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Monsanto Raises Forecast as Profit Grows on Corn Seed Sales

Monsanto Co., the world’s biggest seed company, boosted its full-year forecast as it posted fiscal first-quarter earnings that surpassed analysts’ estimates on higher sales of corn seed and Roundup herbicide.

Profit was 62 cents a share, excluding income from a divested unit, St. Louis-based Monsanto said in a statement today. That beat the 36-cent average of 18 estimates compiled by Bloomberg. Monsanto said adjusted full-year earnings will be $4.30 to $4.40 a share, up from a prior projection of $4.18 to $4.32. The average of 21 analysts’ estimates was $4.40 a share.