Adds background, details from the results Aug 19 (Reuters) - Deere & Co DE.N reported a rise in quarterly profit on Friday as higher equipment demand coupled with a robust pricing environment helped the world's largest farm equipment maker to offset inflationary cost pressures. Gaps between the supply and demand for grains increased amid the Ukraine crisis while growing consumer demand spiked prices, putting pressure on farmers to produce more and upgrade their aging fleet. Last month, Deere's peer AGCO Corp AGCO.N said there would not be enough grain in the market for some time, which would support prices.