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MarketScreener Homepage  >  Equities  >  Nyse  >  Corteva, Inc.    CTVA

CORTEVA, INC.

(CTVA)
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Corteva : Pioneer® Brand Corn and Soybean Product Performance Drives Long-term Business Ad

11/18/2020 | 10:13am EST
Home / Media Center / Pioneer® Brand Corn and Soybean Product Performance Drives Long-term Business Ad
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Press Release • 11/18/2020 Pioneer® Brand Corn and Soybean Product Performance Drives Long-term Business Advantages for Farmers

Research and Development Innovation Drives Consistent Year-over-year Performance for Corteva Agriscience Flagship Seed Brand

JOHNSTON, Iowa, Nov. 18, 2020 - With 2020 harvest results rolling in, Pioneer® brand corn and soybean products are winning the majority of competitive on-farm trials. The consistent yield advantages can be measured in bushels per acre and by potential farm income advantage.

'Pioneer is pushing past boundaries to achieve consistently higher yields year over year in corn and soybeans compared to other seed brands, leveraging our research, product development and rigorous testing,' said Judd O'Connor, President, U.S. Commercial Business, Corteva Agriscience. 'Even in some of farming's toughest years, Pioneer best-in-class genetics and traits continue to drive yield gains.'

Pioneer provides value-added, boots-on-the-ground customer service, which is strengthened by the combination of industry-leading genetics, seed treatments, crop protection solutions, digital tools and new product traits.

Pioneer® Brand Qrome® Products, Optimum® AQUAmax® Hybrids Lead Corn Revolution

The top 40 most popular Pioneer brand corn products by sales volume delivered an average 4.2 bu/A yield advantage1 over the competition in more than 17,000 on-farm comparisons. Two outstanding technologies, Pioneer® brand Qrome® products and Pioneer® brand Optimum® AQUAmax® hybrids, significantly contributed to the Pioneer advantage this year.

In its first year available at large volumes across the U.S., Qrome products are dominating with a 7.7 bu/A yield advantage over competitive SmartStax® technology, which equates to a $31.142 advantage per acre.

Qrome products across all maturities have demonstrated superior yield advantages against competitors this year, including:

- Pioneer® P1828Q™ brand corn with a 10.8 bu/A yield advantage

- Pioneer® P0421Q™ brand corn with a 10.6 bu/A yield advantage

- Pioneer® P0507Q™ brand corn with a 10.4 bu/A yield advantage

- Pioneer® P0075Q™ brand corn with a 9.9 bu/A yield advantage

- Pioneer® P1185Q™ brand corn with an 8.7 bu/A yield advantage

- Pioneer® P0622Q™ brand corn with an 8.4 bu/A yield advantage

- Pioneer® P1366Q™ brand corn with a 7.5 bu/A yield advantage

'The Corn Revolution is continuing to build and we are already seeing the benefits of our commitment,' said Geoff Graham, Vice President of Plant Breeding, Corteva Agriscience. 'We're focused on the local adaptation of our hybrids through the right mix of science and technology, and local breeding footprint. We can bring global science down to the local level, which has led to improved product performance for farmers. With the tools available to us today, we can screen almost 20 times more candidates in our pipeline than we did even a decade ago.'

With key native traits that improve root systems and silk emergence, Pioneer® brand Optimum® AQUAmax® hybrids excel at managing drought stress. These hybrids are bred to perform in limited and optimal water environments.

Highly resilient in challenging conditions, Optimum AQUAmax hybrids shined in 2020, and out-performed the competition in a variety of local environments. In yield levels below the 150 bu/A threshold, Optimum AQUAmax hybrids had a 6.3 bu/A advantage. Between 150 and 200 bu/A, these hybrids offered growers a 4.6 bu/A advantage, and above 200 bu/A, they provided a 4.5 bu/A advantage.

Part of the success of the Corn Revolution can be attributed to advancements in seed treatments. Lumialza™ nematicide seed treatment, a biological nematicide, provides more than 80 days of root protection in upper, middle and lower root zones against plant parasitic nematodes. By expanding the bio-barrier, it not only shields roots but also cooperates with beneficial organisms in the soil, contributing to a 3.7 bu/A yield advantage3 under low nematode pressure.

Proven Yield Performance Driven by the Power of Pioneer in Every Soybean

The power of the Pioneer® brand soybean portfolio continues to grow and consistently perform year-over-year thanks to a continued investment in research and development. In nearly 2,300 on-farm comparisons, the top 40 Pioneer brand soybean products by demand are winning the yield battle 66% of the time, with a 2.2 bu/A yield advantage4, resulting in a more than $22 income per acre advantage5. The 100 bu/A mark was topped more than 105 times in 2020 with 38 varieties across 12 states.

Pioneer® brand A-Series soybeans continue to provide industry-leading yield performance for farmers throughout the U.S. In more than 4,200 on-farm comparisons, Pioneer brand A-Series soybeans with Roundup Ready 2 Xtend® technology or the LibertyLink® gene hold a 2.3 bu/A yield advantage6 against all competitors, winning 67% of the time.

Leading the way are varieties in a wide range of maturities:

- Pioneer® P21A81L™ brand soybeans with a 6.9 bu/A yield advantage

- Pioneer® P31A95BX™ brand soybeans with a 4.9 bu/A yield advantage

- Pioneer® P28A42X™ brand soybeans with a 4.6 bu/A yield advantage

- Pioneer® P47A64X™ brand soybeans with a 4.5 bu/A yield advantage

- Pioneer® P25A54X™ brand soybeans with a 3.0 bu/A yield advantage

Pioneer maintained its consistent yield advantage from last year while adding new Pioneer® brand Enlist E3® soybeans. Enlist E3 soybeans have shown strong yield performance versus competitive varieties with the Enlist E3 soybean trait, including:

- Pioneer® P26T23E™ brand soybeans with a 3.4 bu/A yield advantage

- Pioneer® P32T26E™ brand soybeans with a 2.6 bu/A yield advantage

- Pioneer® P30T99E™ brand soybeans with a 2.6 bu/A yield advantage

- Pioneer® P28T14E™ brand soybeans with a 2.2 bu/A yield advantage

'The success we are seeing with Enlist E3 soybeans is the result of rigorous testing for performance and stability using the nation's largest localized research and on-farm testing program,' said Jeff Thompson, Global Soybean Research Lead, Corteva Agriscience. 'We have an elite team of product agronomists and crop protection specialists to support the Enlist™ Weed Control System and can answer any questions from our customers.'

Farmers continue to get the most out of their soybean seed investment with protection from Lumisena® fungicide seed treatment. Offering best-in-class protection against Phytophthora, the most common soybean disease, Lumisena fungicide seed treatment provides a 4.0 bu/A yield advantage7 over traditional metalaxyl-based treatments in areas considered high pressure locations.

'The performance of Pioneer brand soybeans demonstrates that we have the elite varieties that farmers need for their operations to be more profitable,' Thompson said. 'Whatever herbicide trait technology you choose, our products consistently outperform the competition. We are committed to developing elite genetics, demonstrating product performance through our unmatched testing, and delivering customer success.'

About Pioneer

Pioneer, the flagship seed brand of Corteva Agriscience, is the world's leading developer and supplier of advanced plant genetics, providing high-quality seeds to farmers in more than 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems for people everywhere. Join the discussion and follow Pioneer on Facebook,Twitter,Instagram and YouTube.

About Corteva Agriscience Corteva Agriscience is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry - including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.

Follow Corteva Agriscience on Facebook, Instagram, LinkedIn, Twitter and YouTube.

# # #

11/18/20

TM ® SM Trademarks and service marks of Corteva Agriscience and its affiliated companies.

Contact

Kacey Birchmier

515-305-0085

kacey.birchmier@corteva.com

Disclaimer

Corteva Inc. published this content on 18 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2020 15:12:06 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 13 978 M - -
Net income 2020 585 M - -
Net cash 2020 1 733 M - -
P/E ratio 2020 50,2x
Yield 2020 1,20%
Capitalization 32 594 M 32 594 M -
EV / Sales 2020 2,21x
EV / Sales 2021 2,10x
Nbr of Employees 21 000
Free-Float 99,9%
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Corteva, Inc. Technical Analysis Chart | CTVA | US22052L1044 | MarketScreener
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 40,67 $
Last Close Price 43,75 $
Spread / Highest target 14,3%
Spread / Average Target -7,05%
Spread / Lowest Target -45,1%
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NameTitle
James C. Collins Chief Executive Officer & Director
Gregory R. Page Non-Executive Chairman
Gregory R. Friedman Chief Financial Officer & Executive Vice President
Debra King Chief Information Officer & Senior Vice President
Sam Eathington Chief Technology Officer & Senior Vice President
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