CHS Obtains Exclusive Rights to Corteva Confectionary Sunflower Breeding Program
ST. PAUL, Minn., Dec. 11, 2019 /PRNewswire/ -- CHS Inc. (NASDAQ: CHSCP), an industry leader in hybrid sunflower seed development, today announced that it has obtained exclusive breeding and distribution rights to the Corteva Agriscience confectionary sunflower and conoil sunflower programs in North America.
This will expand the number of sunflower hybrids available to CHS contract growers and farmer-owners and provide more high-value market opportunities.
"By expanding our sunflower breeding program, we are working to ensure our owners have the highest quality seeds to grow their businesses and meet the ever-changing tastes of sunflower seed consumers," said Joel Schaefer, CHS Sunflower research director.
Corteva sunflower variety nomenclature will remain constant, but will be rebranded under the CHS Royal Hybrid® brand. "CHS intends to maintain and grow relationships with processors, retailers and growers who have relied on Corteva's confectionary sunflower breeding program for years," said Schaefer.
"This agreement allows North America sunflower customers to continue to have a reliable supply of high-quality confection and conoil hybrids to meet consumer needs for snacking sunflower seeds and confection sunflower oils," said Larry Robertson, Corteva Agriscience global sunflower portfolio leader. "It also aligns with our strategy to focus and prioritize our breeding investment in broad-acre sunflower products globally."
For the 2020 growing season, Corteva Agriscience conoil hybrid sunflower seeds will be marketed directly through CHS Sunflower and select CHS retail locations. Beginning in 2021, CHS will add the full portfolio of Corteva Agriscience confectionary sunflower seed to the Royal Hybrid line up.
For more than half a century, CHS has researched, developed, tested and distributed hybrid sunflower seeds. CHS is the only major sunflower processor that maintains its own hybrid seed division.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, agronomy, grains and foods, CHS is committed to creating connections to empower agriculture, helping its farmer-owners, customers and other stakeholders grow their businesses through its domestic and global operations. CHS supplies energy, crop nutrients, seed, crop protection products, grain marketing services, production and agricultural services, animal nutrition products, foods and food ingredients, and risk management services. The company operates petroleum refineries and pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
This document and accompanying oral presentation contain and other CHS Inc. internally and publicly available documents contain, and CHS officers and representatives may from time to time make, "forward–looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Report Act of 1995. Forward–looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward–looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on CHS current beliefs, expectations and assumptions regarding the future of its businesses, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of CHS control. CHS actual results and financial condition may differ materially from those indicated in the forward–looking statements. Therefore, you should not place undue reliance on any of these forward–looking statements. Important factors that could cause CHS actual results and financial condition to differ materially from those indicated in the forward–looking statements are discussed or identified in CHS filings made with the U.S. Securities and Exchange Commission, including in the "Risk Factors" discussion in Item 1A of CHS Annual Report on Form 10–K for the fiscal year ended August 31, 2019. Any forward–looking statements made by CHS in this document are based only on information currently available to CHS and speak only as of the date on which the statement is made. CHS undertakes no obligation to update any forward–looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise except as required by applicable law.
SOURCE CHS Inc.