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Monsanto lifts 2013 outlook as corn sales surge

8:07 AM MST | January 8, 2013 | Rebecca Coons

Monsanto raised its 2013 earnings outlook as first-quarter corn seed and traits results pushed profits far above Wall Street expectations. The company posted net income of $339 million (62 cts/share) for the quarter ended 30 November, up from $126 million in the year-ago period, on "significant contribution from the corn seed and traits business, led by the corn opportunity acceleration in Latin America and strong shipments in the United States," Monsanto says. Analysts had expected 37 cts/share according to Thomson Reuters (New York). Net sales...

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