PROSPECTUS AND			PRICING SUPPLEMENT NO. 5
PROSPECTUS SUPPLEMENT,		Effective at 2:35 PM ET
each dated June 18, 1997	August 18, 1997
CUSIP: 24422EHY8			Commission File No.: 333-28145
					Filed pursuant to Rule 424(b)(3)


		U.S. $2,108,850,000

	JOHN DEERE CAPITAL CORPORATION

	 MEDIUM-TERM NOTES, SERIES C

Due from 9 Months to 30 Years from Date of Issue

	----------------------------------------------

The Medium-Term Notes offered hereby will be Senior Notes as
more fully described in the accompanying Prospectus and Prospectus
Supplement and will be denominated in U.S. Dollars.



INTEREST PAYMENT DATES:			Each September 15, March 15,
commencing on September 15, 1997, and at Maturity

PRINCIPAL AMOUNT:                   $25,000,000

DATE OF ISSUE:				August 21, 1997

MATURITY DATE:				August 15, 2002

INTEREST RATE:				6.30% PER ANNUM

REDEMPTION PROVISIONS:			NONE

PLAN OF DISTRIBUTION:			Merrill Lynch & Co.
                                    has purchased the Senior Notes as 
                                    principal at a price of 99.451% of 
                                    the aggregate principal amount of 
                                    the Senior Notes.




Merrill Lynch & Co.
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