Corteva raises full-year profit forecast

In the second quarter, crop prices were mixed, as corn and soybeans gained on expectations of reduced U.S. plantings, while wheat remained under pressure from abundant global supplies.

The company now expects full-year adjusted earnings between $3.60 and $3.80 per share, up from a prior view of $3.45 to $3.70 per share.

U.S. agriscience company Corteva CTVA.N on Thursday raised its forecast for full-year adjusted profit, based on strong demand across key crop markets.

The acreage shift toward soybeans and away from corn is expected to support demand for seed traits, as farmers adjust planting decisions in response to higher input costs and tighter margins.