Monsanto cuts forecast for blockbuster soybean

摘要

Monsanto lowered its 2016 outlook for planting of its new Roundup Ready 2 Xtend soybeans in the US as it awaits EU import approval for the stacked-trait soy and faces resistance from grain traders. Monsanto had previously expected that the soybean, which stacks Monsanto’s next- generation trait for glyphosate resistance with a trait conferring dicam- ba tolerance, would be planted on 3 million acres in its launch year. "[But g]iven the European Union approval delay, Monsanto now expects [it] to be on less than two million acres in its frst year of launch in the United States," says v.p. and CCO Mike Frank, speaking at the Wells Fargo 2016 Industrials and Chemicals Conference currently underway in New York.