I can't tell you what is wrong with your tractor but I can give you some advice on how to move forward after trying to diagnose and fix a similar problem with my 6420. First, make arrangements to get the crop in assuming the tractor is down. Next buy the manuals. They aren't cheap but guessing and unneeded parts aren't either. CD are cheaper than paper but I don't find them as handy. The Deere Tech manuals basically tell you how to take it apart and put it back together. The ones that will really help are the Operations and Tests and Diagnostics manuals. You will have to determine the problem and fix it yourself because you don't have the money to spend on parts and time the dealer will throw at it and I mean throw at it because they don't have the technicians with the skills or time to properly diagnose the problem. To me it sounds like the ECM is defaulting and shifting the transmission into neutral for some reason. I'm not familiar with the 7000 series tractors are there fault codes that can be read? Is the trans light a trans pressure light? The way you describe letting it sit and then it will work fine afterward doesn't sound like a hydraulic problem.
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