CTVA · 8-K · 20261112PR000031

Brazil Market and Channel Conditions

Corteva, Inc. · 2026-11-12 · Importance 46 · Surprise 56

Corteva described Brazil as materially weaker than anticipated and cited a significantly softer Crop Protection market there. In Latin America, third-quarter organic sales declined 31% and volume fell 24%, as elevated channel inventory and delayed purchasing weighed on demand. The company attributed delayed purchases to farmer liquidity constraints and high interest rates, alongside competitive pressure on mature molecules.

Key facts

• Corteva's Latin America organic sales declined 31% in third-quarter 2026, reflecting challenging market dynamics in Brazil. source
• Corteva updated its full-year 2026 guidance to reflect weaker market conditions than previously anticipated in Brazil. source
• Corteva's Latin America third-quarter 2026 volumes decreased 24% due to elevated channel inventory and delayed purchasing given farmer liquidity constraints and high interest rates. source
• Corteva said Crop Protection market conditions had become more challenging, particularly in Brazil, where farmer liquidity constraints, elevated financing costs, just-in-time purchasing and increased pricing pressure resulted in a significantly softer market than previously anticipated. source
• Corteva said U.S. acetochlor pricing was consistent with expectations, but Brazil was materially weaker than anticipated. source
• Corteva's third-quarter 2026 volume declined 2% year over year, as growth across most regions was more than offset by challenging market dynamics in Brazil. source