1715 ET - Despite a tough farm economy in 2024, Corteva expects improvements this year. "We acknowledge the fluid macro environment but still see ag market fundamentals improving - specifically, we see continued record demand for core crops and recovering grain prices and farm margins," CEO Chuck Magro said in a statement. Shares of the agriculture company ticked down 6% during post-market trading after it said sales rose 7% to about $4 billion in its latest quarter, slightly below analyst expectations for the period. Corteva, one of the largest sellers of crop seeds and chemicals in the world, and other agriculture companies faced a tough agriculture market this past year because of declining grain prices and rising costs. Corteva said sales volumes for its pesticides and seeds both were up double digits for the quarter that ended Dec. 31 compared with the prior year as prices for its products ticked down. (patrick.thomas@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 17:15 ET (22:15 GMT)
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