According to a March 22 report from Bloomberg, Deere's stock hit a record high on March 22 of $436.28, "as investors bet on a surge in demand with the war in Ukraine creating a need for more agricultural production." Deere's stock has reportedly seen a 25% gain in 2022 and, as of the report, was the top gainer in the S&P 500 Industrials Index. Deere's stock closed at $432.61 on March 28.

“The read from investors is that higher global crop prices will spur more machinery demand in future years,” Barclays analyst Adam Seiden said in the Bloomberg report.

The report stated that some estimates forecast Ukraine planting half its normal sunflower crop and two-thirds its corn crop, further impacting rising commodity prices. The report quoted William Blair analyst Lawrence DeMaria as saying, “Demand was strong already for equipment. But higher prices and the need for more agricultural production suggest a longer cycle ahead.”