In South America, farmers are gearing up for planting and during the next several months will be seeding their fields with their crops. Early-season estimates suggest that soybean production in Brazil is expected to remain flat year over year. Meanwhile, farmers in both Brazil and Argentina are expected to increase their plantings of corn as they work to support the growing demand on Latin America export needs.
Monsanto reported record net sales of $1.6 billion for the fourth quarter of fiscal year 2007, which were 13 percent higher than sales in the same period in fiscal year 2006. Key drivers for the quarter were a strong conclusion to the corn seed and traits season in the United States as well as increased corn seed revenues in Argentina and Brazil. Results in the quarter also included results from our Delta and Pine Land (D&PL) cotton business, which included a $186 million in-process research and development (IPR&D) charge.
Monsanto saw record sales of $8.6 billion in the company's fiscal year 2007. The year-to-date sales were 17 percent higher than sales in fiscal year 2006. Key contributors to the company's growth included higher worldwide corn seed and traits revenues, as well as increased sales of Roundup and other glyphosate-based herbicides globally. These results were partially offset by lower revenues from the company's soybean seed and trait business, as farmers reduced the number of acres planted in favor of corn. Results also reflected lower cotton trait revenues, as the total number of acres planted in Australia and the United States were reduced compared with the prior year.
Monsanto reported a net loss of $210 million in the fourth quarter of
fiscal year 2007, compared with a
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