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Stock impact report

Cash-strapped US farmers switch to generic crop chemicals, in blow to big manufacturers [Yahoo! Finance]

Corteva, Inc. (CTVA) 
Last corteva, inc. earnings: 1/30 06:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
switching to cheaper generic pesticides and fungicides as they plan for spring planting next year, which market analysts said could hit the bottom lines of agrichemical companies like Bayer. Signs of these financial impacts are already emerging. Bayer shares fell sharply to a 20-year low on Tuesday, after the chemical company warned that weak global agricultural markets and a slumping U.S. farm economy are likely to pressure profits further. Agrichemical competitors Syngenta, Corteva and the agriculture unit of Germany's BASF could also face challenges in the sector, analysts said. Nearly one-third of all the pesticides and fungicides that Paul Butler uses on his Illinois soybean and corn farm are generic to help him cut costs in a tight year, he said. Fellow Illinois grain grower Jeff O'Connor is doing the same. "It's like if you grew up eating Fruity Pebbles and now you go to Dollar General and get Fruity Bites," he said. Despite the cost savings, farmers say there can be Show less Read more
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