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

                      UNITED STATES
            SECURITIES AND EXCHANGE COMMISSION
                  WASHINGTON, D.C.  20549

                         ---------
                         FORM 10-Q
                         ---------

   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                SECURITIES EXCHANGE ACT OF 1934

       For the quarterly period ended January 31, 1998

                  Commission file no: 1-6458
                  __________________________

                JOHN DEERE CAPITAL CORPORATION

       Delaware                         36-2386361
(State of incorporation)     (IRS employer identification no.)


                1 East First Street, Suite 600
                    Reno, Nevada  89501
           (Address of principal executive offices)

               Telephone Number:  (702) 786-5527
               ________________________________


    Indicate by check mark whether the registrant (1) has filed 
all reports required to be filed by Section 13 or 15(d) of the 
Securities Exchange Act of 1934 during the preceding 12 months 
(or for such shorter period that the registrant was required to 
file such reports),  and (2) has been subject  to such filing 
requirements for the past 90 days.  Yes  X    No  

    At January 31, 1998, 2,500 shares of common stock, without 
par value, of the registrant were outstanding, all of which were 
owned by John Deere Credit Company, a wholly-owned subsidiary of 
Deere & Company.

    The registrant meets the conditions set forth in General 
Instruction H(1)(a) and (b) of Form 10-Q and is therefore filing 
this Form with certain reduced disclosures as permitted by those 
instructions.

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                    Page 1 of 14 Pages
               Index to Exhibits:  Page 12 

<PAGE>

               PART I.    FINANCIAL INFORMATION

Item 1.  Financial Statements

         John Deere Capital Corporation and Subsidiaries
     Statements of Consolidated Income and Retained Earnings
                           (Unaudited)
                          (in millions)

                                              Three Months Ended 
                                                  January 31

                                                  1998    1997
Revenues        
  Finance income earned on retail notes          $104.4  $ 92.2
  Lease revenues                                   39.7    22.7
  Revolving charge account income                  25.3    22.0
  Finance income earned on wholesale notes         13.9    11.8
  Securitization and servicing fee income           7.8    10.4
  Interest income from short-term investments       2.6     2.6
  Other income                                      4.5     1.8
    Total revenues                                198.2   163.5
Expenses      
  Interest expense                                 88.3    71.5
  Operating expenses:         
    Administrative and operating expenses          26.5    22.7
    Provision for credit losses                     9.3     6.5
    Fees paid to Deere & Company                    3.2     2.2
    Depreciation of equipment on operating leases  23.4    14.3
      Total operating expenses                     62.4    45.7
      Total expenses                              150.7   117.2
Income of consolidated group before income taxes   47.5    46.3
Provision for income taxes                         16.7    16.1
Income of consolidated group                       30.8    30.2
Equity in losses of unconsolidated affiliates       (.2)    (.5)
Net income                                         30.6    29.7
Cash dividends declared                           (12.5)  (20.0)
Retained earnings at beginning of the period      705.2   644.4
Retained earnings at end of the period           $723.3  $654.1

            See Notes to Interim Financial Statements.

Page 2

<PAGE>

          John Deere Capital Corporation and Subsidiaries
                   Consolidated Balance Sheets
                          (Unaudited)
                     (dollars in millions)

                                 Jan 31,     Oct 31,     Jan 31,
                                  1998        1997        1997
Assets          
  Cash and cash equivalents     $  197.5    $  204.4    $  173.9
  Receivables and leases:            
    Retail notes                 4,662.3     4,349.4     4,347.9
    Wholesale notes                600.0       593.4       538.4
    Revolving charge accounts      504.5       618.5       472.7
    Financing leases               212.0       214.6       192.4
      Total receivables          5,978.8     5,775.9     5,551.4
    Equipment on operating 
      leases - net                 577.1       527.2       325.1
      Total receivables and 
        leases                   6,555.9     6,303.1     5,876.5
    Allowance for credit losses    (88.0)      (85.9)      (88.5)
      Total receivables and 
        leases - net             6,467.9     6,217.2     5,788.0
  Other receivables                143.4       157.9       185.2
  Investment in unconsolidated  
    affiliates                      12.6        12.8         5.7
  Other assets                      65.1        66.8        68.1
Total Assets                    $6,886.5    $6,659.1    $6,220.9

Liabilities and Stockholder's 
    Equity            
  Short-term borrowings:            
    Commercial paper            $2,098.6    $1,991.9    $2,125.1
    Deere & Company                181.5       349.9       168.5
    Current maturities of 
      long-term borrowings       1,248.5     1,042.5       955.3
       Other notes payable           3.7         2.4          --
      Total short-term 
        borrowings               3,532.3     3,386.7     3,248.9

  Accounts payable and accrued 
      liabilities:            
    Accrued interest on 
      senior debt                   58.7        39.2        49.2
    Other payables                 227.8       188.3       174.9
      Total accounts payable 
        and accrued liabilities    286.5       227.5       224.1
  Deposits withheld from dealers 
    and merchants                  141.5       144.2       128.1
  Long-term borrowings:            
    Senior debt                  1,940.4     1,782.9     1,703.0
    Subordinated debt              150.0       300.0       150.0
      Total long-term borrowings 2,090.4     2,082.9     1,853.0
        Total liabilities        6,050.7     5,841.3     5,454.1
  Stockholder's equity            
    Common stock, without par 
      value (issued and 
      outstanding - 2,500 shares 
      owned by John Deere Credit 
      Company)                     112.8       112.8       112.8
    Retained earnings              723.3       705.2       654.1
    Cumulative translation 
        adjustment                   (.3)        (.2)        (.1)
      Total stockholder's equity   835.8       817.8       766.8
Total Liabilities and 
  Stockholder's Equity          $6,886.5    $6,659.1    $6,220.9

              See Notes to Interim Financial Statements.

Page 3

<PAGE>

         John Deere Capital Corporation and Subsidiaries
              Statements of Consolidated Cash Flows
                           (Unaudited)
                          (in millions)

                                             Three Months Ended 
                                                 January 31
                                               1998      1997
Cash Flows from Operating Activities:  
  Net income                                 $   30.6  $   29.7
  Adjustments to reconcile net income to 
      net cash provided by operating 
      activities:    
    Provision for credit losses                   9.3       6.5
    Provision for depreciation                   24.2      14.2
    Equity in losses of unconsolidated 
      affiliates                                   .2        .5
    Other                                        14.4      (2.6)
      Net cash provided by operating 
        activities                               78.7      48.3
        
Cash Flows from Investing Activities:        
  Cost of receivables and leases acquired    (1,675.4) (1,604.4)
  Collections of receivables                  1,375.5   1,323.3
  Proceeds from sales of receivables             12.1       2.3
  Other                                          69.3      49.5
       Net cash used for investing 
         activities                            (218.5)   (229.3)
        
Cash Flows from Financing Activities:        
  Increase in commercial paper                  108.0     435.2
  Change in receivable/payable with 
    Deere & Company                            (177.1)   (376.3)
  Proceeds from issuance of long-term 
    borrowings                                  306.0     145.0
  Principal payments on long-term 
    borrowings                                  (91.5)      ---
  Dividends paid                                (12.5)    (20.0)
       Net cash provided by financing 
         activities                             132.9     183.9
        
Net increase (decrease) in cash and 
  cash equivalents                               (6.9)      2.9
Cash and cash equivalents at the 
  beginning of period                           204.4     171.0
Cash and cash equivalents at the 
  end of period                              $  197.5  $  173.9


           See Notes to Interim Financial Statements.

Page 4

<PAGE>

         John Deere Capital Corporation and Subsidiaries
              Notes to Interim Financial Statements

(1)  The consolidated financial statements of John Deere Capital 
Corporation (Capital Corporation) and its subsidiaries (the 
Company) have been prepared by the Company, without audit, 
pursuant to the rules and regulations of the Securities and 
Exchange Commission.  Certain information and footnote 
disclosures normally included in annual financial statements 
prepared in accordance with generally accepted accounting 
principles have been condensed or omitted as permitted by such 
rules and regulations.  All adjustments, consisting of normal 
recurring adjustments, have been included.  Management believes 
that the disclosures are adequate to present fairly the 
financial position, results of operations and cash flows at the 
dates and for the periods presented.  It is suggested that these 
interim financial statements be read in conjunction with the 
financial statements and the notes thereto included in the 
Company's latest annual report on Form 10-K.  Results for 
interim periods are not necessarily indicative of those to be 
expected for the fiscal year.

The preparation of financial statements in conformity with 
generally accepted accounting principles requires management to 
make estimates and assumptions that affect the reported amounts 
and related disclosures.  Actual results could differ from those 
estimates.

(2)  The principal business of the Company is providing and 
administering financing for retail purchases of new and used 
equipment manufactured by Deere & Company's agricultural, 
construction and commercial and consumer equipment divisions.  The 
Company purchases retail installment sales and loan contracts 
(retail notes) from Deere & Company and its wholly-owned 
subsidiaries (collectively called John Deere).  These retail notes 
are acquired by John Deere through independent John Deere retail 
dealers.  The Company also purchases and finances certain 
agricultural, construction and lawn and grounds care retail notes 
unrelated to John Deere.  In addition, the Company purchases and 
finances recreational product retail notes acquired from 
independent dealers and marine product mortgage service companies 
(recreational product retail notes).  The Company also leases 
equipment to retail customers, finances and services revolving 
charge accounts acquired from and offered through merchants in the 
agricultural, construction, lawn and grounds care and yacht 
markets (revolving charge accounts), and provides wholesale 
financing for inventories of recreational vehicles, manufactured 
housing units, yachts, John Deere engines, and John Deere 
agricultural and John Deere construction equipment owned by 
dealers of those products (wholesale notes). Retail notes, 
revolving charge accounts, direct financing leases and wholesale 
notes receivable are collectively called "Receivables." 
Receivables and operating leases are collectively called 
"Receivables and Leases."

(3)  The Company's ratio of earnings to fixed charges was 1.53 
to 1 for the first quarter of 1998 compared with 1.64 to 1 for 
the first quarter of 1997.  "Earnings" consist of income before 
income taxes, the cumulative effect of changes in accounting and 
fixed charges.  "Fixed charges" consist of interest on 
indebtedness, amortization of debt discount and expense, an 
estimated amount of rental expense under capitalized leases 
which is deemed to be representative of the interest factor and 
rental expense under operating leases.

(4)  Beginning in September 1997, certain notes from dealers for 
the financing of "purchase for rental equipment" were considered 
wholesale notes.  Prior to that time, such notes were considered 
retail notes.  During the first quarter of 1998, $37 million of 
these wholesale notes were acquired.  Prior period volumes and 
ending balances have not been adjusted to reflect this change in 
policy.

Page 5

<PAGE>

Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations.

Results of Operations

Net income was $30.6 million in the first quarter of 1998 
compared with $29.7 million last year.  First quarter results 
reflect higher income from a larger average Receivables and 
Leases portfolio, partially offset by higher operating expenses, 
lower securitization and servicing fee income and narrower 
financing spreads.

Revenues totaled $198.2 million for the first quarter ended 
January 31, 1998, compared to $163.5 million for the same period 
a year ago.  Finance income earned on retail notes increased 13 
percent from $92.2 million during the first quarter of 1997 to 
$104.4 million in 1998.  Lease revenues increased $17.0 million 
from $22.7 million in 1997 to $39.7 million this year, primarily 
due to an increase in agricultural operating lease volumes.  
Revenues on revolving charge accounts increased in the first 
quarter of 1998 over the prior year, due to increasing demand 
for producer operating loans and Farm Plan credit, while 
wholesale finance income increased due primarily to increases in 
yacht wholesale note volumes.

Other income increased from $1.8 million during the first 
quarter of 1997 to $4.5 million during the first quarter of 
1998.  The increase in other income was primarily due to a gain 
on sale adjustment from prior note sales and a net increase in 
realized gains associated with sales of equipment used for 
operating leases.

Total interest expense for the first quarter increased from 
$71.5 million in 1997 to $88.3 million in 1998.  The increase in 
interest expense was the result of increased borrowings required 
to finance the higher average portfolio of Receivables and 
Leases and an increase in the Company's average borrowing costs.  
Total average borrowings during the first quarter of 1998 were 
$5.534 billion, compared to $5.015 billion during the first 
quarter of 1997.  The weighted average interest rate during the 
first quarter of 1998 was 6.2 percent, compared to 6.0 percent 
in the first quarter of 1997.

Administrative and operating expenses increased to $26.5 million 
in the first quarter of 1998, compared to $22.7 million for the 
same period in 1997.  This increase was the result of higher 
employment costs associated with administering a larger 
Receivables and Leases portfolio.  Depreciation of equipment on 
operating leases increased to $23.4 million in the first quarter 
of 1998, compared to $14.3 million for the same period in 1997, 
a direct reflection of the Company's increase in operating lease 
volumes.

During the first quarter of 1998, the provision for credit 
losses totaled $9.3 million compared with $6.5 million in the 
same period last year.  The increase in the Company's loss 
provision was due primarily to the growth in the portfolio of 
Receivables and Leases and higher write-offs during the quarter.  
The provision for credit losses, as a percentage of the total 
average portfolio outstanding was .58 percent and .48 percent 
for the first quarter of 1998 and 1997, respectively. 

For the quarter ended January 31, 1998, all categories of retail 
note volumes remained relatively stable when compared to the 
same period in 1997.  Within the recreational product line, 
recreational vehicle volumes increased $13 million in the first 
quarter of 1998 over the first quarter of 1997, while yacht 
retail note volumes declined by $12 million during the same 
period.  Wholesale note volumes increased $27 million, or 11 
percent, reflecting increases in dealer purchase for rental, 
yacht, RV and engine volumes.  Revolving charge accounts 
increased $25 million in the first quarter of 1998 over the 
first quarter of 1997, primarily due to increases in Farm Plan 
and producer operating loans.  Operating lease volumes increased 
from $72 million in the first quarter of 1997 to $96 million in 
the first quarter of 1998, primarily the result of agricultural 
low-rate and guaranteed value leasing programs sponsored by John 
Deere and the Company.

Page 6

<PAGE>

Total acquisition volumes of Receivables and Leases during the 
first quarter ended January 31, 1998 and 1997 were as follows 
(dollars in millions):

                                       Three Months    
                                     Ended January 31,  
                                                        $    %  
                                       1998     1997  Chng Chng
Retail notes volumes:        
  Agricultural equipment             $  838   $  840  $ (2)  --
  Construction equipment                 97      100    (3)  (3)
  Lawn and grounds care equipment        21       23    (2)  (9)
  Recreational products                  65       64     1    2
    Total retail note volumes         1,021    1,027    (6)  --
Revolving charge accounts               256      231    25   11
Wholesale notes                         279      252    27   11
Financing leases                         23       23    --   --
Equipment on operating leases            96       72    24   33
    Total Receivable and Lease 
      volumes                        $1,675   $1,605   $70    4

Total Receivables and Leases held at January 31, 1998, October 
31, 1997 and January 31, 1997 were as follows (in millions):

                                       Jan 31,  Oct 31,  Jan 31,
                                        1998     1997     1997
Retail notes held:      
  Agricultural equipment               $2,863   $2,556   $2,675 
  Construction equipment                  666      660      644 
  Lawn and grounds care equipment         205      216      180 
  Recreational products                   928      917      849 
    Total retail notes held             4,662    4,349    4,348 
Revolving charge accounts                 505      619      473 
Wholesale notes                           600      593      538 
Financing leases                          212      215      193
Equipment on operating leases             577      527      325
    Total Receivables and Leases held  $6,556   $6,303   $5,877 

Retail notes administered by the Company, which includes retail 
notes previously sold, totaled $5.676 billion at January 31, 
1998, $5.663 billion at October 31, 1997, and $5.317 billion at 
January 31, 1997.  At January 31, 1998, the balance of retail 
notes previously sold was $1.014 billion compared with $1.314 
billion at October 31, 1997 and $969 million at January 31, 
1997.  The Company's estimated maximum exposure under all retail 
note recourse provisions at January 31, 1998 was $163 million.  

The balance of retail notes held (principal plus accrued 
interest) with any installment 60 days or more past due was 
$56.1 million, $44.4 million and $60.6 million at January 31, 
1998, October 31, 1997 and January 31, 1997, respectively.  The 
balance of retail notes held on which any installment was 60 
days or more past due as a percentage of ending retail notes 
receivable was 1.20 percent, 1.02 percent and 1.39 percent at 
January 31, 1998, October 31, 1997 and January 31, 1997, 
respectively.

Page 7

<PAGE>

Total amounts of Receivables and Leases 60 days or more past 
due, by product and as a percentage of total balances held at 
January 31, 1998, October 31, 1997 and January 31, 1997, were as 
follows (dollars in millions):

                              Jan 31,      Oct 31,      Jan 31,
                               1998         1997         1997 
                              $    %       $    %       $    %
Retail notes:            
  Agricultural equipment   $ 8.3  .29%  $ 6.8  .27%  $ 6.4  .24%
  Construction equipment     2.7  .40     2.0  .31     3.0  .47
  Lawn and grounds care 
    equipment                 .7  .32      .6  .28      .9  .49
  Recreational products       .2  .03      .3  .03      .4  .05
    Total retail notes      11.9  .26     9.7  .22    10.7  .25
Revolving charge accounts   10.6 2.11     8.3 1.34    12.0 2.57
Wholesale notes              2.2  .37     2.0  .33     1.8  .34
Leases                       3.2  .40     2.0  .27     3.0  .57
    Total Receivables 
      and Leases           $27.9  .43   $22.0  .35   $27.5  .47

During the first quarter of 1998, write-offs of Receivables and 
Leases totaled $7.2 million, compared with $5.5 million during 
the first quarter of 1997.  Agricultural and construction 
equipment write-offs increased slightly over last year, for both 
retail notes and leasing products, while recreational product 
retail note write-offs declined and revolving charge account 
write-offs remained relatively unchanged.  Annualized write-
offs, as a percentage of the total average portfolio 
outstanding, were .44 percent for the first quarter of 1998 and 
 .40 percent during the same period last year.

Deposits withheld from dealers and merchants, representing 
mainly the aggregate dealer retail note and lease withholding 
accounts from individual John Deere dealers to which losses from 
retail notes and leases originating from the respective dealers 
can be charged, amounted to $141.5 million at January 31, 1998, 
compared with $144.2 million at October 31, 1997 and $128.1 
million at January 31, 1997.  The Company's allowance for credit 
losses on all Receivables and Leases financed totaled $88.0 
million at January 31, 1998, $85.9 million at October 31, 1997 
and $88.5 million at January 31, 1997.  Allowance for credit 
losses represented 1.34 percent of the unpaid balance of 
Receivables and Leases financed at January 31, 1998, 1.36 
percent at October 31, 1997 and 1.51 percent at January 31, 
1997.  The Company's allowance for credit losses, as a 
percentage of total Receivables and Leases, has declined during 
the last twelve months due to an ongoing reevaluation of loss 
experience and related adjustments to ensure the allowance is 
maintained at an adequate level.

Capital Resources and Liquidity

The Company relies on its ability to raise substantial amounts 
of funds to finance its Receivables and Leases portfolio.  The 
Company's primary sources of funds for this purpose are a 
combination of borrowings and equity capital.  Additionally, the 
Company periodically sells substantial amounts of retail notes 
in the public market and in private sales.  The Company's 
ability to obtain funds is affected by its debt ratings, which 
are closely related to the outlook for and the financial 
condition of Deere & Company, and the nature and availability of 
support facilities, such as its lines of credit.  For 
information regarding Deere & Company and its business, see 
Exhibit 99.  

The Company's ability to meet its debt obligations is supported 
in a number of ways as described below.  All commercial paper 
issued is backed by bank credit lines.  The assets of the 
Company are self-liquidating in nature.  A strong equity 
position is available to absorb unusual losses on these assets.  
Liquidity is also provided by the Company's ability to sell 
these assets.  Asset-liability risk is also managed to minimize 
exposure to interest rate fluctuations.

Page 8

<PAGE>

Total interest-bearing indebtedness amounted to $5.623 billion 
at January 31, 1998, compared with $5.470  billion at October 
31, 1997 and $5.102 billion at January 31, 1997, generally 
corresponding with the level of Receivables and Leases financed.  
Total short-term indebtedness amounted to $3.532  billion at 
January 31, 1998, compared with $3.387 billion at October 31, 
1997 and $3.249 billion at January 31, 1997.  Total long-term 
indebtedness amounted to $2.091 billion, $2.083 billion and 
$1.853 billion at January 31 1998, October 31, 1997 and January 
31, 1997, respectively.  The ratio of total interest-bearing 
debt to stockholder's equity remained unchanged at 6.7 to 1 on 
January 31, 1998, October 31, 1997 and January 31, 1997.  During 
the first quarter of 1998, the Capital Corporation issued $200 
million of 5.85% notes, due in 2001.  The Capital Corporation 
also issued $106.0 million and retired $91.5 million of medium-
term notes.

At January 31, 1998, the Capital Corporation, Deere & Company, 
John Deere Limited (Canada) and John Deere Credit, Inc. 
(Canada), jointly, maintained $4.014 billion of unsecured lines 
of credit with various banks in North America and overseas, $404 
million of which was unused.  For the purpose of computing 
unused credit lines, total short-term borrowings, excluding the 
current portion of long-term borrowings, of the Capital 
Corporation, Deere & Company, John Deere Limited (Canada) and 
John Deere Credit, Inc. (Canada), were considered to constitute 
utilization.  Included in the total credit lines is a long-term 
credit agreement expiring on February 25, 2002, for $3.500 
billion.  An annual facility fee on the credit agreement is 
charged to the Capital Corporation based on utilization.

The Company's business is somewhat seasonal, with overall 
acquisitions of Receivables and Leases traditionally higher in 
the second half of the fiscal year than in the first half, and 
overall collections of Receivables and Leases traditionally 
somewhat higher in the first half of the fiscal year.

During the first quarter of 1998, the aggregate net cash 
provided by operating and financing activities was primarily 
used to increase Receivables and Leases.  Net cash provided by 
operating activities was $79 million in the first quarter of 
1998.  Financing activities provided $133 million during the 
same period, resulting from a $145 million increase in total 
borrowings, which was offset by a $12.5 million dividend payment 
to John Deere Credit Company.  Net cash used for investing 
activities totaled $219 million in 1998, primarily due to 
Receivables and Leases acquired exceeding collections by $300 
million.  Cash and cash equivalents decreased $7 million during 
the first quarter of 1998.  

During the first quarter of 1997, the aggregate net cash 
provided by operating and financing activities was used to 
increase Receivables and Leases.  Net cash provided from 
operating activities was $48 million during the first quarter of 
1997.  Financing activities provided $184 million during the 
first quarter of 1997, resulting from a $204 million increase in 
total borrowings, which was offset by a $20 million dividend 
payment to John Deere Credit Company.  Net cash used for 
investing activities totaled $229 million in the first quarter 
of 1997, primarily because the cost of Receivables and Leases 
acquired exceeded the collections.  Cash and cash equivalents 
increased $3 million during the first quarter of 1997.  

The Capital Corporation paid a cash dividend to John Deere 
Credit Company of $12.5 million in the first quarter of 1998.  
John Deere Credit Company paid a comparable dividend to Deere & 
Company.  On February 27, 1998, the Capital Corporation declared 
a dividend of $12.5 million to John Deere Credit Company, which 
in turn, declared a dividend of $12.5 million to Deere & 
Company, each payable on March 10, 1998.

Item 3.  Quantitative and Qualitative Disclosures About Market
         Risk.

    See the information under "Management's Discussion and
Analysis," Note 12 "Financial Instruments" and "Supplemental
Information (Unaudited)" in the Company's annual report on
Form 10-K. There has been no material change in this 
information.

Page 9

<PAGE>

                  PART II.    OTHER INFORMATION

Item 1.  Legal Proceedings.

      The Company is subject to various unresolved legal actions
      which arise in the normal course of its business, the most 
      prevalent of which relate to state and federal laws and 
      regulations concerning retail credit.  Although it is not 
      possible to predict with certainty the outcome of these 
      unresolved legal actions or the range of possible loss, 
      the Company believes these unresolved legal actions will 
      not have a material effect on its financial position or 
      results of operations.

Item 2.  Changes in Securities and Use of  Proceeds.

      Omitted pursuant to instruction H(2).

Item 3.  Defaults Upon Senior Securities.

      Omitted pursuant to instruction H(2).

Item 4.  Submission of Matters to a Vote of Security Holders.

      Omitted pursuant to instruction H(2).

Item 5.  Other Information.

      None.

Item 6.  Exhibits and Reports on Form 8-K.

      (a)  Exhibits.

           See the index to exhibits immediately preceding the 
           exhibits filed with this report.

           Certain instruments relating to long-term debt, 
           constituting less than 10% of the registrant's total 
           assets, are not filed as exhibits herewith pursuant 
           to Item 601(b)(4)(iii)(A) of Regulation S-K.  The 
           registrant will file copies of such instruments upon 
           request of the Commission.

      (b)  Reports on Form 8-K.

           Current report on Form 8-K dated November 25, 1997 
           (items 5 and 7).

Page 10

<PAGE>

                         SIGNATURES

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 thereunto duly authorized.

                                 JOHN DEERE CAPITAL CORPORATION
Date:  March 10, 1998         By:  /s/  N. J. Jones
       ---------------             ---------------------
                                        N. J. Jones
                                        Vice President and
                                        Principal Financial
                                        Officer


Page 11

<PAGE>

                       INDEX TO EXHIBITS

Exhibit                                               Page No.
  
(12)    Computation of ratio of earnings to 
        fixed charges                                    13
  
(27)    Financial data schedule                          14
  
(99)    Part I of Deere & Company Form 10-Q for the 
        quarter ended January 31, 1998 (Securities 
        and Exchange Commission file number 1-4121*).





__________________________
*  Incorporated by reference.  Copies of these exhibits are 
available from the Company upon request.

Page 12