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Buoyant Monsanto raises earnings forecast

Strong demand for maize seed and traits in the US and higher sales of Roundup (glyphosate) herbicide have prompted Monsanto to raise its earnings guidance for fiscal 2007. The company expects full-year earnings to reach $1.60-1.65/share, compared with earlier guidance of $1.51-1.57/share (Agrow No 511, p 3). If achieved, this would represent a 22-26% increase over 2006 earnings and would mark the third consecutive year of over 20% growth, points out Monsanto's chairman, president and CEO, Hugh Grant.

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