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The logo and trading info for Corteva Agriscience displayed on the New York Stock Exchange in New York. Photo: Reuters/Brendan McDermid
General, Markets, Reuters

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

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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 […] Read more
(Laura Rance photo)
Crops, Reuters

Corteva cuts U.S. jobs while exiting Russia

California plant produces seed for sunflower growers

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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 […] Read more
(Stoller Group video screengrab via YouTube)
Crops

Corteva to buy biological plant stimulant firm Stoller

Corteva paying US$1.2 billion cash

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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 […] Read more
The logo and trading info for Corteva Agriscience displayed on the New York Stock Exchange in New York. Photo: Reuters/Brendan McDermid
Markets, Reuters

Corteva third-quarter loss narrows on demand for agricultural products

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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 […] Read more
(Leonid Eremeychuk/iStock/Getty Images)
Crops, Reuters

U.S. trade commission sues pesticide makers, alleging price scheme

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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 […] Read more
(File photo by Lisa Guenther)
Crops, Reuters

Corteva to exit some markets, cut jobs in cost-saving push

Canada remains among company's 'core' markets

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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 […] Read more
The logo and trading info for Corteva Agriscience displayed on the New York Stock Exchange in New York. Photo: Reuters/Brendan McDermid
Reuters

Corteva raises forecast as demand for seeds, crop protection products booms

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Bengaluru | Reuters – Corteva Inc CTVA.N on Thursday raised its full-year sales and profit forecasts as the crop protection products maker benefits from surging demand from farmers looking to cash in on higher prices since the Ukraine war. The company, which reported a 14 percent jump in second-quarter operating earnings, also unveiled plans to exit some […] Read more
File photo of emerging durum south of Griffin, Sask. on May 31, 2019. (Leeann Minogue photo)
Crops, Weather

BASF warns on seeding choices for drought-hit imi-treated fields

Steer clear of non-Clearfield canola, durum, canary seed in rotations, company says

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Updated, Sept. 22 — The maker of Odyssey, Solo and Viper is warning grain growers whose fields were excessively dry in 2021 that those herbicides may not break down soon enough in those soils to allow certain seeding choices in 2022. BASF Canada on Monday issued an “urgent notice to growers” in which the company […] Read more
File photo of a canola crop south of Ethelton, Sask. in 2019. (Dave Bedard photo)
Canola, Crops, Weather

Nexera canola seed to come with heat blast insurance

Corteva's 'Heat Advantage' provides coverage on seed purchased by Oct. 29

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Farmers can’t prevent canola flowers from aborting in hot weather resulting in lower yields, but one seed company is providing some insurance against it — as part of the price of the seed. Brevant’s Nexera canola seed comes with a “a first-of-its-kind” insurance policy worth up to $100 an acre to offset yield losses due […] Read more

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