DEERE JOHN CAPITAL CORP
424B3, 1995-03-21
MISCELLANEOUS BUSINESS CREDIT INSTITUTION
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PROSPECTUS AND			PRICING SUPPLEMENT NO. 32
PROSPECTUS SUPPLEMENT,		Effective at 3:35 PM ET
each dated August 6, 1993	March 20, 1995
CUSIP 24422EFN4			Commission File No.: 33-66082
					Filed pursuant to Rule 424(b)(3)


		U.S. $188,850,000

	JOHN DEERE CAPITAL CORPORATION

	 MEDIUM-TERM NOTES, SERIES B

Due from 9 Months to 30 Years from Date of Issue

Interest payable each March 15, September 15, and at Maturity
	----------------------------------------------

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 rates offered by John Deere Capital Corporation with
respect to the Senior Notes may differ depending upon, among
other things, the aggregate principal amount of Senior Notes
purchased in any single transaction.  Merrill Lynch & Co., 
Merrill Lynch, Pierce, Fenner & Smith Incorporated has purchased
the Senior Notes as principal at a price of 99.525% of the principal
amount of the Senior Notes for resale to investors and other
purchasers at varying prices related to prevailing market prices
at the time of resale.


AGGREGATE PRINCIPAL AMOUNT:		$10,000,000

DATE OF ISSUE:				April 4, 1995

MATURITY DATE:				April 6, 1998

INTEREST RATE:				7.00% PER ANNUM


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			MERRILL LYNCH & CO.

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