SECURITIES AND EXCHANGE COMMISSION
 
                         Washington, D.C.  20549
 
 
                                _________
 
                                FORM 8-K
 
                             CURRENT REPORT
 
 
                 Pursuant to Section 13 or 15(d) of the
 
                     Securities Exchange Act of 1934
 
                   Date of Report:  February 15, 1996
                    (Date of earliest event reported)
 
                     JOHN DEERE CAPITAL CORPORATION
           (Exact name of registrant as specified in charter)
 
                                DELAWARE
             (State or other jurisdiction of incorporation)
 
                                 1-6458
                        (Commission File Number)
 
                               36-2386361
                    (IRS Employer Identification No.)
 
                                Suite 600
                     First Interstate Bank Building
                           1 East First Street
                           Reno, Nevada 89501
          (Address of principal executive offices and zip code)
 
                              (702)786-5527
          (Registrant`s telephone number, including area code)
                 _______________________________________
 
                           Page 1 of 4 pages.
                     The Exhibit Index appears at Page 4

Item 5. Other Information Events. 
 
 The following is disclosed on behalf of the Company's United
States credit
 subsidiary, John Deere Capital Corporation, in connection with
the disclosure
 requirements of programs providing for the issuance of debt
securities:
    
 "John Deere Capital Corporation's net income was $32.3 million
in the first quarter
 of 1996 compared with $27.4 million in the same period last
year.  Net income for
 the quarter was favorably affected by a larger average portfolio
financed, slightly
 offset by lower financing spreads compared with a year ago.  The
average balance
 of credit receivables and leases financed was 19 percent higher
in the first quarter
 of 1996 compared with the same period last year.
    
 Credit receivable and lease acquisitions increased 25 percent
during the first
 quarter.  Acquisitions of John Deere equipment notes were 15
percent higher in the
 current quarter, primarily due to increased retail sales of John
Deere equipment. 
 Acquisitions of retail notes, revolving charge accounts, leases
and wholesale
 receivables all increased during the quarter compared with last
year.  Retail notes
 acquired during the quarter totaled $834 million, a 19 percent
increase over first
 quarter 1995 acquisitions.
 
 Net receivables and leases financed by John Deere Capital
Corporation were
 $5.005 billion at January 31, 1996 compared with $4.208 billion
one year ago.  The
 increase resulted from credit acquisitions exceeding collections
during the last 12
 months, partially offset by retail note sales during the same
period. Net credit
 receivables and leases administered, which include receivables
previously
 securitized and sold, totaled $5.969 billion at January 31, 1996
compared with
 $5.195 billion at January 31, 1995."
 
 
 Item 7.    Financial Statements, Pro Forma Financial Information
and Exhibits.
 
 
 (c)    Exhibits
 
 
    (99)    Press release and additional information of Deere &
Company 
 


Signature
 
 Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant
 has duly caused this report to be signed on its behalf by the
undersigned hereto
 duly authorized.
 
                             JOHN DEERE CAPITAL CORPORATION
 
 
 
                              By  /s/ Frank S. Cottrell       
                                 Frank S. Cottrell, Secretary
 
 Dated:  February 15, 1996
 
  
                              EXHIBIT INDEX 
 
 
                                                  Sequential
 Number and Description of Exhibit                         Page
Number
 
 
 99.    Press release and additional information of               
  
    Deere & Company (Incorporated by reference
    to Deere & Company Current Report on Form 8-K
    dated February 15, 1996, file number 1-4121).