Record US Corn Crop Drives Profits for Crop Chemical Makers
Workers harvest corn at Yakama Nation Farms in Wapato, Washington, on July 31.
Photographer: Emree Weaver/BloombergExpectations of a record US corn crop this year fueled earnings from agricultural chemical giants Nutrien Ltd. and Corteva Inc.
Nutrien, the world’s largest fertilizer maker posted second-quarter earnings that beat expectations and raised its midpoint potash sales guidance for the year by 1.4%, the company said in a statement on Wednesday. Corteva Inc., which makes seeds and crop protection chemicals, raised its full-year net sales outlook by 1.7% at the midpoint.