Monsanto expects corn, soy to be profitable

The company is simultaneously cutting costs

Despite cutting nearly two thousand employees, Reuters reports Monsanto is set to introduce its new corn and soybean products next year.

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.

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