Soy seed lifts Monsanto profit

(Reuters) — Monsanto Co. posted a stronger-than-expected quarterly profit last week as record soybean plantings lifted seed sales.

Sales of soybean seed and traits, the second-biggest business by revenue, jumped 29.3 percent to US$896 million in the third quarter ended May 31.

Net income attributable to Monsanto rose to $843 million, or $1.90 per share, in the quarter, from $717 million, or $1.63 per share, a year earlier.

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