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There hasn't been an "official" story given to this, but I did find an old JOHN DEERe ad mentioning the green and gold livery as being "as familiar as the green of cornstalks and the gold of ripened grain". Another possibility is that, in 1918, they bought out a rather popular manufacturer of tractors called Waterloo Boy, which used green and yellow, and that became their livery.

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Q: Why are John Deere tractors Green?
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Why are tractors green?

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