(Reuters) -Agricultural chemical and seed company Corteva beat Wall Street estimates for second-quarter profit on Thursday, benefiting from strong demand and higher prices for seeds.
Crop prices remain strong historically due to supply concerns related to the war in Ukraine and droughts in several places across the world.
Farmers have looked to harvest more to cash-in on elevated crop prices.
Net sales from the company’s seed business rose 8% compared to last year, aided by strong prices.
Its operating core profit came in at $1.60 per share in the quarter ended June 30 compared with analysts’ average estimate of $1.58 per share.
(Reporting by Sourasis Bose in Bengaluru)
