Global Demand for Grains Keeps Surging, and Monsanto May Be Trend's Purest Play
Monsanto (MON), the world’s largest seed company, announced this week that quarterly profits were fatter than expected thanks to a strong appetite for corn and beans, reports Bloomberg. Driven by high corn prices, farmers this year planted more corn than they have since 1937. At Monsanto, corn seed and genetic license sales were up 35%. Soybean sales were up 15%. Total sales were $4.22 billion. And if trends continue, Monsanto could keep packing it on.