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: 22 February 1994
                    (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 information was included in Deere & Company's
press release
 reporting earnings for the quarter.
 
 The following information is disclosed on behalf of the
company's 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 $23.0 million
in the first quarter
 of 1994 compared with $27.4 million in the same period last year
excluding the
 cumulative effect of  accounting changes ($23.6 million after
the accounting
 changes).   Net income excluding the accounting changes was down
from last year,
 primarily reflecting lower revenues from a smaller receivable
and lease portfolio
 caused by the sales of retail notes in 1993, which was partially
offset by higher
 securitization and servicing fee income from retail notes
previously sold but still
 administered.  Revenues totaled $104.7 million in the first
quarter of 1994 compared
 with $115.1 million last year.  Interest expense for the quarter
was down from $43.6
 million last year to $35.9 million in 1994.  
 
 Total receivable and lease acquisitions by the  company
increased 11 percent for the
 quarter.  The higher acquisitions resulted mainly from an
increased volume of
 agricultural and industrial notes.  Acquisitions of revolving
charge receivables were
 also higher in the first quarter compared to last year,
reflecting continuing growth in
 this business.
 
 Net credit receivables and leases financed by John Deere Capital
Corporation were
 $3.477 billion at January 31, 1994 compared with $3.933 billion
one year ago.  The
 decrease in the portfolio was caused by note sales during 1993
as previously
 mentioned.  Net credit receivables and leases administered,
which include
 receivables previously securitized and sold but still
administered, amounted to $4.656
 billion at January 31, 1994 compared with $4.520 billion at
January 31, 1993.
 
 Item 7.    Financial Statements 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 22, 1994
  
                              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 22 February 1994 file no. 1-4121).