Agrium Inc. (AGU) reported adjusted net earnings of 29 cents per share in the third quarter of 2009, missing the Zacks Consensus Estimate of 32 cents. Year over year, earnings declined a significant 87% on lower volumes and prices. Revenues were down 41% year over year to $1.9 billion on weak corn prices and lower consumption of crop protection products at retail level.  Retail segment: Retail segment revenues plunged 25% to $1.2 billion in the quarter on a 41% decline in crop nutrient sales to $345 million due to a significant decline in crop nutrient prices. Crop nutrient volumes in the quarter remained flat. Gross profit from the crop nutrients business almost halved to $31 million. Crop protection sales were $768 million in the quarter, down 12% from the same period last year. The decline was driven by lower volumes for fungicides and lower pricing for glyphosate products. ...

Monsanto Co. (MON) disappointed investors on Wednesday by saying it would only meet the lower end of its earnings outlook for the year as stiff competition in the herbicide segment and adverse weather conditions hurt sales.

As cooler, wetter weather in parts of the U.S. postponed the use of Roundup and other glyphosate products, the agribusiness giant lowered its outlook for gross profit at the segment to $2 billion from a previous view of $2.4 billion. Monsanto also said "generic and other branded competitors continue to aggressively move larger-than-expected volumes of lower-priced material."

The company now expects to earn about $4.40 per share in fiscal 2009, the lowest point of its forecasted range of $4.40 to $4.50. For the year ending in August, 11 analysts on an average had estimated a profit of $4.62 a share. Monsanto is due to release its fiscal third-quarter results June

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