DOW JONES NEWSWIRES
DuPont Co.'s (DD) seed business expects "continued strong growth" in 2010 and anticipates higher market share in soybeans and corn, based on on-farm yield comparisons that suggest a strong crop.
The chemical giant has continued to see its seed business as a high-growth area, allowing DuPont some diversification.
The company said it expects to extend its soybean market-share leadership and increase its market share of global seed corn by 1 to 2 points in 2010.
In North America, the yield comparisons show that Pioneer Hi-Bred soybeans have a 1.3 bushel-per-acre yield advantage on average against "all competitive varieties." Pioneer soybeans with the Roundup Ready gene have a 2.7 bushel-per-acre yield advantage against competitors.
"We are delivering both yield and income advantages over hybrids from competitors," said Pioneer President Paul E. Schickler.
The company also said it expects to expand its market share overseas, including some seven percentage points in Argentina.
Shares of DuPont were up 1.9% to $35.18 in recent trading amid a broad market decline. Seed rival Monsanto Co. (MON) was off 0.6% at $79.58.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com