Monsanto Killing DuPont Insecticide Sales With New Soybeans
- Genetically engineered soybeans are eroding insecticide sales
- Monsanto doubled sales last year and plans to do so again
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Monsanto Co.’s new Intacta soybeans are not only killing bugs on Brazilian farms. They’re crushing demand for insecticides made by competitors DuPont Co. and FMC Corp.
Intacta soybeans, which are genetically engineered for the Latin America market to produce their own insecticide, will be planted on 35 million acres during the current growing season, St. Louis-based Monsanto said Wednesday on a conference call to discuss fiscal second-quarter results. That exceeds the company’s 30 million-acre forecast and is more than double the 15 million acres planted last year.