Seed Demand Prompts First Half Gains for Monsanto

Monsanto this week announced increased sales and profits for the first half of its current fiscal year. Monsanto's net sales for the second quarter increased to approximately $5.1 billion, up from $4.5 billion in the prior year period. Gross profit for the quarter also increased over the prior year to $3.0 billion versus $2.6 billion. For the first six months, net sales increased to $7.7 billion, and gross profit was $4.2 billion, significantly outpacing the first half of fiscal year 2016. The company says the performance was driven in part by strong gross profit growth from its corn and soybean businesses. For Roundup Ready 2 Xtend soybeans, Monsanto says it is expected to reach 18 million acres in the United States this year. A similar Monsanto product is anticipated to expand to 45 to 55 million acres in South America. In referring to the Monsanto-Bayer merger, Monsanto CEO Hugh Grant said in a statement that Monsanto’s “innovation and unique platform advantages” position the company to meet future challenges and makes Monsanto an “attractive, complementary partner for Bayer."   USDA Announces Grants to Relieve Veterinarian Shortages The Department of Agriculture announced this week $2.4 million in funding to help relieve veterinarian shortages and support veterinary services. The funding, through USDA’s National Institute of Food and Agriculture, supports development, implementation, and sustainability of veterinary services to relieve veterinarian shortages in the United States through the Veterinary Services Grant Program. The program is part of the 2014 farm bill and was created to establish or expand accredited veterinary education programs, and to provide continuing education for veterinarians. Eligibility and deadline information is available at NIFA dot USDA dot gov (www.nifa.usda.gov).