Deere & Co.'s cut its full-year profit forecast as sales slow in Asia and Latin America, undermining the growth strategy at the world's largest manufacturer of agricultural equipment, Bloomberg reported. Net income for the full fiscal year ending Oct. 31 will be $3.1 billion, the Moline, Ill.-based equipment manufacturer said today in a release. That compares with its May forecast of $3.35 billion and the $3.33 billion average of 15 analysts' estimates compiled by Bloomberg. Deere on Wednesday reported quarterly net income of $788 million, an 11 percent increase from the quarter ended July 31, 2011. Those earnings fell short of analysts' estimates for the first time in 11 quarters. Deere's shares dropped 5.5 percent to $75.75 before the start of regular trading in New York.