January 6, 2016 / 1:11 PM / in 2 years

Monsanto's profit falls on lower seed prices, strong dollar

Jan 6 (Reuters) - Monsanto Co, the world’s largest seed company, reported a quarterly loss, compared with a profit a year earlier, hurt by lower corn prices and a strong dollar.

Net loss attributable to the company was $253 million, or 56 cents per share, in the first quarter ended Nov. 30, compared with a profit of $243 million, or 50 cents per share, a year earlier.

Total net sales of the company, which is known for its genetically engineered corn, soybeans and the Roundup herbicide, fell 22.7 percent to $2.22 billion. (Reporting by Amrutha Gayathri in Bengaluru and P.J. Huffstutter in Chicago; Editing by Don Sebastian)

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