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Sales in the company's corn seeds and traits business dropped
6.2 percent to $2.72 billion during the second quarter ended
Feb. 28.
The lower sales is a result of continued belt-tightening by
farmers amid slumping commodity prices and a global oversupply
of grain following years of bumper harvests.
Soybean business sales rose 6 percent to $912 million, the U.S.
seeds and agrochemicals company said.
In March, Bayer won EU antitrust approval for its $62.5 billion
bid to acquire Monsanto.
Net profit attributable to Monsanto rose to $1.46 billion, or
$3.27 per share, from $1.37 billion, or $3.09 per share, a year
earlier.
On an adjusted basis, the St. Louis, Missouri-based company
earned $3.22 per share, missing the average analyst estimate by
8 cents, according to Thomson Reuters I/B/E/S.
Net sales fell to $5.02 billion from $5.07 billion.
(Reporting by Ahmed Farhatha and P.J. Huffstutter in Chicago;
Editing by Bernard Orr and Sriraj Kalluvila)
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