The world’s largest producer of seed corn...

The world’s largest producer of seed corn said it would raise its prices an average 11.8% for next spring’s sales to farmers, reflecting the increased cost of replacing its drought-damaged U.S. crop. “This should be good news to those who have heard rumors that Pioneer seed corn would be selling for well over $100 a bag,” said Charles S. Johnson, senior vice president for Pioneer Hi-Bred International Inc.’s North American operations. Pioneer said it would increase the price of an average bag of seed corn by $7.39.