Monsanto sales down 11% in second quarter
Reduced sales of seed and agrochemicals contributed to a 10.9% decline in Monsanto's revenues to $5,197 million in the three months to February 28th 2015. The company points to lower demand for maize seed and a shift in sales from the second to third quarter of fiscal 2015. Monsanto's soybean seed business remains strong and the company is confident about long-term growth. "The annual dynamics of agriculture may cause our rate of gain to be uneven at times, but it doesn't change the trajectory for growth, particularly given the backdrop of long-term demand for both corn and soybeans," says company chairman and CEO Hugh Grant.