Dow Chemical completed a trio of agriculture-related businesses to report results ahead of forecasts, flagging a boost in farming from Europe's dry spring and a rush by US growers to lift cotton seedings.

The chemicals conglomerate trumpeted record revenues and profits at its health and agricultural sciences division as it unveiled a 34% jump to $625m in first-quarter group earnings.

On an underlying basis, earnings came in at $0.82 a share, trouncing analysts' expectations of a $0.67-a-share result. Revenues of $14.7bn were also $700m ahead of Wall Street forecasts.

Results on Thursday from oilseeds processor Bunge and fertilizer giant PotashCorp also beat investors' hopes.

"This quarter's performance showed once again that we remain firmly on our earnings growth trajectory," Andrew Liveris, the Dow chairman and chief executive, said.

Dow shares hit $41.40 in early deals in New York, their highest for nearly three years, before losing some ground to close at $40.70, up 1.9% on the day.

Cotton boost 

A rise of 17.3% to a record $1.61bn in sales at the agriculture division reflected growth in both prices and volumes, with takings higher across the Dow empire.

However, sales of agrichemicals were particularly high in Europe, where a dry spring allowed cereal farmers to make timely sprays with herbicides.

Demand for seed soared more than 25% helped by sales of the SmartStax genetically modified products developed with Monsanto.

Sales of cutting edge Phytogen cotton seed were especially strong, growing by more than 90%, "driven by an increase in planted US acres", as well as continued gains for the brand in market share.

The division's earnings before interest, tax, depreciation and amortisation (ebitda) rose 5.7% to $406m.