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Monsanto speeding up product launches
Nov. 12, 2009
Monsanto said Tuesday that it will accelerate the roll-out of new premium corn and soybean seeds as it reaffirmed its financial guidance for the year.
The company says it now expects its new Genuity SmartStax corn seed to launch on more than 4 million acres in 2010, up from a range of 3-4 million previously expected. Monsanto also increased its expections for Genuity Roundup Ready 2 yield soybeans to 8-10 million acres.
CEO Hugh Grant said Monsantos renewed focus on seeds was being aided by an acceleration in regulatory approvals, especially in Latin America. He said the company is at an "inflection point" as a number of new seeds move closer to market and replace waning profits from Roundup herbicide.
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