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2009-05-29 |

Roundup outlook dims for Monsanto

A flood of inexpensive Chinese-made herbicide and deep price cuts by its rivals are leading Monsanto to cut profit expectations for its best-selling Roundup weed killer.
The agriculture giant, which has made billions of dollars selling Roundup and crops resistant to its effects, said Tuesday the dip in gross profit from herbicide sales will be swifter and steeper than initially anticipated. ”Roundup is taking it on the chin because of faster than expected competition,” Mark Gulley, an analyst at Soleil Securities in New York. ”We’ve known renewed competition from China was coming. It’s clearly come a little faster than we thought.”

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2009-05-29 |

Roundup outlook dims for Monsanto

A flood of inexpensive Chinese-made herbicide and deep price cuts by its rivals are leading Monsanto to cut profit expectations for its best-selling Roundup weed killer.
The agriculture giant, which has made billions of dollars selling Roundup and crops resistant to its effects, said Tuesday the dip in gross profit from herbicide sales will be swifter and steeper than initially anticipated. ”Roundup is taking it on the chin because of faster than expected competition,” Mark Gulley, an analyst at Soleil Securities in New York. ”We’ve known renewed competition from China was coming. It’s clearly come a little faster than we thought.”

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