The proposed contract would have delivered immediate 5% raises for some workers and 6% raises for others depending on their positions within Deere's factories. The pact also called for 3% raises in 2023 and 2025.
The contract talks come as strong sales this year helped Deere report $4.68 billion net income for the first nine months of its fiscal year, which was more than double the $1.993 billion it reported a year ago.
The company is expecting to earn between $5.7 billion and $5.9 billion this fiscal year.
The membership's rejection also comes after UAW-represented workers at a Volvo Trucks plant in Virginia went on strike and rejected three tentative contract offers last spring before ratifying the third offer on a revote.
The workers ended up with better pay and lower-cost health benefits. The strike and multiple rejections of contracts agreed to by union leaders showed that workers are emboldened by a nationwide shortage of employees that's affecting nearly all industries.
Shares of Deere & Co. stock declined less than 1% in midday trading on Monday.