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Calyxt Strikes Seed Deal with Landus Cooperative

4:57PM ET 9/19/2019 MT Newswires
Calyxt (CLXT), a food ingredients company, said on Thursday it has struck a deal to add Landus Cooperative's seed distribution, agronomy support, grain storage, and transportation services for its oleic soybeans.

The agreement boosts the company's supply-chain network into Iowa's 10 million acre soybean market, about 11% of total US soybean production and letting cooperative farmer-owners plant its oleic soybeans in the 2020 season.

"We are underscoring confidence in our ability to achieve 100,000 contracted acres in 2020," said CEO Jim Blome. "What's more, we can leverage their footprint and reach to expedite the launch of our new varieties."

Price: 6.98, Change: -0.18, Percent Change: -2.51