July 30 (Reuters) – U.S. agriscience company Corteva on Thursday raised it 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.
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 to $3.80 per share, up from a prior view of $3.45-$3.70 per share.
(Reporting by Varun Sahay in Bengaluru; Editing by Shailesh Kuber)
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