Origin Agritech Inks Contract Planting Agreement With This Farming Company

Agriculture technology company Origin Agritech Ltd (NASDAQ:SEED) has signed a contract planting agreement with farming company Sichuan Yingdafeng Agriculture Tech Co Ltd.
Under the terms of the agreement, Sichuan Yingdafeng will grow 100,000 mu (or 16,500 acres) of Origin's NEC corn for the 2023 growing season.
Origin will provide the seed and planting support services and has guaranteed to purchase the corn.
The corn will be sold to feedstock companies and hog farmers.
Price Action: SEED shares are trading higher by 2.50% at $11.71 on the last check Thursday.