July 31 (Reuters) - Farm and construction equipment

maker CNH Industrial ( CNH ) on Wednesday lowered its full-year

profit forecast for the second time, as slowing demand for its

tractors and combines keeps hopes for a recovery in the second

half of the year muted.

The company now expects its full year adjusted profit to be

in a range of $1.30 to $1.40 per share, compared with $1.45 to

$1.55 per share previously.

A sharp drop in crop prices coupled with rising

production costs have lowered farm incomes around the world,

forcing farmers to rethink upon purchasing heavy equipment, thus

setting a gloomy demand environment for agriculture equipment

makers.

The Basildon, UK-based company now expects its

agriculture segment net sales to be down between 15% and 20%

year-over-year, compared with a fall of 11% to 15% expected

previously.