Not everyone in the farm equipment community would say they follow the leader when it comes to John Deere. But few will deny that it’s part of their strategy to watch the leader. Shortly after Deere releases its quarterly earnings recently, dozens of “breaking news” reports immediately flood the Internet news sites and wire services.

On its website, AGCO Corp., sometimes called the “teenager” of the big four ag equipment makers, boasts “approximately 3,900 independent dealers and distributors around the world.” What it doesn’t say is that about half or more of its dealers are located in the U.S. and Canada alone.