Delayed seed shipments due to a cold spring and the planting of fewer corn hectares were among the reasons cited by Monsanto for its 6.2% Q2 drop in corn seed sales to $2.7bn. In contrast, the same period saw a 6% uptick in soyabean sales to $912m, as farmers switched to the crop a month later. "It hasn't been a normal spring, and because of that, I think we could see farmers trying to switch some of their corn acres to soyabeans, because you plant soyabeans earlier in the season", said Bernstein senior analyst Jonas Oxgaard.
Delayed seed shipments due to a cold spring and the planting of fewer corn hectares were among the reasons cited by Monsanto for its 6.2% Q2 drop in corn seed sales to $2.7bn. In contrast, the same period saw a 6% uptick in soyabean sales to $912m, as farmers switched to the crop earlier in the season. "It hasn't been a normal spring, and because of that, I think we could see farmers trying to switch some of their corn acres to soyabeans, because you plant soyabeans a month later", said Bernstein senior analyst Jonas Oxgaard.