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Thursday, August 18, 2016

Monsanto Holds the Line on Profit Outlook

(Dow Jones) -- One of the most significant pieces of news from Monsanto's annual midsummer investor event may be the lack of news as far as its financial outlook. Monsanto continues to project full-year earnings at the low end of its previously outlined $3.36-$4.14 range, and expects earnings per share growth to resume in FY17 -- no change from what Monsanto outlined in late June. It's noteworthy as expectations for another big US crop have only grown since then, which would further pressure farmers' spending on MON's seeds and sprays. Monsanto is also touting its growth prospects after several times rejecting takeover proposals from German rival Bayer.