(Adds details, outlook)
Jan 6 (Reuters) - Monsanto (N:MON) Co MON.N , the world's largest
seed company, said it expects 2016 earnings to be in the lower
half of its previous forecast but reported a
smaller-than-expected quarterly loss as soybean sales rose in
Brazil.
The company now expects full-year adjusted earnings to be in
the lower half of the $5.10 to $5.60 range, partly due to weak
currency in Argentina.
Monsanto has come under renewed pressure to pursue a merger
with Swiss agrochemical maker Syngenta SYNN.VX after the
ongoing merger between DuPont (N:DD) DD.N and Dow Chemical Co DOW.N
paved the way for an industry shake-up.
Monsanto, which is known for its genetically engineered
corn, soybeans and the Roundup herbicide, abandoned a $45
billion bid for Syngenta in August.
Net loss attributable to the company was $253 million, or 56
cents per share, in the first quarter ended Nov. 30, compared
with a profit of $243 million, or 50 cents per share, a year
earlier.
On an adjusted basis, Monsanto reported a loss of 11 cents
per share.
Analysts on average had expected a loss of 23 cents,
according to Thomson Reuters I/B/E/S.
Total net sales of the company fell 22.7 percent to $2.22
billion.