IMC reports 22% corn yield increase in 2018

Ukrainian farmer IMC (IMC PW) reported on Dec. 4 it
has completed its harvesting campaign of corn, with an average net yield of 11.1
t/ha in 2018, or 22.0% yoy growth. The company harvested 762,000 tons of corn
(a 25% yoy increase) from an area of 68,400 ha (2.1% more yoy). Corn is IMC’s
core crop, accounting for 58% of the company’s total harvesting area in the
2018 season.

Andriy Perederey: The company’s corn yield has always been historically stronger than
the average for Ukraine. Favorable weather conditions pushed IMC’s corn yield
to a record in 2018. The company’s corn yield was 44% higher than Ukraine’s
average in 2018 (it was 67% higher in 2017). That result will allow the company
to further improve its bottom line in 2018 and early 2019. So we remain bullish
about IMC stock.