Soy Business Lifts Monsanto Profit — WSJ

Increased soybean plantings in the U.S. this spring boosted biotech seed giant Monsanto Co.’s quarterly profit, despite the broader slump in agricultural commodity prices.

Farmers this year have dedicated more acres to soybeans after a string of record-breaking harvests eroded the price of corn and wheat. Soybean prices had fared better due to strong demand from China and elsewhere, though prices have declined as farmers ramped up planting. Heavy rain this spring also forced some farmers to switch some corn fields to soybeans, which typically can be planted later.

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