Bayer sees no guidance hit from hurricane, planting trends By Reuters
[ad_1]
BERLIN, (Reuters) – Bayer (OTC 🙂 does not expect any changes in its guidance for the full year from customers who have changed their planting habits. The German life sciences group also stated Tuesday that Louisiana’s main glyphosate manufacturing site was closed for five weeks due to Hurricane Ida.
“We have lost five weeks worth of production. “This will of course have an impact sales but not to the extent that could impact our full year guidance,” Liam Condon from Bayer’s agricultural division told investors in an online meeting.
Condon was asked if higher crop protection prices might cause some customers to switch to soybeans over corn. He said that he will view any fluctuations as seasonal fluctuations and not anything that can affect the unit’s outlook.
The majority of farmers rotate between soybeans and corn. He said that farmers usually take into consideration what they have in the previous season, and then aim to rotate the crop to maintain soil fertility.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from relying on data including charts, buy/sell signals, and quotes. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.
[ad_2]