In trading on Wednesday, shares of Monsanto Co. (NYSE: MON) crossed below their 200 day moving average of $99.15, changing hands as low as $98.82 per share. Monsanto Co. shares are currently trading off about 1.6% on the day. The chart below shows the one year performance of MON shares, versus its 200 day moving average: …read more
The campus of the FDA‘s Center for Food Safety and Applied Nutrition is under siege today, and it has everything to do with Monsanto . Members of the Occupy Monsanto movement are staging an all-day “eat-in” to label food products that contain genetically engineered (GE) ingredients. They’re easy to dismiss, like an especially curmudgeonly Facebook commenter who described them as “hordes of crazed, anti-Monsanto, vegetarian hippies” did. That may well be true, but they are part of a broader movement that could pose a challenge to ag biotech’s comfortable dominion over our food supply.
Label it There is a growing movement among grassroots activists, NGOs, and natural and organic food companies to require labeling of food products containing GE ingredients. Whole Foods , the leading natural foods grocer, recently committed to labeling all of its products voluntarily within five years. Big Food companies spent heavily on campaigns against a proposition in California that would have mandated labeling and successfully torpedoed the bill. But there’s more where that came from. Vermont, Connecticut, and Iowa all have some form of labeling requirement making its way through the legislative process.
The New York Times recently reported that 20 major companies, including PepsiCo, ConAgra, and Wal-Mart, met in Washington, D.C., to lobby the FDA for a federal GE-labeling law. The idea is that companies prefer one federal law to a proliferation of state laws that would add to their compliance burden. Implicit in that notion is that a labeling requirement is inevitable.
All three branches of government? The Supreme Court heard arguments on Feb. 21 in the case of Bowman v. Monsanto Co. The central question is whether farmers who buy Monsanto’s Roundup Ready soybean seeds are free to do as they wish with the seeds harvested from those plantings. The justices seemed almost unanimously opposed to the farmers’ arguments, and they appear poised to rule in Monsanto’s favor. In a highly unusual move, the U.S. government not only filed an amicus brief supporting Monsanto but also sent a government attorney to argue on the company’s behalf, highlighting the Obama administration’s support for several elements of Monsanto’s argument.
In March, Congress passed and President Obama signed H.R. 933, a law that anti-GE advocates have dubbed the “Monsanto Protection Act.” Section 735 strips federal courts of the authority to halt the sale and propagation of genetically modified seeds and crops if concerns about health risks arise during safety tests. Did you catch that? Let’s pretend we’re talking about cribs instead of seeds. The corollary law would then say that if little babies’ fingers kept getting chopped off in crib safety testing, the courts couldn’t get involved. Disgraceful.
Senator Roy Blunt (R-Mo.), one of section 735’s biggest supporters, worked with Monsanto to craft the language in the bill. Section 735 is attached to a continuing resolution that only holds for the next six months, so it is not yet …read more
Monsanto, the world’s largest seed company, raised its full-year profit forecast on Wednesday after reporting a better-than-expected second quarter driven by strength in its global corn business.
Its shares rose nearly 2 percent in premarket trading after the company, a leading developer of genetically engineered corn, soybeans and other crops, said it expects to sell a record amount of corn this year.
Monsanto Co. (MON) said strong demand for its products allowed it to raise its fiscal 2013 earnings forecast by 10 cents a share to a range of $4.40 to $4.50 per share before certain after-tax items. That compares with a target set in January of $4.30 to $4.40 per share.
The outlook for net earnings for the full year was raised to $4.42 to $4.52 a share, up from $4.31 to $4.41.
Monsanto said net earnings were $1.48 billion, or $2.74 a share, in the second quarter, ended Feb. 28, compared with $1.21 billion, or $2.24 a share, a year earlier.
Before certain after-tax items, it earned $2.73 a share, up from $2.28 a year earlier. Analysts were looking for $2.58, according to Thomson Reuters I/B/E/S.
Net sales for the quarter increased 15 percent to $5.5 billion, led by sales of corn seed and genetic traits, which rose more than 16 percent to $3.28 billion. That offset a nearly 2 percent decline in sales of soybean seeds and traits, a 7 percent drop in vegetable seed sales, and a 9 percent slide in cotton seeds and traits.
Monsanto said strong corn sales in Brazil and in the U.S., where farmers are preparing to plant spring crops, drove results.
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Agribusiness ETF (AMEX: MOO) where we have detected an approximate $55.1 million dollar outflow — that’s a 0.9% decrease week over week (from 105,850,000 to 104,850,000). Among the largest underlying components of MOO, in trading today Monsanto Co. (NYSE: MON) is off about 0.3%, Deere & Co. (NYSE: DE) is up about 0.1%, and Potash Corp. of Saskatchewan Inc. (NYSE: POT) is up by about 1.1%. For a complete list of holdings, visit the MOO Holdings page » …read more Source: FULL ARTICLE at Forbes Markets
WASHINGTON (AP) — The Supreme Court appeared likely Tuesday to side with Monsanto Co. in its claim that an Indiana farmer violated the company's patents on soybean seeds that are resistant to its weed-killer.
WASHINGTON (AP) — The Supreme Court appears likely to side with Monsanto Co. in its claim that an Indiana farmer violated the company's patents on soybean seeds that are resistant to its weed-killer.
A 75-year-old Indiana grain farmer will take on global seed giant Monsanto Co at the U.S. Supreme Court next week in a patent battle that could have ramifications for the biotechnology industry and possibly the future of food production. …read more Source: FULL ARTICLE at Fox Business Headlines
Special to DOW JONES NEWSWIRES JERUSALEM–Israeli crop bioengineering company Rosetta Green Ltd. (RSTG.TV) said Sunday that Monsanto Co. (MON.NYSE) will acquire its activities for $35 million. Source: FULL ARTICLE at Fox Business Headlines
The European Union’s risk assessment body for food and food safety said Monday it has released on its website data on a type of genetically modified corn made by Monsanto Co. (MON) due to the level of public interest. Source: FULL ARTICLE at Fox Business Headlines