Summary Box: Monsanto profit balloons in 1Q

Summary Box: Monsanto 1Q profit nearly triples as biotech seeds expand in Latin America

Associated Press

SOUTHERN SALES: Monsanto reported that its profit nearly tripled in its first fiscal quarter due to expanded business in Latin America.

WARMER CLIMATES: The company's first fiscal quarter is usually not very profitable, as farming operations slow during the fall months in North America. But Monsanto said higher seed sales in Argentina, Brazil and other Latin American countries helped drive earnings from September through November.

RAISED EXPECTATIONS: The company raised its full-year earnings guidance to between $4.30 and $4.40 per share, from $4.18 to $4.32.

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