June 1, 2006

Monsanto highly optimistic about Q3

Agriculture giant Monsanto has increased its outlook for fiscal 2006 earnings based on its strong performance from its corn seed and traits business.

The company's first and second quarter's net sales increased 31 and 15 percent respectively.

The company continues to attract strong interest and adoption of its seeds and trait technologies, according to Terry Crews, chief financial officer and executive vice president for Monsanto.

Monsanto also said it is paying more attention to its operations in Brazil, where conditions have been tough in recent months due to farmers' protests.

The addition of Monsanto's Seminis businesses are contributing to its overall portfolio and should it build positive momentum, Monsanto's president and chief executive officer Hugh Grant said in April.