q3 results. 

According to Insider Monkey’s Q3 data, 46 hedge funds were bullish on The Mosaic Company (NYSE:MOS), compared to 50 funds in the prior quarter. Eric W. Mandelblatt’s Soroban Capital Partners is the biggest stakeholder of the company, with 6.8 million shares worth $332 million. 

Ariel Investment made the following comment about The Mosaic Company (NYSE:MOS) in its Q3 2022 investor letter:

“Producer and marketer of crop nutrients The Mosaic Company (NYSE:MOS) also traded up in the period on solid financial results. MOS continues to demonstrate its ability to raise prices and offset input cost inflation, as well as return significant capital to shareholders through buybacks. Meanwhile, trade flows have shifted with Russia and Belarus, the second and third largest fertilizer exporters globally, banning exports and facing sanctions imposed by the West. As a result, MOS is expanding production to help meet global demand. Given management’s optimistic outlook and disciplined approach towards capital allocation, we continue to believe the company is well positioned from a risk/reward standpoint.”

3. Bunge Limited (NYSE:BG)

Number of Hedge Fund Holders: 48

Bunge Limited (NYSE:BG) is one of the premier agriculture stocks to invest in. It is a Missouri-based agribusiness and food company that operates through four segments – Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. On November 15, Bunge Limited (NYSE:BG) declared a quarterly dividend of $0.625 per share, in line with previous. The dividend is payable on March 2, 2023 to shareholders of record on February 16. 

On November 22, Bunge Limited (NYSE:BG) announced that it has signed a strategic partnership with France’s BZ Group, and it has acquired 49% of the business. The BZ Group sources products from a huge network of independent farmers, including grains, oilseeds and pulses from suppliers in the northwest of France to export to its customers. This partnership will strengthen operational and commercial cooperation in a largely volatile and demanding market backdrop.

UBS analyst Manav Gupta on December 14 initiated coverage of Bunge Limited (NYSE:BG) with a Buy rating and a $133 price target. The market is primarily focused on shrinking margins in 2024 and 2025 while “ignoring” the $13.50-plus per share in earnings Bunge Limited (NYSE:BG) should report in 2022, the analyst told investors. In addition, Bunge Limited (NYSE:BG) is not getting credit for $3.3 billion in capital it plans to deploy in the next three years, according to the analyst, who estimates that this should add $2.50 per share to EPS.

According to Insider Monkey’s data, 48 hedge funds were long Bunge Limited (NYSE:BG) at the end of September 2022, and Jack Woodruff’s Candlestick Capital Management held the biggest position in the company, comprising 1.15 million shares worth $95 million. 

Here is what Old West Investment Management had to say about Bunge Limited (NYSE:BG) in its Q1 2022 investor letter:

“Bunge (pronounced BUN-GEE) Ltd (NYSE:BG) is one of the biggest agribusinesses and food companies in the world. There are four worldwide companies that dominate the sector, the others being Archer-Daniels-Midland Cargill, and Dreyfuss. One of our favorite ways to screen for new ideas is following insider buying. When I saw the Form 4 filed by new Bunge CEO Greg Heckman, his purchase of $9 million of BG stock intrigued me. My initial thought was the company gave him the stock as a signing bonus. I contacted BG Investor Relations and asked whether it was a signing bonus or did Heckman actually write a check for $9 million. IR assured me it was his own hard-earned money that he invested in the company he was about to run.

Heckman was a long time executive at Conagra Foods who obviously sensed opportunity at BG. One of his first moves as CEO was to move the company’s HQ from New York to St. Louis, right in the middle of America’s breadbasket. BG had been plagued for years with poor decisions by underperforming management. Heckman’s decision to move to St. Louis was indicative of a no-nonsense style and he would commence cutting expenses and selling non-core assets…” (Click here to see the full text)

2. Corteva, Inc. (NYSE:CTVA)

Number of Hedge Fund Holders: 50

Corteva, Inc. (NYSE:CTVA) is an Indiana-based agriculture company that develops technologies like advanced germplasm and related traits that deliver optimum yield for farms. The company also provides products that protect fields against weeds, insects, pests, and diseases. On November 30, Corteva, Inc. (NYSE:CTVA) announced the acquisition of the biologicals firm Stoller Group for $1.2 billion in cash. The deal will be completed in the first half of 2023 and Stoller’s results will be accretive to Corteva, Inc. (NYSE:CTVA)’s operating EBITDA and operating EPS next year.

On November 17, Barclays analyst Benjamin Theurer raised the price target on Corteva, Inc. (NYSE:CTVA) to $75 from $71 and kept an Overweight rating on the shares following the Q3 earnings season. 

According to Insider Monkey’s data, 50 hedge funds were long Corteva, Inc. (NYSE:CTVA) at the end of the third quarter of 2022, compared to 42 funds in the last quarter. Israel Englander’s Millennium Management is the largest stakeholder of the company, with 2.60 million shares worth $148.70 million. 

Here is what Aristotle Capital Management Value Equity has to say about Corteva, Inc. (NYSE:CTVA) in its Q1 2022 investor letter:

“Corteva Agriscience, one of the world’s largest seed and crop protection companies, was a primary contributor for the quarter. Due to its respected brand and the value-added benefits of its patented seeds and crop protection solutions for farmers, Corteva has been able to more than offset input cost inflation with sustainable price increases. In addition, the company’s ongoing mix shift to higher-margin, premium products, a catalyst we previously identified, is aiding both sales and profit growth. Shares were likely also buoyed by the rise in crop prices. Market participants, perhaps eager to chase short-term trends, poured into the sector. At Aristotle Capital, we look past such gyrations and, as long-term investors, do not attempt to predict short-term changes in commodity prices. We remain excited about what we view to be high-quality characteristics and fundamental improvements that permeate Corteva’s business, not the least of which include its pricing power.”

1. Deere & Company (NYSE:DE)

Number of Hedge Fund Holders: 57

Deere & Company (NYSE:DE) is an Illinois-based company that manufactures and distributes equipment worldwide. The company operates through four segments – Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. On November 23, Deere & Company (NYSE:DE) posted a FQ4 GAAP EPS of $7.44 and a revenue of $14.35 billion, outperforming Wall Street estimates by $0.34 and $890 million, respectively. The company expects net income for FY2023 to be in the range of $8 billion to $8.5 billion. It is one of the agriculture stocks to invest in. 

On December 19, Stifel analyst Stanley Elliott raised the price target on Deere & Company (NYSE:DE) to $477 from $475 and maintained a Buy rating on the shares. In his 2023 outlook note for his Machinery, Construction Materials, and Building Products coverage, the analyst stated that he expects “typical late-cycle trends” including weakness in housing but non-residential demand increasing. The analyst also forecasts the price/cost environment to improve.

According to Insider Monkey’s data, 57 hedge funds were long Deere & Company (NYSE:DE) at the end of the third quarter of 2022, compared to 54 funds in the last quarter. Bill & Melinda Gates Foundation Trust is the biggest stakeholder of the company, with approximately 4 million shares worth $1.30 billion. 

Harding Loevner made the following comment about Deere & Company (NYSE:DE) in its Q3 2022 investor letter:

“Deere & Company (NYSE:DE), the world’s largest manufacturer of agricultural equipment, reported fiscal third-quarter growth in revenues and earnings of 22% and 16%, respectively. These results reaffirmed Deere’s pricing power, which enabled the company to overcome rising raw material costs and a host of supply chain challenges.

John Deere also suffered supply chain challenges. It could not complete some machines as it waited for parts, and higher shipping costs cut into its margins. In the third quarter, production recovered. Revenue for its connected services Precision Ag unit increased 43% year over year, thanks to rising unit sales and a 15% price bump. Deere is the world’s largest agricultural machinery manufacturer, with the largest customer base, the largest dealer network, and arguably the industry’s most advanced technology stack. Deere has also amassed the industry’s biggest agricultural database. These powerful competitive advantages should help Deere to raise its margins as it targets a 40% share of revenues by the end of the decade from less cyclical, recurring sources such as software and maintenance services.”

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Disclosure: None. 11 Best Farmland and Agriculture Stocks To Buy Heading Into 2023 is originally published on Insider Monkey.