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Monsanto’s Losses Widen As Seed Sales Decline

For related articles and more information, please visit OCA's Genetic Engineering page and our Millions Against Monsanto page.

WASHINGTON - Agricultural business giant Monsanto Co. reported worse-than-expected losses for its fiscal fourth quarter on Wednesday, due to lower sales of its genetically engineered seeds.

The company forecast for fiscal 2014 also came in below Wall Street expectations, and it revealed plans to buy farming software and data firm The Climate Corporation. The combination sent shares lower in morning trading.

Monsanto said separately it would pay $930 million in cash for the Climate Corporation, which was founded in 1996 by engineers from Google and other Silicon Valley companies. The company's technology uses weather forecasting and data analysis to help farmers plan their growing seasons.

Company executives said the purchase is part of a broader strategy to combine the company's biotechnology with the emerging field of agriculture-focused information technology.

"Looking into the future, growers will need every available tool to produce more yield on the same acre," said CEO Hugh Grant, during a call with analysts. "Strategically, we believe we're putting the best in class analytical capability on the largest global agricultural footprint."

Grant said Monsanto would integrate Climate Corp's technology into its Integrated Farming Systems business, a computer-based system designed to help farmers increase production.