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Pricey Monsanto too late for harvest

There is no pleasing some people. Monsanto blew the lights out with its first-quarter numbers, with profit coming in 40 per cent ahead of expectations and an increase in guidance for the full year. In return, shares in the genetically modified crop specialist rose a measly 3 per cent. That is partly because the first quarter, which comes before the U.S. growing season, accounts for less than a fifth of earnings.