CTVA · 10-Q · 2026Q4 · Full report

Geographic Market Commentary

Corteva, Inc. · 2026-11-12 · Importance 42 · Surprise 40

Latin America was the most pronounced area of weakness: third-quarter net sales fell 19%, driven by a 19% volume decline, while nine-month sales fell 7%, including a 9% volume decline and 4% price decline. Brazil’s weak Crop Protection market conditions weighed on quarterly volumes, and competitive pricing in Latin America pressured Crop Protection prices. Dry weather reduced Seed volumes in EMEA and Asia Pacific, while North American Seed volumes were affected by timing shifts in the quarter. Favorable currency impacts came from the Brazilian Real and South African Rand in the quarter and from the Euro and Brazilian Real over nine months, partly offset by the Indian Rupee and Turkish Lira, respectively.

Key facts

• Corteva’s third-quarter Seed volume declined across all regions due to North American timing shifts, dry weather in EMEA and Asia Pacific, and the shift to soybean out-licensing in Latin America. source
• Corteva’s nine-month volumes were generally flat, with increases in Crop Protection new products and North American soybean acreage partly offset by lower Crop Protection volumes in Latin America, dry-weather impacts on Seed in EMEA and Asia Pacific, and soybean out-licensing shifts in Latin America. source
• Corteva’s third-quarter Seed volume decline was driven by timing shifts in North America, dry weather in EMEA and Asia Pacific, and the shift to soybean out-licensing in Latin America; price and mix rose across regions, with increased out-licensing income particularly in North America. source
• Corteva’s nine-month Seed price increases were across all regions, including increased out-licensing income particularly in North America; lower volume reflected dry weather in EMEA and Asia Pacific and soybean out-licensing in Latin America, partly offset by higher North American soybean acreage. source
• Corteva’s favorable third-quarter currency impacts were driven by the Brazilian Real and South African Rand, partly offset by the Indian Rupee. source
• Corteva’s favorable nine-month currency impacts were driven by the Euro and Brazilian Real, partly offset by the Indian Rupee and Turkish Lira. source