Corteva (CTVA) 21st Annual Global Farm to Market Conference summary

Business performance and market outlook

• Achieved double-digit growth in both crop protection and seed businesses in Q1, with strong global performance and improved mix and lower costs.

• Maintained guidance at $4.1 billion, with agricultural demand strong for grains, oilseeds, and biofuels; 2026 biofuel demand expected to set a new record.

• U.S. planted area expected at 95 million acres for corn and 85 million for soybeans; LATAM may see 1–2 million hectares of incremental soybean production.

• Brazilian seed price cards to be released soon, with modest price increases in corn and flat to slightly up in soybeans; aiming for a third of Brazilian soybean market by decade's end.

• Licensing business in corn and soybeans targeting $1 billion net revenue over the next decade, with hybrid wheat launch in 2027 offering another $1 billion opportunity over 10–15 years.

Separation and strategic rationale

• On track for Q4 separation into Vylor (seed) and New Corteva (crop protection), with leadership teams and headquarters announced.

• Rationale centers on diverging growth paths and reduced overlap between seed technology and crop protection, enabling more focused innovation and partnerships.

• Net dis-synergy from separation estimated at $100 million, trending favorably; businesses already operate largely independently with minimal integration required.

• Both entities expected to have strong, investment-grade balance sheets, with capital deployment strategies to be detailed at investor days in September.

Technology, innovation, and competitive landscape

• Significant investment in gene-edited technology, expected to drive higher yields, disease resistance, and new revenue models; first gene-edited corn hybrid with disease super locus to launch in 2028.

• Hybrid wheat production system patented, enabling 10–15% yield improvement and better farm-level economics; global rollout planned where IP protection exists.

• Competitive landscape remains intense, with new technologies from competitors and internal pipeline strength highlighted; collaboration and licensing seen as key industry trends.