(Reuters) -Agriculture company Corteva is exploring a breakup that would separate its seed and pesticide businesses into two separate companies, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The company, with a market capitalization of nearly $50 billion as of last close, is expected to reveal plans soon, the report said.

Shares of Corteva, which did not immediately respond to a Reuters request for comment, closed up 1%.

Corteva is among the largest crop-protection product makers in the United States, competing with the likes of Syngenta and German firms BASF and Bayer in the agricultural chemicals sector.