Monsanto Lowers Profit Forecast on Strong Dollar, Corn Drop
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Monsanto Co., the world’s largest seed company, lowered its forecast for fiscal 2015 earnings and said it will cut spending as farmers plant less corn while a strengthening U.S. dollar erodes foreign sales.
Earnings before one-time items in the 12 months through August will now be at the low end of its previous projection of $5.75 to $6 a share, St. Louis-based Monsanto said Wednesday in a statement.