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:  November 26, 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.

John Deere Capital Corporation

     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  $31.6
million in the fourth quarter of 1996 and $134.1 million for  the
entire  year  compared  with $27.1 million  and  $114.1  million,
respectively,  last year.  Net income for the  quarter  and  year
were  favorably  affected  by  a larger  portfolio  financed  and
increased  income  from the securitization  and  sale  of  retail
notes.   The  average  balance of credit receivables  and  leases
financed  was  16  percent higher in the fourth  quarter  and  20
percent higher for the year compared with a year ago.
     Credit  receivable  and lease acquisition volumes  increased
nine  percent  during the fourth quarter and 18 percent  for  the
year  compared with last year.  Volumes of John Deere notes  were
six  percent  higher  in  the  current  year,  primarily  due  to
increased  retail  sales  of John Deere  equipment.   Volumes  of
retail  notes,  revolving charge accounts, leases  and  wholesale
receivables  all  increased  in 1996  compared  with  last  year.
Annual  1996 retail note volumes totaled $2.981 billion,  a  four
percent increase over 1995.
     Net  receivables and leases financed by John  Deere  Capital
Corporation were $5.536 billion at October 31, 1996 compared with
$4.838  billion one year ago.  The increase resulted from  credit
acquisitions exceeding collections during 1996, partially  offset
by  retail  note  sales  during  the  same  period.   Net  credit
receivables  and  leases administered, which include  receivables
previously  securitized  and  sold,  totaled  $6.724  billion  at
October  31,  1996 compared with $6.021 billion  at  October  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:  November 26, 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 November 26, 1996, file number 1-4121).