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Monsanto Company

Monsanto misses Street 2Q forecasts on falling seed sales

Monsanto Co. reported weaker-than-expected earnings Wednesday as the company offered price discounts to try and revive flagging sales of its biotech-enhanced seeds.

Monsanto has struggled with falling prices for crops like corn, soy beans and wheat, which have reduced farmers' spending on Monsanto's genetically enhanced seeds. At the same time, the strong dollar has made its products, including chemical weed killer, more expensive overseas.

The St. Louis-based company reported a second-quarter profit of $1.06 billion, or $2.41 per share, compared with $1.43 billion, or $2.92 per share, in the prior-year period. Earnings, adjusted for one-time gains and costs, were...

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