Posted on Friday, July 1st, 2011 at 6:58 pm.
Monsanto released its third quarter earnings Wednesday, showing substantial growth in their net income.
The company showed growth in all segments and across geographic locations, including the United States, Brazil, and Argentina. The third quarter is Monsanto’s most important, being the peak sales season for U.S. Farmers. The St. Louis-based company grew its net income 77 percent to $680 million in the third quarter. Monsanto revenue increased 21 percent to $3.59 billion.
Monsanto’s most profitable business, its global seed trade, saw sales hit $2.65 billion, up 12 percent. The company saw a strong demand for higher priced, genetically engineered seeds containing various traits. U.S. farmers paid more for high quality reduced refuge corn, as well as Round up ready 2 yield soybean seeds as global food prices hit historic highs.
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