Monsanto: Quarterly profit down 34 percent


CNBC: The agriculture giant’s fall was not as sharp as some analysts predicted.

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CNBC: The agriculture giant’s fall was not as sharp as some analysts predicted.

New soybean products will be a core factor for profit growth this fiscal year, the company said, as corn acres in the United States and globally are seen dropping. The company’s early order book and prepayments for spring planting in the United States point to strong soybean demand, Monsanto said.

Due in part to lowered U.S. corn acres planted this spring, Monsanto’s second-quarter earnings are likely to drop 5 percent to 10 percent from a year earlier on an ongoing basis, company officials said.

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