According to a March 24 Bloomberg report, Deere said it will stop production at its six plants in Brazil in an attempt to contain the spread of the coronavirus.

Operations at two facilities were scheduled for shutdown March 25 for an undetermined period. Four other plants will cease production on Monday, March 30. Deere's distribution center for Latin America will continue to provide support to farmers during the soybean harvest.

In Brazil, a key market for global machinery makers, the coronavirus is leading to suspensions of agricultural fairs where many farm equipment sales are transacted, worsening the outlook for sales, according to Bloomberg.