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Monsanto Earnings Fall 34% After A Year Of Global Protests

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Monsanto said Wednesday its earnings fell 34% in its first fiscal quarter, as South American farmers cut back on planting corn, reducing demand for the company’s biotech-enhanced seeds.

US farmers harvested record crops of soybeans and corn last year, sending prices on those food staples to their lowest levels in years. That has resulted in farmers in South America and elsewhere reducing the number of acres they dedicate to corn. Monsanto said its business was also affected by reduced cotton planting in Australia.

The agriculture products company’s revenue fell more than 8% to .87bn in the period, on lower sales of corn seeds and herbicide. Analysts expected .96bn, according to Zacks.

The St Louis-based company reported a profit of 43m, or 50 cents per share, down from 68m, or 69 cents per share in the same period last year.

Earnings, adjusted to account for discontinued operations, came to 47 cents per share in the most recent quarter.

Even with the fall in earnings, the results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

Monsanto shares have decreased nearly 3% since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 8%. The stock has increased slightly in the last 12 months.

The food conglomerate has been at the center of controversy over its genetically-modified seeds for some time, with the focus intensifying in the US last year with marches against the firm and a “Millions Against Monsanto” campaign.

In November’s election, Monsanto and Hormel poured millions into fighting an Oregon state measure, Proposition 92, that would have forced companies to label any food containing genetically modified ingredients. The companies narrowly prevailed and defeated the measure.

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  • Singing Bear

    Monsanto is pure evil

    • Rae

      Monsanto is the reason why sodium fluoride (often misstated for fluorite by American publishers of educational things – fluorite being from earth and fluoride being from man via chemical waste byproduct) started getting put in our water, just as they did to the victims of Nazi Germany (to cause to become docile and subservient, calcifying the pineal gland and other damage to the brain and body); it’s also put in our toothpaste and is a main ingredient in many psych meds. Monsanto made agent orange, too. Monsanto also made chemo, which was inspired by a mustard gas experiment. Their sodium fluoride was also used as pest control, bug control, and the key chemical used to make the atomic bomb. It is known by many to be the most violent neuro-toxin (for evidence of some things it does: ).

  • DescramblerDave

    What will it take for legislators to man up and to PROTECT the voters that elect them?

    Education and information is essential to making healthy eating choices. Freedom to choose what you eat should NEVER be infringed upon!!

    • Rae

      It’s the banking cartel that sponsors them, so they do what the banksters want. The government would not get the money they wanted without permission from the bankers who not only write their checks but print their money. Rothschild, Rockefeller, JP Morgan, Carnegie – to name a few

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