Monsanto reported lower-than-expected earnings as slumping corn prices push farmers toward other crops, crimping sales of the company's best-selling biotech corn seeds.
The St. Louis agricultural business giant reported a second-quarter profit of $1.42 billion, or $2.92 per share, down from $1.67 billion, or $3.15 per share, in the prior year period. Sales slid to $5.2 billion from $5.8 billion.
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