Upstream Ag Professional - November 19th 2023

Essentials news and analysis for agribusiness leaders

Welcome to the 18th Edition of Upstream Ag Professional!

Index for the week:

1. Q3 2023 Agribusiness Results Highlights and Analysis

2. FMC 2023 Investor Day Highlights and Analysis

3. AgTech Write-Downs and Privatizations

   1. Valmont Writes Down Prospera by almost 50%

   2. Fairfax Offers to Take Agritech Firm Farmers Edge Private at 99% Below IPO Price

4. BASF introduces xarvio SeedSelect as part of xarvio FIELD MANAGER

5. Bayer demonstrates digital technologies as a critical enabler for regenerative agriculture

6. The Shortcomings of Poor Questions in Surveys: The 2023 CropLife 100 Preview

7. AGCO Continues Technology Transformation to Become an Industry Leader in Smart Farming Solutions

8. Syngenta Hits 230 Million Acres on Digital Platform

9. Autonomous Ag at a Tipping Point

10. The Direction Of The Moat

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1. Q3 2023 Results Highlights and Analysis - Upstream Ag Professional

For highlights from the following companies Q3 results, check out the link above:

1. BASF

2. Bayer Crop Science

3. Corteva

4. FMC

5. Nufarm

6. Syngenta

7. Nutrien

8. Lavoro

9. Yara

10. Mosaic

11. ICL

12. American Vanguard

13. AGCO

14. CNH Industrial

15. Lindsay Irrigation

16. Valmont Industries

17. Farmers Edge

Key Themes from Q3 2023 Agribusiness Results

1. Continued Destocking in Crop Protection

2. Corporate Dynamics

   1. Syngenta IPO on Hold

   2. Bayer Corporate Restructure

   3. FMC Battling Short Seller

3. Fertilizer Earnings Tighten from 2022 Highs, Expected Growth in 2024

1. Continued Destocking

One central theme was the continued destocking challenges for crop protection companies.

FMC had its investor day this week, where they shared some data illustrating just how large of a correction this was, with the data showing upwards of a 20% drop in crop protection sales globally: