U.S. agrichemicals company Corteva raised its annual adjusted profit forecast on Wednesday, following strong performance in the first half of the year.
Reuters had reported in May that U.S. farmers have hit very few snags with corn planting this spring, and the foreseeable future is barrier-free.
Corteva’s net sales rose 5.6 per cent to $6.46 billion (C$8.88 billion) during the second quarter, driven by higher sales in all its regions.
The company is among the largest crop-protection product makers in the United States, competing with the likes of Syngenta and German firms BASF and Bayer in the agricultural chemicals sector.
The company raised its forecast for full-year adjusted earnings to be between $3.00 to $3.20 per share, from a prior view of $2.70 to $2.95 per share.
— Reporting by Pooja Menon in Bengaluru
