A softening of seed corn sales was behind an 11 percent drop in DuPont’s agriculture sector operating profits in the quarter ending in June, says AgriMoney. It quoted DuPont’s chief executive as saying the company has faith in the business over the longer term although big big crop crops this year would “pressure overall economics for corn and soybean farmers.” DuPont expects lower seed corn sales for Brazil’s summer season, with soybeans becoming more popular as global corn supplies rose.
Private consultancy INTL FCStone calculates the cost of growing soybeans in Brazil has risen by 5 percent a year since 2009/10, says AgroSouth News. “The main aspect considered for the inflation was the cost of seeds, agrochemicals, and fertilizers.”