The US company Monsanto expects high corporate profits for the coming year as prices for key chemical components of weed killers rise and better demand for soybean seeds is expected.
The company, which now belongs to the German Bayer AG, confirms that especially glyphosate, the main component of the weed killer Roundup, is becoming more expensive.
Yesterday, eleven US states opposed printing on Roundup's packaging that the product was potentially carcinogenic.
Monsanto today announced that agricultural revenue in 2018 is expected to be the second highest, up 11% from a year ago, as glyphosate becomes more expensive.
Sales of soybean seeds increased 21.3% to $ 728 million. New varieties are currently being cultivated in order to increase their market share in the USA even further. The US is the world's second largest market for soybeans.
Monsanto's net profit increased to $ 169 million or 38 cents per share in the first quarter of the fiscal year, which began on August 1. Facilities were also sold during the quarter. In the same period of 2017, the profit was 29 millionUSD or 7 Ct / share.
Text: HANSA Derivatives Trading GmbH /
