Monsanto

(Monsanto)

Monsanto Slashes '16 Earnings Forecast

Industries Reuters

Monsanto, the world's largest seed company, slashed its 2016 earnings forecast, citing a strong dollar and pricing pressure.

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The company said on Wednesday it now expects adjusted earnings per share of $4.40-$5.10, compared with the $5.10-$5.60 it had forecast in December.

Monsanto said about 25-30 cents of the reduction in the earnings per share outlook was due to the impact of the stronger dollar.

(Reporting by Amrutha Gayathri in Bengaluru; Editing by Saumyadeb Chakrabarty)