Agriculture is a major contributor to the United States economy and employer of labour. According to the Department of Agriculture, the sector was responsible for 5.5% of the country’s gross domestic product (GDP) and employs more than 10% of the workforce.
There is an ever-growing interest in agricultural stocks as agriculture companies work to feed the booming global population. Advancements in technology and ease of investment further make it enticing to purchase stocks.
To come up with this list, we looked at the stock price growth of publicly traded companies with some of the highest market capitalisation.
- Corteva (CTVA)
Stock Performance in 2024: +37.44%
Market Cap: USD$41.19 billion
Year highlights: Corteva Agriscience is an American agricultural chemical and seed company that develops and sells seeds, crop protection products, and digital innovation. It introduced a groundbreaking non-GMO hybrid wheat technology that boosts yield potential by 10% and enhances drought resistance, offering significant benefits for farmers and global food security. The company also partnered with Pairwise in a $25 million joint venture to accelerate advanced gene-editing technologies, improving crop resilience to climate change and increasing yields for food, fuel, and fibre production. In addition, it launched Corteva Catalyst, an investment and partnership platform aimed at accelerating agricultural innovations in genome editing, biologicals, technology platforms, and decision science to sustainably enhance global food production. - CF Industries Holdings, Inc. (CF)
Stock Performance in 2024: +29.29%
Market Cap: USD$16.92 billion
Year highlights: CF Industries Holdings, Inc. is an American manufacturer and distributor of agricultural fertilisers, including ammonia, urea, and ammonium nitrate products. It announced plans to invest $100 million in a carbon capture and sequestration (CCS) project at its Yazoo City, Mississippi, Complex, aiming to reduce CO2 emissions by up to 500,000 metric tons annually starting in 2028, partnering with ExxonMobil. It also worked with POET to pilot the use of low-carbon ammonia fertiliser, aiming to reduce the carbon intensity of corn and ethanol production by up to 10%, with applications starting in fall 2024. Partnering with JERA, the company plans to develop a 1.4 million metric ton low-carbon ammonia plant in Louisiana, targeting production by 2028 to support Japan’s decarbonisation goals through ammonia-based energy solutions. - Deere & Co (DE)
Stock Performance in 2024: +15.98%
Market Cap: USD$119.25 billion
Year highlights: John Deere is an American corporation that manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, drivetrains (axles, transmissions, gearboxes) used in heavy equipment and lawn care equipment. It announced making significant investments across multiple facilities, including a $13.5 million expansion of its Reman Core Center in Missouri, a new 9RX High-Horse Power tractor line in Iowa, and a $70 million factory for small excavators in North Carolina. Additional upgrades include a $101 million renovation for X9 Combine production in Illinois, a $40+ million sprayer facility expansion in Iowa, and a $10 million modernisation of its seeding facility in Illinois to enhance efficiency, quality, and employee experience. It also partnered with The Farmlink Project to rescue over 15 million pounds of surplus apples and redirect them to food banks, enhancing food security while reducing waste. The company hosted a three-day in-person training course to help expand the skillsets and knowledge of entry-level operators as it expanded its training centre in Florida. It worked with Trimble to integrate Trimble Earthworks Grade Control technology into its SmartGrade™ platform, enhancing jobsite productivity and providing customers with advanced grade control solutions. John Deere introduces new Z900 EFI ZTrak™ Mowers and expanded QuikTrak™ Mower deck options for the Q865R EFI model at the 2024 Equip Expo. It also unveiled plans to expand its John Deere Reman Core Center facility by an additional 120,000 square feet with $13.5 million and it expects to complete it in 2026. With DeLaval, it launched the Milk Sustainability Center (MSC), a digital ecosystem aimed at helping dairy farmers improve efficiency and sustainability by providing comprehensive data analysis. - Dole PLC (DOLE)
Stock Performance in 2024: +10.85%
Market Cap: USD$1.26 billion
Year highlights: Dole plc is an Irish-American agricultural corporation that produces fruit and vegetables, and supplies about 300 products in 75 countries. It launched DOLE® GO Organic! range of fresh fruits and vegetables in 2024, combining delicious taste with sustainable farming practices to make organic produce more accessible and environmentally friendly. The company also completed the sale of its 65% stake in Progressive Produce LLC to PTF Holdings for $120.25 million. It joined Global Women Fresh as an “Empowered Sponsor” to promote gender equality and empower women in the fresh produce sector. - Tyson Foods Inc (TSN)
Stock Performance in 2024: +3.15%
Market Cap: USD$20.02 billion
Year highlights: Tyson Foods, Inc. is an American multinational corporation that processes and markets chicken, beef, and pork. It operates under several subsidiaries and brands including Jimmy Dean, Hillshire Farm, Ball Park, Wright Brand, Aidells, and State Fair. The company launched star-shaped Tyson® Dallas Cowboys Nuggets, combining game-day excitement with a $1 donation to The Salvation Army for each purchase, up to $100,000. It also announced Tyson® Razorback™ Nuggets, hog-shaped chicken nuggets celebrating Arkansas Razorbacks fandom, just in time for football season. It reached an agreement to sell its Vienna, Georgia poultry complex to House of Raeford Farms, which plans to maintain operations with the existing workforce and grower network. Tyson Foods opened a new food production facility in Bowling Green, Kentucky, to support a significant expansion of its bacon production capabilities. - CHS Inc. (CHSCL)
Stock Performance in 2024: +1.80%
Market Cap: USD$351.59 million
Year highlights: CHS owns and operates various food processing and wholesale, farm supply, financial services and retail businesses. CHS Foundation awarded $47,500 to rural community projects, funding supports safety and basic needs services in 10 communities. The company acquired the West Central Ag Services cooperative to create a new ag retail business unit called CHS West Central, strengthening market access for farmer members and integrating them into its global grain and agronomy supply chains. It is expanding and upgrading its Kindred, North Dakota grain terminal to increase capacity and improve connections for local growers. The project will enhance storage, speed up loading, and improve market access to the Pacific Northwest and regional processing plants. It introduced the first of six new products designed to enhance growers’ crop yields, New Trivar® EZ, an enhanced granular micronutrient fertiliser blend that features the Levesol® chelating agent that helps improve the availability of micronutrients to crops. CHS and Rumo announced plans to build a grain and fertiliser terminal in Brazil, which is expected to handle 12.5 million tons per year. It worked with AgVend to enable wholesale customers to do business within their AgVend-built platform including placing orders, viewing invoices, tracking shipments and more. The company opened a new crop science research centre outside St. Paul, Minnesota, to advance its agronomy solutions. Meanwhile, its refinery at McPherson, Kansas, earned ENERGY STAR certification from the US Environmental Protection Agency (EPA). It also purchased a facility to expand its dry bean operations in Othello, Washington State, to grow market access for western pulse crop producers.
Popular names missing
While some agricultural companies have seen strong stock performance in 2024, others have experienced notable declines, signalling challenges in the sector. Some of the most prominent names in agriculture have been missing from the list of top performers, including major players like ADM, Bunge, The Mosaic Company, and AGCO, which have faced significant stock price reductions.
- ADM (Archer-Daniels-Midland Company)
Stock Performance in 2024: -25.99%
Despite being one of the giants in the agricultural industry, ADM has struggled with a 25.99% decline in stock value this year. As a leading processor of grains, oilseeds, and other agricultural products, ADM’s performance reflects broader market pressures and challenges in the global food supply chain. - Bunge Limited
Stock Performance in 2024: -15.98%
Bunge, a major player in global agribusiness, has also faced a difficult year with its stock dropping by 15.98%. The company, which is heavily involved in the production and distribution of grain and oilseed products, has been impacted by fluctuating commodity prices and geopolitical tensions affecting trade flows. - The Mosaic Company
Stock Performance in 2024: -15.50%
The Mosaic Company, a leading producer of potash and phosphate, has seen its stock price decrease by 15.50%. This decline reflects a challenging period for the fertilizer industry, where rising input costs and supply chain disruptions have strained profitability. - AGCO Corporation
Stock Performance in 2024: -13.12%
AGCO, known for manufacturing agricultural equipment, has also been affected by a 13.12% drop in stock value. The company, which supplies a wide range of machinery and equipment for global farming, has been contending with rising material costs and reduced demand in certain key markets.
These companies’ declines serve as a reminder that even major agricultural players are not immune to the fluctuating forces of global markets, supply chain disruptions, and industry-specific challenges.
