KANSAS CITY, Mo. (Reuters) – Monsanto posted a net loss of $19 million for the quarter ended Nov. 30, compared with a year-earlier profit of $556 million.
The loss is due to sliding herbicide revenue and a drop in corn and soybean seed sales.
Roundup and other glyphosate-based herbicide sales were off 63 percent as volume and pricing slid.
Monsanto expects results to improve later this year as it introduces new corn and soybean seed varieties.
