﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xsi:schemaLocation="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2010v3.7">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2012-09-17T18:43:47-05:00</Timestamp>
    <TaxPeriodEndDate>2011-10-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>ERNST &amp; YOUNG US LLP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>2100 ONE PPG PLACE</AddressLine1>
        <City>PITTSBURGH</City>
        <State>PA</State>
        <ZIPCode>15222</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2010-11-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>306073592</EIN>
      <Name>
        <BusinessNameLine1>Deere &amp; Company Welfare Benefit Trust #1</BusinessNameLine1>
      </Name>
      <NameControl>DEER</NameControl>
      <Phone>4122367175</Phone>
      <USAddress>
        <AddressLine1>C/O THE BNYM PO BOX 535007</AddressLine1>
        <City>PITTSBURGH</City>
        <State>PA</State>
        <ZIPCode>152535007</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>BRENT HEINTZELMAN</Name>
      <Title>VP, THE BNYM, AS TRUSTEE</Title>
      <DateSigned>2012-09-17</DateSigned>
    </Officer>
    <Preparer>
      <Phone>4126447800</Phone>
    </Preparer>
    <TaxYear>2010</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="4">
    <IRS990 documentId="IRS990" referenceDocumentId="IRS990ScheduleO">
      <AddressChange>X</AddressChange>
      <NameOfPrincipalOfficerPerson>THE BANK OF NEW YORK MELLON</NameOfPrincipalOfficerPerson>
      <AddressPrincipalOfficerUS>
        <AddressLine1>PO BOX 535007</AddressLine1>
        <City>PITTSBURGH</City>
        <State>PA</State>
        <ZIPCode>152535007</ZIPCode>
      </AddressPrincipalOfficerUS>
      <GrossReceipts>889336324</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <Organization501c typeOf501cOrganization="9">X</Organization501c>
      <WebSite>N/A</WebSite>
      <TypeOfOrganizationTrust>X</TypeOfOrganizationTrust>
      <YearFormation>2004</YearFormation>
      <StateLegalDomicile>MA</StateLegalDomicile>
      <ActivityOrMissionDescription>TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS.</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>1</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>0</NbrIndependentVotingMembers>
      <TotalNbrEmployees>0</TotalNbrEmployees>
      <TotalNbrVolunteers>0</TotalNbrVolunteers>
      <TotalGrossUBI>0</TotalGrossUBI>
      <NetUnrelatedBusinessTxblIncome>0</NetUnrelatedBusinessTxblIncome>
      <ContributionsGrantsPriorYear>0</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>0</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>0</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>0</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>9802693</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>60771164</InvestmentIncomeCurrentYear>
      <OtherRevenuePriorYear>-3864359</OtherRevenuePriorYear>
      <OtherRevenueCurrentYear>14120298</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>5938334</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>74891462</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsPriorYear>0</GrantsAndSimilarAmntsPriorYear>
      <GrantsAndSimilarAmntsCY>0</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersPriorYear>193570215</BenefitsPaidToMembersPriorYear>
      <BenefitsPaidToMembersCY>207062628</BenefitsPaidToMembersCY>
      <SalariesEtcPriorYear>134520</SalariesEtcPriorYear>
      <SalariesEtcCurrentYear>174353</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpPriorYear>0</TotalProfFundrsngExpPriorYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>0</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>3804333</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>2208403</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>197509068</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>209445384</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>-191570734</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>-134553922</RevenuesLessExpensesCY>
      <TotalAssetsBOY>1042321465</TotalAssetsBOY>
      <TotalAssetsEOY>907858560</TotalAssetsEOY>
      <TotalLiabilitiesBOY>1571240</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>1662257</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>1040750225</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>906196303</NetAssetsOrFundBalancesEOY>
      <MissionDescription>TO PROVIDE BENEFITS TO ELIGIBLE MEMBERS.</MissionDescription>
      <SignificantNewProgramServices>false</SignificantNewProgramServices>
      <SignificantChange>false</SignificantChange>
      <ActivityCode>0</ActivityCode>
      <Expense>0</Expense>
      <Grants>0</Grants>
      <Revenue>0</Revenue>
      <Description>n/a</Description>
      <TotalOfOtherProgramServiceExp>0</TotalOfOtherProgramServiceExp>
      <TotalOfOtherProgramServiceGrnt>0</TotalOfOtherProgramServiceGrnt>
      <TotalOfOtherProgramServiceRev>0</TotalOfOtherProgramServiceRev>
      <TotalProgramServiceExpense>0</TotalProgramServiceExpense>
      <DescribedIn501C3>false</DescribedIn501C3>
      <ScheduleBRequired>false</ScheduleBRequired>
      <PoliticalActivities>false</PoliticalActivities>
      <SubjectToProxyTax>false</SubjectToProxyTax>
      <DonorAdvisedFunds referenceDocumentId="IRS990ScheduleD">false</DonorAdvisedFunds>
      <ConservationEasements referenceDocumentId="IRS990ScheduleD">false</ConservationEasements>
      <CollectionsOfArt referenceDocumentId="IRS990ScheduleD">false</CollectionsOfArt>
      <CreditCounseling referenceDocumentId="IRS990ScheduleD">false</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="IRS990ScheduleD">false</TermOrPermanentEndowments>
      <ReportLandBldgEquip referenceDocumentId="IRS990ScheduleD">false</ReportLandBldgEquip>
      <ReportInvestOthSecurities referenceDocumentId="IRS990ScheduleD">true</ReportInvestOthSecurities>
      <ReportProgRelInvest referenceDocumentId="IRS990ScheduleD">false</ReportProgRelInvest>
      <ReportOtherAssets referenceDocumentId="IRS990ScheduleD">false</ReportOtherAssets>
      <ReportOtherLiabilities referenceDocumentId="IRS990ScheduleD">false</ReportOtherLiabilities>
      <ReportFin48Footnote referenceDocumentId="IRS990ScheduleD">false</ReportFin48Footnote>
      <IndependentAuditFinancialStmt referenceDocumentId="IRS990ScheduleD">false</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="IRS990ScheduleD">false</ConsolidatedAuditFinancialStmt>
      <School>false</School>
      <ForeignOffice>false</ForeignOffice>
      <ForeignActivities>false</ForeignActivities>
      <MoreThan5000KToOrganizations>false</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>false</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>false</ProfessionalFundraising>
      <FundraisingActivities>false</FundraisingActivities>
      <Gaming>false</Gaming>
      <Hospital>false</Hospital>
      <GrantsToOrganizations>false</GrantsToOrganizations>
      <GrantsToIndividuals>false</GrantsToIndividuals>
      <ScheduleJRequired>false</ScheduleJRequired>
      <TaxExemptBonds>false</TaxExemptBonds>
      <LoanToOfficerOrDQP>false</LoanToOfficerOrDQP>
      <GrantToRelatedPerson>false</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization>false</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember>false</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp>false</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions>false</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt>false</DeductibleContributionsOfArt>
      <Terminated>false</Terminated>
      <PartialLiquidation>false</PartialLiquidation>
      <DisregardedEntity referenceDocumentId="IRS990ScheduleR">false</DisregardedEntity>
      <RelatedEntity referenceDocumentId="IRS990ScheduleR">true</RelatedEntity>
      <RelatedOrgControlledEntity>false</RelatedOrgControlledEntity>
      <TransactionRelatedEntity referenceDocumentId="IRS990ScheduleR">false</TransactionRelatedEntity>
      <ActivitiesConductedPartnership referenceDocumentId="IRS990ScheduleR">false</ActivitiesConductedPartnership>
      <ScheduleORequired>true</ScheduleORequired>
      <NumberFormsTransmittedWith1096>0</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <NumberOfEmployees>0</NumberOfEmployees>
      <UnrelatedBusinessIncome>false</UnrelatedBusinessIncome>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>false</TaxablePartyNotification>
      <NonDeductibleContributions>false</NonDeductibleContributions>
      <IndoorTanningServices>false</IndoorTanningServices>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>1</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>0</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>false</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>false</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>false</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>false</MaterialDiversionOrMisuse>
      <MembersOrStockholders>false</MembersOrStockholders>
      <ElectionOfBoardMembers>false</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>false</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>false</MinutesOfGoverningBody>
      <MinutesOfCommittees>false</MinutesOfCommittees>
      <OfficerMailingAddress>false</OfficerMailingAddress>
      <LocalChapters>false</LocalChapters>
      <Form990ProvidedToGoverningBody>false</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>false</ConflictOfInterestPolicy>
      <WhistleblowerPolicy>false</WhistleblowerPolicy>
      <DocumentRetentionPolicy>false</DocumentRetentionPolicy>
      <CompensationProcessCEO>false</CompensationProcessCEO>
      <CompensationProcessOther>false</CompensationProcessOther>
      <InvestmentInJointVenture>false</InvestmentInJointVenture>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>THE BANK OF NEW YORK MELLON</NamePerson>
        <TelephoneNumber>4122367175</TelephoneNumber>
        <AddressUS>
          <AddressLine1>PO BOX 535007</AddressLine1>
          <City>PITTSBURGH</City>
          <State>PA</State>
          <ZIPCode>152535007</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <InfoInScheduleOPartVII>X</InfoInScheduleOPartVII>
      <Form990PartVIISectionA>
        <NamePerson>THE BANK OF NEW YORK MELLON</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>0.0</AverageHoursPerWeek>
        <InstitutionalTrustee>X</InstitutionalTrustee>
        <ReportableCompFromOrganization>174353</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>174353</TotalReportableCompFromOrg>
      <TotalReportableCompFrmRltdOrgs>0</TotalReportableCompFrmRltdOrgs>
      <TotalOtherCompensation>0</TotalOtherCompensation>
      <NumberIndividualsGT100K>0</NumberIndividualsGT100K>
      <FormersListed>false</FormersListed>
      <TotalCompGT150K>false</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>Credit Suisse</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>Eleven Madison AV</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>100103629</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>INVESTMENT MGMT FEES</DescriptionOfServices>
        <Compensation>1145132</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>BlackRock Institutional Trust Compa</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>400 HOWARD ST</AddressLine1>
            <City>SAN FRANCISCO</City>
            <State>CA</State>
            <ZIPCode>94105</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>INVESTMENT MGMT FEES</DescriptionOfServices>
        <Compensation>635192</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>TCW Asset Management Company</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>865 South Figueroa Street</AddressLine1>
            <City>LOS ANGELES</City>
            <State>CA</State>
            <ZIPCode>90017</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>INVESTMENT MGMT FEES</DescriptionOfServices>
        <Compensation>341249</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>Jacobs Levy Equity Management Inc</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>100 Campus DR PO Box 650</AddressLine1>
            <City>FLORHAM PARK</City>
            <State>NJ</State>
            <ZIPCode>079320650</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>INVESTMENT MGMT FEES</DescriptionOfServices>
        <Compensation>306631</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>LSV Asset Management</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>155 N Wacker Drive Suite 4600</AddressLine1>
            <City>CHICAGO</City>
            <State>IL</State>
            <ZIPCode>60606</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>INVESTMENT MGMT FEES</DescriptionOfServices>
        <Compensation>178931</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>5</NumberOfContractorsGT100K>
      <TotalContributions>0</TotalContributions>
      <TotalProgramServiceRevenue>0</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>17201628</TotalRevenueColumn>
        <ExclusionAmount>17201628</ExclusionAmount>
      </InvestmentIncome>
      <IncomeFromInvestBondProceeds>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </IncomeFromInvestBondProceeds>
      <RoyaltiesRevenue>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </RoyaltiesRevenue>
      <GrossAmountSalesAssets>
        <Securities>858014398</Securities>
      </GrossAmountSalesAssets>
      <LessCostOthBasisSalesExpenses>
        <Securities>814444862</Securities>
      </LessCostOthBasisSalesExpenses>
      <GainOrLoss>
        <Securities>43569536</Securities>
      </GainOrLoss>
      <NetGainOrLossInvestments>
        <TotalRevenueColumn>43569536</TotalRevenueColumn>
        <ExclusionAmount>43569536</ExclusionAmount>
      </NetGainOrLossInvestments>
      <NetIncomeFromFundraisingEvents>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeFromFundraisingEvents>
      <NetIncomeFromGaming>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeFromGaming>
      <NetIncomeOrLoss>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeOrLoss>
      <OtherRevenueMisc>
        <Description>REINSURANCE INCOME</Description>
        <BusinessCode>525100</BusinessCode>
        <TotalRevenueColumn>13500351</TotalRevenueColumn>
        <ExclusionAmount>13500351</ExclusionAmount>
      </OtherRevenueMisc>
      <OtherRevenueMisc>
        <Description>STOCK LOAN INCOME</Description>
        <BusinessCode>525100</BusinessCode>
        <TotalRevenueColumn>622045</TotalRevenueColumn>
        <ExclusionAmount>622045</ExclusionAmount>
      </OtherRevenueMisc>
      <OtherRevenueMisc>
        <Description>FFX CONTRACTS</Description>
        <BusinessCode>525100</BusinessCode>
        <TotalRevenueColumn>4716</TotalRevenueColumn>
        <ExclusionAmount>4716</ExclusionAmount>
      </OtherRevenueMisc>
      <MiscellaneousRevenue>
        <TotalRevenueColumn>-6814</TotalRevenueColumn>
        <ExclusionAmount>-6814</ExclusionAmount>
      </MiscellaneousRevenue>
      <TotalOtherRevenue>14120298</TotalOtherRevenue>
      <TotalRevenue>
        <TotalRevenueColumn>74891462</TotalRevenueColumn>
        <ExclusionAmount>74891462</ExclusionAmount>
      </TotalRevenue>
      <GrantsToDomesticOrgs>
        <Total>0</Total>
      </GrantsToDomesticOrgs>
      <GrantsToDomesticIndividuals>
        <Total>0</Total>
      </GrantsToDomesticIndividuals>
      <ForeignGrants>
        <Total>0</Total>
      </ForeignGrants>
      <BenefitsToMembers>
        <Total>207062628</Total>
      </BenefitsToMembers>
      <CompCurrentOfficersDirectors>
        <Total>174353</Total>
      </CompCurrentOfficersDirectors>
      <CompDisqualPersons>
        <Total>0</Total>
      </CompDisqualPersons>
      <OtherSalariesAndWages>
        <Total>0</Total>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>0</Total>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>0</Total>
      </OtherEmployeeBenefits>
      <PayrollTaxes>
        <Total>0</Total>
      </PayrollTaxes>
      <FeesForServicesManagement>
        <Total>0</Total>
      </FeesForServicesManagement>
      <FeesForServicesLegal>
        <Total>0</Total>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>0</Total>
      </FeesForServicesAccounting>
      <FeesForServicesLobbying>
        <Total>0</Total>
      </FeesForServicesLobbying>
      <FeesForServicesProfFundraising>
        <Total>0</Total>
      </FeesForServicesProfFundraising>
      <FeesForServicesInvstMgmntFees>
        <Total>1305013</Total>
      </FeesForServicesInvstMgmntFees>
      <FeesForServicesOther>
        <Total>0</Total>
      </FeesForServicesOther>
      <Advertising>
        <Total>0</Total>
      </Advertising>
      <OfficeExpenses>
        <Total>0</Total>
      </OfficeExpenses>
      <InformationTechnology>
        <Total>0</Total>
      </InformationTechnology>
      <Royalties>
        <Total>0</Total>
      </Royalties>
      <Occupancy>
        <Total>0</Total>
      </Occupancy>
      <Travel>
        <Total>0</Total>
      </Travel>
      <TravelEntrtnmntPublicOfficials>
        <Total>0</Total>
      </TravelEntrtnmntPublicOfficials>
      <ConferencesMeetings>
        <Total>0</Total>
      </ConferencesMeetings>
      <Interest>
        <Total>0</Total>
      </Interest>
      <PaymentsToAffiliates>
        <Total>0</Total>
      </PaymentsToAffiliates>
      <DepreciationDepletion>
        <Total>0</Total>
      </DepreciationDepletion>
      <Insurance>
        <Total>0</Total>
      </Insurance>
      <OtherExpenses>
        <Description>COMMISSIONS/FEES ON FUTURES</Description>
        <Total>46720</Total>
      </OtherExpenses>
      <OtherExpenses>
        <Description>ADMINISTRATION FEES</Description>
        <Total>152500</Total>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INVESTMENT PERFORMANCE FEES</Description>
        <Total>697824</Total>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISCELLANEOUS</Description>
        <Total>6346</Total>
      </OtherExpenses>
      <TotalFunctionalExpenses>
        <Total>209445384</Total>
        <ProgramServices>0</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>5495455</BOY>
        <EOY>17</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <BOY>0</BOY>
        <EOY>6035112</EOY>
      </SavingsAndTempCashInvestments>
      <PledgesAndGrantsReceivable>
        <BOY>2708982</BOY>
        <EOY>2541367</EOY>
      </PledgesAndGrantsReceivable>
      <AccountsReceivable>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </AccountsReceivable>
      <OtherNotesLoansReceivableNet>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </OtherNotesLoansReceivableNet>
      <InventoriesForSaleOrUse>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasisNet>
        <BOY>0</BOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </InvestmentsPubTradedSecurities>
      <InvestmentsOtherSecurities>
        <BOY>1034117028</BOY>
        <EOY>899282064</EOY>
      </InvestmentsOtherSecurities>
      <InvestmentsProgramRelated>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </InvestmentsProgramRelated>
      <IntangibleAssets>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </IntangibleAssets>
      <OtherAssetsTotal>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </OtherAssetsTotal>
      <TotalAssets>
        <BOY>1042321465</BOY>
        <EOY>907858560</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>1571240</BOY>
        <EOY>1662257</EOY>
      </AccountsPayableAccruedExpenses>
      <TotalLiabilities>
        <BOY>1571240</BOY>
        <EOY>1662257</EOY>
      </TotalLiabilities>
      <DoNotFollowSFAS117>X</DoNotFollowSFAS117>
      <CapStckTrstPrinCurrentFunds>
        <BOY>1040750225</BOY>
        <EOY>906196303</EOY>
      </CapStckTrstPrinCurrentFunds>
      <TotalNetAssetsFundBalances>
        <BOY>1040750225</BOY>
        <EOY>906196303</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>1042321465</BOY>
        <EOY>907858560</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>-134553922</ReconcilationRevenueExpenses>
      <InfoInScheduleOPartXII>X</InfoInScheduleOPartXII>
      <MethodOfAccountingOther note="MODIFIED CASH">X</MethodOfAccountingOther>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>false</FSAudited>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleD documentId="IRS990ScheduleD">
      <ArtPublicExhibitionAmts />
      <HeldWorksOfArtAmts />
      <Land />
      <Buildings />
      <LeaseholdImprovements />
      <Equipment />
      <OtherLandBuildings />
      <FinancialDerivatives />
      <CloselyHeldEquityInterests />
      <OtherSecurities>
        <Description>FIXED INCOME SECURITIES</Description>
        <BookValue>299055238</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>EQUITY</Description>
        <BookValue>532807622</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>REAL ESTATE</Description>
        <BookValue>21538524</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>ALTERNATIVE INVESTMENTS</Description>
        <BookValue>20880680</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>OTHER</Description>
        <BookValue>25000000</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
      </OtherSecurities>
      <TotalOfBookValueSecurities>899282064</TotalOfBookValueSecurities>
    </IRS990ScheduleD>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <GeneralExplanation>
        <Identifier>FORM 990 PART VI, SECTION A LINE 1A &amp; 1B</Identifier>
        <Explanation>THE BANK OF NEW YORK MELLON, N.A. SERVES AS DIRECTED TRUSTEE OF THIS TRUST. THE PLAN SPONSOR IS DEERE AND COMPANY. THE TRUST IS ADMINISTERED BY THE PLAN SPONSOR IN ACCORDANCE WITH THE TERMS OF THE TRUST AGREEMENT. AS SUCH THE VEBA DOES NOT HAVE A GOVERNING BODY THAT EXERCISES DISCRETION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990 PART VI, SECTION A, LINE 11a</Identifier>
        <Explanation>NO REVIEW WAS OR WILL BE CONDUCTED.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990 PART VI, SECTION A, LINE 8 &amp; B, LINE 12-15</Identifier>
        <Explanation>DO NOT APPLY AS THIS ORGANIZATION IS A VOLUNTARY EMPLOYEE BENEFITS ASSOCIATION (501(C)(9) TRUST). ADDITIONALLY, THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES THEREFORE NO PROCESSES RELATED TO EMPLOYEE COMPENSATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990 PART VI, SECTION C, LINE 19</Identifier>
        <Explanation>AS A 501(C)(9) ORGANIZATION THE TRUST IS NOT REQUIRED TO MAKE THE DOCUMENTS REFERENCED IN QUESTION 19 AVAILABLE TO THE GENERAL PUBLIC.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990, PART VII SECTION A, LINE 1A COLUMN (B)</Identifier>
        <Explanation>AVERAGE HOURS PER WEEK DEVOTED TO POSITION: AS TRUSTEE, THE BANK OF NEW YORK MELLON PROVIDES ADMINISTRATIVE SERVICES SUCH AS ACTING AS INVESTMENT MANAGER FOR THE DEERE &amp; COMPANY WELFARE BENEFIT TRUST #1. THESE SERVICES REQUIRE NUMEROUS INDIVIDUAL BANK EMPLOYEES' INVOLVEMENT IN THE ACTIVITIES OF THE ORGANIZATION AND THUS CAN NOT BE QUANTIFIED ON AN HOURLY BASIS. THEREFORE, THE TRUSTEES FEES ARE NOT BASED UPON AN HOURLY BASIS BUT ARE CALCULATED BASED UPON FACTORS SUCH AS THE MARKET VALUE OF THE ACCOUNT AND IN ACCORDANCE WITH THEIR AGREEMENT WITH DEERE &amp; COMPANY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990, PART XII, LINE 1</Identifier>
        <Explanation>Deere &amp; Company Welfare Benefit Trust #1 has noted that its books and records are reported on the "Modified Cash" basis which is a more accurate description of the accounting method used by the Deere &amp; Company Welfare Benefit Trust #1 and is in compliance with Reg. 1.446-1(c)(iv). Though this description is different from the prior year, there has been no change in the accounting method and it is in conformity with the method used for its books. Deere &amp; Company Welfare Benefit Trust #1 believes that the method clearly reflects income and is consistently used.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR">
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>DEERE &amp; COMPANY</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>ONE JOHN DEERE PLACE</AddressLine1>
          <City>MOLINE</City>
          <State>IL</State>
          <ZIPCode>61265</ZIPCode>
        </AddressUS>
        <EIN>362382580</EIN>
        <PrimaryActivity>EQUIPMENT MANUF.</PrimaryActivity>
        <LegalDomicileState>DE</LegalDomicileState>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <TypeOfEntity>C CORP</TypeOfEntity>
        <ShareOfTotalIncome>0</ShareOfTotalIncome>
        <ShareOfEOYAssets>0</ShareOfEOYAssets>
        <PercentageOwnership>0.00000</PercentageOwnership>
      </Form990ScheduleRPartIV>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>false</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>false</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>false</SharingOfFacilities>
      <SharingOfPaidEmployees>false</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
    </IRS990ScheduleR>
  </ReturnData>
</Return>