Under pressure on numerous fronts, Monsanto (NYSE:MON) is taking one step they have control over, and that is to lower the prices of some of their seeds.
JPMorgan Chase & Co. (NYSE:JPM) said after a private meeting for investors and analysts Thursday that Monsanto will cut the price on SmartStax corn seed by 67 percent from the 2010 prices, and for their Roundup Ready 2 Yield soybean seed, they'll cut prices by 75 percent.
Monsanto has been battling with farmers over the price of seed over the last year or so, and this is obviously their response to slowing sales and earnings.
The percentage in cuts are important because they're a strong improvement over previous projected price cuts for the 2011 season of about 50 percent.
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