Monsanto’s Profit Rises 8.6% on Soybean, Roundup Herbicide Sales

Monsanto Co., the world’s largest seed company, reported better-than-expected fiscal first-quarter earnings, Wednesday, on higher sales of the company’s soybean seeds and Roundup herbicide.

The company’s earnings rose 8.6%. Monsanto reported that it sold $1.7 billion worth of seeds. Its corn sales dipped 7% to $1.1 billion, while soybean sales rose 16% to $267 million. Herbicide sales also did well, with Monsanto reporting $1.5 billion in net sales.

Monsanto reported a quarterly profit of $368 million, 69 cents a share, which is up from $339 million, 63 cents a share, from last year.

In a Jan. 8 press release, Monsanto also said that it is making progress on developing herbicide-tolerant wheat, but said it is still several years away from a wheat product launch.
 

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