DuPont defended its credentials in the seed market, claiming both its corn and soybean seeds had raised market share, the day after rival Monsanto attacked doubts over its own flagship corn brand.

DuPont said that its Pioneer Hi-Bred seed business had claimed more than one-third of the North American corn seed market this year, increasing its share by three points to 35%.

In soybeans, the group's share was 31%, a rise of five points year on year.

"As harvest winds down, Pioneer customers continue to report consistent, solid product performance," said Paul Shickler, the Pioneer president, adding that the unit had the opportunity for additional gains from competitors next year.

"Our multi-year strategy – focused on strengthening research, points of sale and agronomic support – is paying off."

'Yield advantage' 

The comments followed Monsanto's statement that its cutting edge genetically modified Genuity SmartStax corn, over which there had been yield doubts, was after all outperforming lower-range seed.

"The Genuity SmartStax corn hybrid portfolio… is exhibiting an average yield advantage of approximately four bushels per acre across Iowa, Illinois, Indiana, Michigan and Minnesota in nearly 4,000 comparisons when compared with the YieldGard VT Triple hybrid portfolio," the group said.

Meanwhile, European-based rival Syngenta claimed two weeks ago that its genetically modified corn seed had outperformed throughout the US, but in particular the Midwest, where yields were some 10 bushels an acre higher than those from two unnamed rivals.

Indeed, DuPont revealed the cost of raising its share in such a competitive market, with the group's agriculture and nutrition division, which includes Pioneer, seeing losses widen by 68% to $181m in the July-to-September quarter.

The result reflected "growth investments", including aggressive spending on agricultural research, as well as the sale of some businesses. Revenues were, at $1.3bn, up 2% year on year.

Target raised 

Group earnings fell to 10.3% to $367m, equivalent to 40 cents a share, higher than analysts' estimates of a $0.34-a-share result.

DuPont also raised to $3.10 a share, from $2.90-3.05 a share, its forecast for full-year earnings.

Nonetheless, its shares closed at $47.22, down 1.0% from Monday's closing high.