Corteva is one of the world's largest agricultural inputs companies, selling seeds and crop protection products to farmers in roughly 110 countries. The Seed business — roughly 55% of revenue — develops and sells corn, soybean, sunflower, canola, and cotton seed under the flagship Pioneer brand and regional brands like Brevant. Corteva combines proprietary germplasm with biotechnology traits that make plants resistant to insects, herbicides, or disease, and sells primarily through a direct-to-farmer model via independent sales reps. The Crop Protection business (~45% of revenue) sells herbicides, insecticides, fungicides, and biologicals globally, with key franchises including the Enlist weed control system, Spinosyns insecticides, and a growing biologicals portfolio. Seed economics are driven by planted acres, market share, pricing, and a shifting royalty dynamic — Corteva is transitioning from a net royalty payer to a net royalty earner as its own trait portfolio scales. Crop protection margins are driven by product mix, with differentiated and proprietary products commanding meaningfully higher margins than commoditized generics. Corteva's earnings are highly seasonal, with the majority of revenue and EBITDA generated in the first half of the year. Key growth initiatives include seed out-licensing, a hybrid wheat program targeting commercial launch in 2027, and a biologicals business targeting ~$1B in revenue by end of decade. Corteva announced in October 2025 its intent to separate Seed and Crop Protection into two independent public companies, targeting a Q4 2026 spin-off.