Report
Seth Goldstein
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Higher Prices and Catch-Up Volumes Highlight Our 2Q Earnings Takeaways for the Agriculture Space

After unfavorable weather weighed on first-quarter results for many of the ag companies we cover, volumes rebounded for nearly all companies in the second quarter. Through the first half of 2018, demand for nearly all crop input categories is roughly even with the first half of 2017. In crop chemicals, the shortened planting season resulted in greater demand for in-season herbicides and insecticides. We now expect crop chemicals volumes to be nearly flat in 2018 compared with 2017.
In fertilizer...
Underlying
DuPont de Nemours Inc.

DowDuPont is a holding company comprised of The Dow Chemical Company and E. I. du Pont de Nemours and Company with a focus on forming independent, publicly traded companies in the agriculture and specialty products sectors. The company's worldwide operations are managed through global businesses and include the following reportable segments: Agriculture; Electronics and Imaging; Nutrition and Biosciences; Transportation and Advanced Polymers; and Safety and Construction.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Seth Goldstein

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