Lower U.S. Corn Plantings, Prices in Brazil Impact Monsanto Results

Monsanto reported agricultural productivity — or crop protection — sales totaled $931 million in the second quarter, compared with $888 million in the year-ago period. Seeds and genomics sales fell to $4.1 billion from $4.2 billion a year ago.

Net income was $1.5 billion in the quarter, or $3.27 per share, compared with $1.4 billion, or $3.09 per share year earlier.

According to Monsanto, the results were driven by improved glyphosate pricing, as well as better pricing and increased acres from INTACTA RR2 PRO soybeans, offset by decreased corn volumes from the combination of timing and expected lower planted acres in the U.S., and from reduced corn prices from continued lower commodity prices in Brazil.

“We met our acreage target for INTACTA RR2 PRO soybeans in South America, and the Roundup Ready Xtend Crop System is on a path to record trait adoption,” added Brett Begemann, president and chief operating officer for Monsanto. “In just the third year of the trait on the market, U.S. farmers are on the way to planting nearly 50 million acres of dicamba-tolerant soy and cotton in 2018, nearly doubling last season’s acreage. Based on anticipated market demand, we’re expecting 60 million acres in 2019. Farmers clearly see the value in this weed control technology, and we are eager to partner with them to successfully use this vital tool.”

With Bayer leading the regulatory process for the pending merger, the companies continue to cooperate with regulators and have seen solid progress. The number of anti-trust approvals continues to increase, most notably from the European Commission, China and Brazil, and, as a part of this process, Bayer has announced several planned divestitures. With these actions, Monsanto continues to be confident in the companies’ collective ability to secure the required approvals within the second calendar quarter of 2018 and in the time contemplated by the agreement.

 

Topics: , , ,

Leave a Reply

Agrichemicals

Agrichemicals

Syngenta Herbicide Cleared for Use with Dicamba Technologies

Fusilade DX herbicide has been cleared for tank mixing with both XtendiMax with VaporGrip Technology and Engenia herbicides.

Vineyard-grapes
Agrichemicals

Introducing Biostimulant CommerceCon

The $1.8 billion biostimulant market is expected to reach $2.9 billion by 2021. It’s little wonder why both traditional agchem

Agrichemicals

Talking Dicamba: Q&A with Heartland Co-Op’s Dave Coppess

Dave Coppess, Executive Vice President, Sales and Marketing, Heartland Co-op, West Des Moines, Iowa, chats about the company’s experience with dicamba-resistant cropping systems.

Adjuvants

Wilbur-Ellis Launches Diligence-EA

Wilbur-Ellis Co. announced the release of DILIGENCE-EA, a new deposition and drift reduction product powered by ACCUSTRIKE technology.

Agrichemicals

U.S. Approves Bayer-Monsanto Merger – WSJ

The U.S. Justice Department has approved Bayer AG’s acquisition of Monsanto Co. after the companies pledged to sell off additional assets to secure government antitrust approval.

Agrichemicals

BASF Launches Spray Tool for Engenia

BASF on Wednesday launched its Engenia Herbicide Spray Tool to help growers make on-target applications.

Rice Closeup
Agrichemicals

Arysta Licenses Meiji’s Insecticide for Rice in India

Flupyrimin is a new proprietary active ingredient that provides effective control of damaging pests in rice and other important crops.

Agrichemicals

A Responsible Approach to Highly Hazardous Pesticides

"Our goal is now to encourage all stakeholders, including generic companies and governments in low income countries, to engage in a positive dialogue around pesticide use to ensure the sound management of highly hazardous pesticides globally."

Agrichemicals

ADAMA Reports Strong Sales; Sees Higher Costs

Adama: Procurement costs in the second half of 2017 were higher in comparison to 2016, which is expected to impact production costs going forward.

Agrichemicals

China’s Herbicide Formulation Export Values Rose 35% in 2017

The top 3 importing nations were Australia, Thailand and Nigeria.

Agrichemicals

Mitsui Merges European Crop Protection Subsidiaries

Certis Europe BV and Spiess-Urania Chemicals GmbH, two European crop protection subsidiaries of Mitsui & Co., Ltd., have announced their

Agrichemicals

Bayer: Enzymes in Honeybees Determine Neonic Sensitivity

A joint study by Exeter University, Rothamsted Research and Bayer has discovered enzymes in honey bees and bumble bees that determine how sensitive they are to different neonicotinoid insecticides.

Agrichemicals

Nichino America Launches Novel Fungicide

Flutianil, the active ingredient in Gatten, has specific activity against the fungal diseases that cause powdery mildew.

Nufarm-Photo-credit-Luis-Ascui
Agrichemicals

Nufarm Revenue Rises on North America Strength

The company is forecasting earnings growth for the full year.

Agrichemicals

Where Is Chinese Agchem Manufacturing Headed and How Should You Manage the Risks?

Exclusive insight from CS Liew, Managing Director of Pacific Agriscience Pte Ltd., Singapore

Agrichemicals

Crop Protection Product Resources to Help You Source Effectively

South Africa is days away from running out of water. Climate change is forcing growers to change the crops they

Agrichemicals

Kansas State Researchers Make Key Glyphosate Resistance Discovery

Kansas State University researchers have discovered how weeds develop resistance to the popular herbicide glyphosate, a finding that could have broad future implications in agriculture and many other industries.

Agrichemicals

Australian Authority to Greenlight Syngenta Fungicide

ChemChina reported that the Australian Pesticides and Veterinary Medicines Authority (APVMA) will approve the registration of Syngenta’s foliage fungicide MIRAVIS in April 2018.

Agrichemicals

ADAMA: Syngenta Crop Protection Product Transfer Underway

At the same time, the divestiture of certain crop protection products from ADAMA to Nufarm Europe has been completed.

Latest News

Europe

Spain, Italy: Tracking the EU Powers in Crop Protection

Three months into 2018, many of results of the Kleffmann end-user panels for 2017 are finalized. They confirm our view

Americas

U.S. Farm Bill Draft Defines Plant Biostimulants for First Time

Definition is a critical step in the legislative process to support the development of new sustainable technologies for agriculture and U.S. farmers.

Markets

Bayer Gains Russian Approval for Monsanto Deal

Bayer AG said Friday that Russian antitrust authorities have approved its proposed $57 billion acquisition of Monsanto Co. on the

Asia

Indian IoT Platform for Pre and Post Harvest Raises Seed Round

Indian startup AgNext has raised an undisclosed seed round led by India-focused Agtech VC Omnivore Partners along with Singaporean angel

Industry News

Verdesian Launches Renewed Focus on Grower Nutrient Use Efficiency

Verdesian Life Sciences has announced a reformulation of its mission, positioning statement and approach in order to create a more