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ap

Monsanto reiterates its 2010 outlook

Monsanto reiterates 2010 profit forecast, expects to double profit in 2012 from 2007

  • On 1:16 pm EST, Tuesday November 10, 2009

ST. LOUIS (AP) -- Monsanto Co. on Tuesday reiterated that it expects to earn $3.10 to $3.30 per share in fiscal 2010.

Analysts polled by Thomson Reuters expect 2010 profit of $3.29 per share.

The world's biggest seed maker, based in St. Louis, also reiterated that it expects to double its gross profit in 2012 from 2007. It anticipates 2010 profit in a range of $8.6 billion to $8.8 billion.

Monsanto said it expects a boost from accelerated launches for Genuity Roundup Ready 2 Yield soybeans and Genuity SmartStax corn.

Monsanto shares fell 60 cents to $69.40 in afternoon trading.

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