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 Ahmed Farhatha.
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.