Deere will lay off 238 employees across factories in Waterloo, Iowa, and Moline and East Moline, Illinois. The move follows weaker financial results and higher costs that have reshaped the company’s 2025 outlook.

Deere reported a 26% drop in net income alongside a 9% decline in sales so far this year. Management linked the downturn to softer commodity prices that have tempered producer purchases and to a sharp rise in tariff expenses.

“Tariff costs in the quarter were approximately $200 million, which brings us to roughly $300 million in tariff expense year to date,” said Josh Beal, Director of Investor Relations at Deere.

The company now expects tariff costs to reach $600 million in 2025, up from a prior forecast of $500 million. Those costs are part of a broader trade backdrop. Since April, the U.S. has imposed wide-ranging tariffs of 10%–50% on most imports, with higher rates for dozens of countries and industries. The average tariff rate is now estimated at 18.6%, the highest since 1933.

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Compared to 2023, corn production costs per bushel decreased across all regions, with lower fertility, power, and land costs driving reductions of up to 66 cents. Corn yields increased statewide, averaging 235 bushels per acre—seven bushels higher than the previous record. Soybean costs per bushel fell in most regions, except southern Illinois, where lower yields led to increased costs. Soybean production costs per acre declined across the state.

For 2025, projected corn and soybean costs are expected to decrease by 4% due to lower soil fertility expenses, though lower grain prices may offset savings. This data, provided by the Illinois Farm Business Farm Management Association, highlights key agricultural cost trends shaping Illinois crop production.

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Overstreet succeeds retiring Republican Justice Lloyd Karmeier.

For the first time in Illinois history, a sitting Supreme Court justice lost a retention election when Democratic Justice Thomas Kilbride failed to get the 60 percent retention requirement.

Kilbride was funded with millions of dollars from trial lawyers and labor unions.

The state Supreme Court will appoint an interim justice to fill the vacant seat until the 2022 next election.