Corteva Announces Breakthrough Hybrid Wheat Technology

Key Takeaways

• Corteva has developed a proprietary non-GMO hybrid wheat technology.
• The technology has the potential to increase wheat yields by 10% while using the same amount of land and resources.
• In trials, Corteva’s hybrid wheat demonstrated 20% higher yields than elite varieties in water-stressed environments, enhancing drought resistance.
• The innovation accelerates the development of elite germplasm and enables more efficient parent seed production.
• Corteva plans to introduce hybrid Hard Red Winter wheat in North America by 2027.

Advancing Wheat Production with Hybrid Technology

Corteva has announced a breakthrough in wheat production, unveiling a new non-GMO hybrid wheat technology that overcomes challenges previously limiting the adoption of hybridization in wheat. While hybrid technology has been transformative in crops like corn, wheat production systems have faced barriers to its consistent and cost-effective use.

Potential Benefits of Hybrid Wheat

Corteva’s hybrid wheat technology offers several advantages:

• Higher Yields: Trials indicate a 10% increase in yield potential, helping farmers optimize productivity on existing farmland.
• Drought Resistance: In water-stressed environments, the hybrid wheat yielded 20% more than elite varieties, offering resilience amid changing climate conditions.
• Faster Germplasm Development: The technology enables the scale-up of parent seed production, accelerating the release of elite varieties.

Sam Eathington, Corteva’s Chief Technology and Digital Officer, stated: “Pioneer introduced hybrid corn in the 1920s, driving a 600% increase in average yields. With this new technology for wheat, we’re poised to bring similar benefits to another core crop.”

How It Works

Hybrid seeds are created by crossing two genetically distinct parent plants, resulting in plants with improved resilience and productivity. Unlike other wheat hybridization systems, Corteva’s proprietary technology has demonstrated applicability across 100% of wheat germplasm, facilitating rapid genetic advancements and large-scale commercial seed production.

Significance of Wheat in Global Agriculture

Wheat is cultivated on approximately 550 million acres worldwide, providing 20% of the global caloric intake and feeding hundreds of millions of people. In North America, wheat is the third largest row crop, covering more than 60 million acres. Corteva’s technology has the potential to significantly enhance food security and sustainability for this critical crop.

Launch Plans

Corteva aims to launch its hybrid Hard Red Winter wheat in North America by 2027. The company plans to expand its portfolio over time, continuing to integrate this innovation into global wheat production systems.

Corteva Agriscience Latest News

Reports Q3 2024 Results, Updates FY & Preliminary 2025 Outlook (2024/11/07)

Corteva, Inc. reported a 10% decrease in net sales for Q3 2024, totaling $2.33 billion, and a loss from continuing operations of $519 million. Organic sales also saw a 5% decline compared to Q3 2023. CEO Chuck Magro praised the company’s focus on cost control, which is on track to yield over $400 million in savings by year-end. Corteva’s Crop Protection business achieved earnings and margin growth driven by demand for differentiated products and deflationary tailwinds in raw material costs. For the first nine months of 2024, Corteva’s net sales reached $12.93 billion, a 4% decrease year-over-year. The company’s updated 2024 guidance anticipates net sales between $17.0 and $17.2 billion, with operating EBITDA and EPS projected at $3.35 to $3.45 billion.

Corteva Appoints Judd O’Connor as EVP of Seed Business Unit (2024/10/16)

Corteva has appointed Judd O’Connor as the new Executive Vice President of its Seed Business Unit, effective December 1, 2024. O’Connor, with 25 years of experience, will succeed Tim Glenn, who will transition to the role of Strategic Advisor before retiring in the first quarter of 2025. O’Connor has previously served as President of Corteva’s North America business and Regional President for DuPont in Latin America. CEO Chuck Magro expressed confidence in O’Connor’s ability to lead the Seed Business Unit, while Tim Glenn will continue as Strategic Advisor until his retirement.

Reports Solid Q2 2024 Financial Results (2024/08/01)

Corteva, Inc. reported a 1% increase in net sales in Q2 2024, with organic sales rising by 2%. The company’s Seed business saw a 2% increase in net sales to $4.33 billion, driven by a 5% price increase. However, Crop Protection sales remained flat at $1.8 billion. In Q1 2024, net sales were $10.60 billion, with organic sales decreasing by 2%. Corteva adjusted its full-year 2024 guidance to reflect current market conditions, expecting net sales between $17.2 billion and $17.5 billion.

Reports Q1 2024 Financial Results (2024/05/02)

Corteva, Inc. announced its financial results for the first quarter of 2024. The company reported a decrease in net sales to $4.49 billion, with a significant drop in income and earnings per share compared to the same period last year. The Seed business saw an increase in net sales and operating EBITDA, while the Crop Protection segment faced challenges due to declining sales and operating EBITDA. CEO Chuck Magro expressed confidence in the company’s differentiated portfolio and anticipated growth in the second half of the year. Corteva reaffirmed its full-year 2024 guidance, including projected net sales and operating EBITDA, and plans to repurchase approximately $1.0 billion of its shares in 2024.

Read more here.

Launches Innovative Investment Platform (2024/03/20)

Corteva, Inc. has launched Corteva Catalyst, an investment and partnership platform to introduce agricultural innovations and accelerate early-stage transformative technologies. The initiative is aimed at advancing research and development priorities and empowering farmers worldwide with sustainable methods to increase food and feed production. Corteva Catalyst will pair Corteva’s expertise and resources with start-ups and universities to deliver new solutions for farmers globally.

Launches Corteva Biologicals (2024/02/29)

Corteva Agriscience has introduced Corteva Biologicals, a move that positions the company as a leader in the biological market. Frederic Beudot, General Manager of Biologicals at Corteva, highlighted the company’s commitment to offering innovative options that enhance performance, resilience, and potential. Key products include Utrisha™ N, X-Cyte™, and Bio Forge® Advanced, designed to optimize plant health and yield while supporting sustainable and efficient farming.

Reports Financial Outcomes for Q4 & FY 2023 (2024/02/01)

Corteva’s adaptive strategies in a fluctuating agricultural market have resulted in growth in the Seed segment and strategic navigation in the Crop Protection segment. The Q4 2023 results showed a 3% decrease in net sales but a 4% increase in operating EBITDA, indicating effective cost control and strategic pricing efforts. Looking ahead to 2024, Corteva has provided an optimistic outlook, with a focus on delivering differentiated products, enhancing technology offerings, and driving value for shareholders. The company’s participation in sustainability initiatives, alongside its technological advancements in seeds and crop protection, positions Corteva as a leading figure in the movement towards more sustainable and efficient agricultural practices globally.

Read the complete report here.

Partners With John Deere To Simplify Digital Farming Solutions (2024/01/31)

John Deere and Corteva Agriscience have partnered to integrate agronomic recommendations into the John Deere Operations Center, aiming to enhance farm productivity and sustainability. The collaboration brings together John Deere’s advanced farm equipment technology with Corteva’s agronomic expertise to provide farmers, Pioneer sales representatives, and equipment with precise, customized agronomic insights. This initiative simplifies data-driven farming and sets a new standard for the industry by leveraging cutting-edge science and advanced technology.

Herbicides Cleared for Broader Use (2023/12/04)

Corteva Agriscience has received expanded approval for its Enlist® herbicides after a review under the Endangered Species Act. The U.S. EPA and FWS issued a favorable Final Biological Opinion, providing farmers in previously restricted areas in Texas and Georgia with effective weed control tools. Enlist system’s near-zero volatility and reduced physical drift make it a preferred choice for sustainable weed control. Farmers and applicators must follow current product labels and consult the Endangered Species Protection Bulletins for specific regional guidelines.

Corteva Files Lawsuit Against Inari To Safeguard IP (2023/09/29)

Corteva has filed a lawsuit against Inari Agriculture, Inc. and Inari Agriculture NV for allegedly obtaining its protected seeds through a third-party agent, making minor genetic modifications to the biotech traits of these seeds, and seeking U.S. patents for the modified traits. The lawsuit is significant as it highlights the importance of protecting intellectual property in the agricultural industry, where innovations take decades and substantial investments to develop.

Corteva’s Reklemel: Fighting Against Nematodes (2023/09/14)

Corteva Inc. has developed a new nematicide called Reklemel active in protecting food and row crops from nematodes. The US Environmental Protection Agency (EPA) has given Reklemel a Reduced Risk tag for its effectiveness and reduced usage rates. It has also won the National Association of Manufacturers’ Sustainability and the Circular Economy Award. Reklemel will be launched in the US, India, and Mexico by the end of 2023, and Corteva is seeking regulatory approval in other markets. Reklemel offers farmers flexibility in application and can augment yield potential while mitigating nematode-induced damage and preserving soil organisms.

Reports Mixed Performance In Its Financial Results (2023/08/04)

Corteva Agriscience (NYSE: CTVA) has released its Q2 and H1 2023 financial results, which showcase a mix of growth and challenges across its different segments. The company saw a 1% increase in net sales during H1 2023, with organic sales rising by 2%. The Seed segment was the main driver behind this growth, with seed net sales increasing by 8% and organic sales rising by 9%. The Crop Protection segment, however, saw a decline in both net sales and organic sales, down by 9%. Corteva’s management has revised its full-year 2023 guidance for net sales, Operating EBITDA, and Operating EPS. The CEO highlighted the company’s growth and innovative position, with new product announcements and exclusive agreements.

Corteva Agriscience and Bioceres Crop Solutions Join Forces (2023/07/19)

Corteva Agriscience and Bioceres Crop Solutions have partnered to introduce natural-based agricultural products in Europe. The collaboration aims to meet the growing demand for sustainable farming practices by addressing societal and political demands for environmentally friendly products. The companies will introduce a cutting-edge bioinsecticide developed by Bioceres’s subsidiary, Pro Farm, to the European market, once they have secured the necessary registrations. Corteva Agriscience will exclusively distribute the product in Europe through its Seed Applied Technologies team and apply the technology to its Pioneer® brand seed products. This partnership benefits farmers and contributes to the long-term viability and resilience of agricultural ecosystems.

Enhancing Corn Disease Resistance With Corteva’s Breakthrough (2023/06/13)

Corteva Inc. has published groundbreaking research confirming the natural movement of disease-resistance genes within the genome of corn plants. This can help in utilizing new breeding techniques to combat plant diseases, improve crop resilience, and enhance yield potential. The research demonstrates that gene editing tools like CRISPR can imitate this natural process, allowing for the relocation of multiple disease-resistance genes. This breakthrough can potentially accelerate plant breeding progress and deliver high-performing agricultural products to farmers.

Corteva Agriscience Unveils Bexoveld™ (2023/05/10)

Corteva Agriscience has named its latest herbicide Bexoveld. The herbicide, developed to combat broadleaf weeds in cereal crops, will be launched in North America in 2028 and in Europe by 2030, pending regulatory approval. The product is a third-generation 6-Arylpicolinate (6-AP) herbicide, with a low-dose use rate and minimal crop restrictions in the following season. Corteva plans to offer Bexoveld in pre-mixed formulations alongside other leading Corteva herbicides.

Corteva Q1 2023 Reports Show 6% Increase in Net Sales (2023/05/04)

Corteva Inc. reported a 6% increase in net sales in Q1 2023, with organic sales up by 10%. Seed sales grew by 7%, while crop protection sales increased by 5%. The company’s GAAP income and earnings per share (EPS) from continuing operations were $607 million and $0.84 per share, respectively. Corteva has increased its full-year 2023 guidance, with net sales expected to be $18.6 billion to $18.9 billion, and operating EPS projected to be $2.80 to $3.00 per share.

Corteva Launches Novel Fungicide Adavelt Active (2023/05/29)

Corteva Inc. has launched Adavelt Active, a novel fungicide that protects against crop diseases and will be available for use in lentil crops starting in 2023. The product is built on the discovery of Inatreq active, a natural-origin fungicide. With Adavelt active, farmers can simplify fungal control efforts, reduce resistance risks, and protect crops’ yield potential and quality.

Corteva to Launch Vorceed Enlist Corn Products (2023/04/08)

Corteva Agriscience, a leading agriculture company, has announced its plan to commercially launch Vorceed Enlist corn products to help farmers better manage their corn rootworm acres while providing the added benefit of controlling late-season emerged broadleaf weed pressures. Vorceed Enlist corn technology will be available to U.S. farmers through the exclusive Corteva Horizon Network in areas of high corn rootworm pressure in the Corn Belt. This new technology will give farmers more flexibility in managing their crops and enable them to achieve better yields with less stress.

Corteva Inc. Reports Strong 2022 Financial Results (2023/02/03)

Corteva Inc. (NYSE: CTVA) recently reported strong financial results for the 4th quarter and full year of 2022. Despite facing cost inflation and supply chain issues, Corteva delivered double-digit growth in its operating EBITDA and over 200 basis points of EBITDA margin expansion. The company attributes this success to its innovative portfolio, strong market positions, and disciplined execution. Corteva is focused on becoming the leading global integrated agriculture technology solutions company and has plans to invest in its technology pipeline to achieve this goal. The company expects net sales to range from $18.1 billion to $18.4 billion and operating EBITDA to range from $3.4 billion to $3.6 billion for 2023. Corteva’s future looks bright as the outlook for agriculture fundamentals remains robust. The company is well-positioned to take advantage of market opportunities.

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