|The world's largest seed company, which last month raised its earnings forecast for the quarter and the full fiscal year, reported growth in both of its top seed businesses: corn and soybeans. Net sales jumped 35% for corn seeds and traits and 15% for soybean seeds and traits.
The jump in corn-seed sales followed a busy spring in which farmers, encouraged by high grain prices, planted the most corn acres since 1937, according to government estimates. Monsanto Chief Executive Hugh Grant also said the company has seen strong farmer adoption of its premium corn and soybean seeds, which have higher profit margins.
The results extend recent strength in the seed business, which has grown in importance as Monsanto reduces its focus on weed-killer offerings amid competition from generic products, especially those from China."
I think this is all I can quote under fair use strictures, but it's enough. US farmers are still monocropping, organic is making inroads, but not enough to matter, and the one thing that scares agribusiness is China.