PROSPECTUS and				PRICING SUPPLEMENT NO. 31
PROSPECTUS SUPPLEMENT,        	effective at 3:10 PM ET
each Dated July 13, 1995		Dated August 21, 1996
CUSIP: 24422EGV5				Commission File No.: 33-60383
						Filed pursuant to Rule 424(b)(3)


                       U.S. $208,850,000
                JOHN DEERE CAPITAL CORPORATION

                       MEDIUM-TERM NOTES, SERIES C
            due from 9 Months to 30 Years from Date of Issue
                      (Senior Floating Rate Notes)

Original Issue Date:			26 August 1996

Maturity Date:				26 August 1998

Issue Price:				100%

Issue Size:					$100,000,000

Interest Rate Basis:			Federal Funds Rate 					
Spread:					Plus 15 basis points (0.15%)

Interest Determination Date:		The Business Day preceding each
                                    Interest Reset Date

Initial Interest Determination Date: 23 August 1996												
Day Count Convention:			Actual/360

Interest Reset Dates:			Each Business Day to, but
                                    excluding the Maturity Date,
                                    commencing 26 August 1996

Interest Payment Dates:			26th of February, May, August and
                                    November of each year 

Plan of Distribution:			Merrill Lynch & Co. has purchased
                                    the Senior Floating Rate Notes as 
                                    principal at a price of 99.90586% 
                                    of the aggregate principal amount 
                                    of the such Notes.



Merrill Lynch & Co.
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