Monsanto expects corn, soy to be profitable
The company is simultaneously cutting costs
These lines are projected to provide a third of gross profits in three years and expects a launch on 10-12 million acres. The new products are Genuity SmartStax corn and Genuity Roundup Ready 2 Yield soybeans.
Further news that the company’s restructuring plan will provide significant cost cuts helped push Monsanto shares up 42 cents at $78.50 in pre-market trade on the New York Stock Exchange.