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DowDuPont Forecast Disappoints as Trade War Hits Seed Profit

  • More soybeans and less corn in Brazil ‘hurts,’ CEO says
  • Second-quarter profit and sales improved across all businesses
Monsanto, DuPont Race To Win $2.7 Billion Drought-Corn Market

Photographer: Larry W. Smith/Bloomberg

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DowDuPont Inc.’s disappointing profit forecast for 2018 rattled investors as the company flagged global impacts in crop-related sales from President Donald Trump’s trade war.

Farmers in Brazil are planting more soybeans and less corn after China levied tariffs on U.S. soybeans in response to Trump’s duties on Chinese goods. The shift away from corn “hurts a little bit,” DowDuPont Chief Executive Officer Ed Breen said Thursday on a call to discuss second-quarter results. A weaker Brazilian real versus the dollar also will erode earnings, he said.