Agricultural chemical and seed company Corteva beat Wall Street estimates for fourth-quarter profit on Wednesday as higher prices in its seeds business offset lower volumes and announced plans to repurchase nearly $1 billion shares in 2024.
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Corteva profit beats on higher seed prices; plans $1 bln share buyback
Depressed seed sales offset by higher price in North American and European markets and higher corn acres
Crop-killing weeds advance across US farmland as chemicals lose effectiveness
Losing battle with weeds adds pressures to farmers already stressed by inflation, extreme weather
Crop-killing weeds such as kochia are advancing across the U.S. northern plains and Midwest, in the latest sign that weeds are developing resistance to chemicals faster than companies including Bayer BAYGn.DE and Corteva CTVA.N can develop new ones to fight them.
DLF buys Corteva’s alfalfa seed business
Business to be 'fully transitioned' after 2024 season
International forage and turf seed firm DLF is stretching its reach in the alfalfa market with a deal for Corteva Agriscience’s assets in that business. The Danish firm announced Wednesday it had acquired Corteva’s global alfalfa germplasm and breeding program for an undisclosed sum, including its current commercial alfalfa varieties and their trademarks such as
Corteva cuts sales forecast on weak demand for crop protection products
Net seed sales rose eight per cent from a year ago, aided by strong prices and increased corn acres
Reuters – Agricultural chemical and seed company Corteva CTVA.N cut its annual sales expectations as demand for its crop protection products showed signs of contraction. Rise in carrying cost of stock for distributors driven by higher interest rates and improved product availability have taken a toll on demand for crop protection products such as herbicide
Corteva raises sales outlook after topping quarterly profit estimates
Reuters – Agricultural chemical and seed company Corteva raised its full-year forecast May 3 after it beat quarterly profit estimates. The company’s performance was aided by higher prices and strong demand for seeds, sending its shares up two per cent in extended trade. Crop prices have scaled back after rising to record highs last year
Corteva cuts U.S. jobs while exiting Russia
California plant produces seed for sunflower growers
Chicago | Reuters — Seeds and pesticides company Corteva will eliminate U.S. jobs next year, as its exit from Russia reduces demand for its commercial sunflower seeds produced in California, the company said on Monday. Corteva will cut 51 positions from a Woodland, California facility, run by its Pioneer Hi-Bred International subsidiary, that supplied Europe
Corteva to buy biological plant stimulant firm Stoller
Corteva paying US$1.2 billion cash
One of the majors in seed and crop protection is set to further expand its reach in the crop biologicals sector with a deal to buy the Stoller Group. Corteva Agriscience said Wednesday it had signed a “definitive agreement” to buy Houston-based Stoller in an all-cash acquisition worth US$1.2 billion (C$1.61 billion), which it expects
Corteva third-quarter loss narrows on demand for agricultural products
Reuters – Agricultural chemical and seed company Corteva Inc CTVA.N on Thursday posted a smaller-than-expected third-quarter adjusted loss as farmers looked to maximize yields at a time of low global grain supplies. Operating loss was 12 cents per share in the July-September quarter, from 14 cents per share a year earlier. Analysts on average had expected
U.S. trade commission sues pesticide makers, alleging price scheme
Washington | Reuters — The U.S. Federal Trade Commission on Thursday sued two top pesticide manufacturers for allegedly entering into exclusive contracts with distributors that kept prices paid by farmers artificially high. The consumer watchdog agency was motivated to bring the case in part because rising costs and supply chain disruptions from Russia’s invasion of
Corteva to exit some markets, cut jobs in cost-saving push
Canada remains among company's 'core' markets
Reuters — Seeds and pesticides company Corteva on Tuesday announced plans to exit about 35 countries and lay off roughly five per cent of its global workforce as part of the company’s cost-cutting plans. A surge in inflation this year to four-decade highs has forced Corporate America to slash planned spending and roll out measures
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