By any measure, sales of ag equipment were exceptional in 2008. While manufacturers are hopeful of another solid year in 2009, the continuing deterioration of overseas economies will likely stunt profit growth the equipment makers saw last year. 

Recapping 2008’s farm equipment sales by the full-line manufacturers — AGCO, CNH and John Deere — shows that each of their overseas sales rose dramatically last year, aided in large part by very favorable foreign exchange (FX)…