Wednesday June 28 Ag News

ABC, BPI Settle LFTB Libel Suit

(AP) --- ABC and a South Dakota meat producer announced a settlement Wednesday in a $1.9 billion lawsuit against the American network over its reports on a lean, finely textured beef product that critics dubbed "pink slime."

The terms of the settlement are confidential. Dakota Dunes-based Beef Products Inc. sued ABC in 2012, saying ABC's coverage misled consumers into believing the product is unsafe, is not beef and isn't nutritious. ABC spokeswoman Julie Townsend said in a Wednesday statement that the network throughout the case has maintained its reports accurately presented the facts and views of knowledgeable people about the product.

"Although we have concluded that continued litigation of this case is not in the Company's interests, we remain committed to the vigorous pursuit of truth and the consumer's right to know about the products they purchase," Townsend said.

BPI and its family owners said in a statement that the lawsuit was difficult, but necessary to start rectifying the harm suffered as a result of ABC's reports on lean, finely textured beef. The coverage emphasized that the product at the time was present in 70 percent of the ground beef sold in supermarkets, but wasn't labeled.

After the reports aired, some grocery store chains said they would stop carrying ground beef that contained the product. BPI claimed in the 2012 complaint that sales declined from about 5 million pounds (2.3 million kilograms) per week to less than 2 million pounds (907,000 kilograms) per week.

The product can be added to ground beef to reduce the overall fat content. It's made from trimmings left after a cow is butchered. The meat is separated from the fat, and ammonia gas is applied to kill bacteria. Former Department of Agriculture microbiologist Gerald Zirnstein named the product "pink slime" in a 2002 agency email.

BPI has said the sales drop forced it to close plants in Iowa, Kansas and Texas, laying off more than 700 workers. Only a Nebraska plant in South Sioux City remained open.

"Through this process, we have again established what we all know to be true about Lean Finely Textured Beef: it is beef, and is safe, wholesome, and nutritious," the company and family said in the statement. "This agreement provides us with a strong foundation on which to grow the business, while allowing us to remain focused on achieving the vision of the Roth and BPI family."

Both ABC and BPI declined to comment beyond their written statements.

BPI could have been seeking damages as high as $1.9 billion, according to a U.S. Securities and Exchange Commission filing from Disney, which owns ABC. BPI was also seeking "treble" damages, or triple the amount, under South Dakota's Agricultural Food Products Disparagement Act and punitive damages.

Opening statements in the trial against ABC and correspondent Jim Avila were in early June, and the trial was scheduled to last until late July.



Helicopter flight data to be shown at July 13th meeting

Last summer, Northeast Nebraska residents may have seen a low-flying helicopter with a large “spider web” array of scientific equipment towed about 100 feet below it.  The equipment is designed to map geologic structures beneath the earth.  Flights were conducted over portions of the following counties:  Cedar, Cuming, Dixon, Knox, Madison, Pierce, Platte, Stanton, and Wayne Counties.  The helicopter flew lines spaced approximately 3 miles apart over most of the area.

The Lower Elkhorn Natural Resources District (LENRD) will have the final report from these flights available at their committee meeting on Thursday, July 13th at 7:00 p.m.  The meeting will be held in the Lifelong Learning Center on the campus of Northeast Community College in Norfolk.  Technicians from Aqua-Geo Frameworks, LLC, will be presenting the information discovered during the exploration of the aquifers, hundreds of feet below the land surface.

LENRD Assistant General Manager, Brian Bruckner, said, “The geologic information available from the flights will improve the district’s understanding of the available groundwater resource and potential groundwater/surface water connections in an area of the state made more complex by the presence of glacial deposits.”  He added, “Understanding these isolated aquifers will help us to protect the resource and make better management decisions in the future.”

The LENRD planned these flights with grant assistance from the Nebraska Water Sustainability Fund.  If you would like to learn more, visit the ENWRA website at www.enwra.org under the “2016 AEM flights” tab.



Nebraska’s NRDs Celebrate 45 Years of Protecting Natural Resources

July 2017 marks 45 years of protecting lives, property and the future of natural resources for Nebraska’s 23 Natural Resources Districts (NRDs).  Throughout 2017, the NRDs will be celebrating the success of projects and programs that help protect Nebraska’s natural resources.  NRDs are unique because they are governed by locally elected boards and Nebraska is the only state to have this system.  A handful of board members, managers and staff have been a part of the system since the NRD creation in 1972.

Senator Maurice Kremer introduced and the Nebraska Legislature enacted Legislative Bill (LB) 1357 in 1969 to combine Nebraska’s 154 special purpose entities into 24 Natural Resources Districts by July 1972.  The original 24 NRDs’ boundaries were organized based on Nebraska’s major river basins which allows for better management practices to be applied to similar topography.  In 1989, the Middle Missouri NRD and the Papio NRD were merged into one, becoming the Papio-Missouri River NRD which resulted in the current 23-NRD system.

“Nebraska’s 23 NRDs have been addressing natural resources issues and concerns with local solutions for 45 years,” said Mike Sousek, General Manager of the Lower Elkhorn Natural Resources District (LENRD) in Norfolk.

Nebraska's NRDs are involved in a wide variety of projects and programs to conserve and protect the state's natural resources.  Sousek added, “NRDs are charged under state law with 12 areas of responsibility including flood control, soil erosion, and groundwater management.  While all NRDs share the 12 main responsibilities, each district sets its own priorities and develops programs to best serve local needs and to protect Nebraska’s natural resources for future generations.”



IOWA LIEUTENANT GOVERNOR TO SPEAK AT ANIMAL HEALTH IN THE HEARTLAND: ENSURING A SAFE FOOD SUPPLY SYMPOSIUM

Bio Nebraska Executive Director Phil Kozera and Iowa Biotechnology Association (IowaBio) Executive Director Joe Hrdlicka announced today new Iowa Lt. Governor Adam Gregg will be a speaker at its animal health symposium scheduled for Tuesday, July 18th and Wednesday, July 19th in Ames that will focus on the biotech industry’s role in mitigating animal health emergencies. Gregg will speak at approximately 8 a.m. on the 19th.

Kozera and Hrdlicka said they are again pleased to have Lt. Governor Gregg and commitments from some of the nation’s foremost research and regulatory experts to lead the discussion on preventing past and future emergency outbreaks. The event kicks off with a 2 p.m. to 4:30 p.m. facility tour and a 5 to 7 p.m. networking reception on Tuesday, July 18th. The main symposium is scheduled from 8 a.m. to 4:45 p.m. on Wednesday, July 19th. Tuesday’s facility tour will be located at the USDA National Centers for Animal Health in Ames with the networking reception following at Olde Main Brewing Co. Wednesday’s events will feature presentations and panel discussions at the Scheman Building on the Iowa State University campus.

Dr. John Schleifer, DVM, MS, DACPV, Staff Veterinarian with Rembrandt Inc. is scheduled to lead off the industry discussion on Wednesday followed by a list of leading animal health experts addressing critical topics to livestock producers and animal health professionals in government, academia and industry (See full agenda at website listed below).

Those interested in attending this event may register by clicking this link: www.iowabio.org/animalhealth.

Recent outbreaks of Avian Influenza (AIV) and Porcine Epidemic Diarrhea Virus (PEDV) have had serious consequences in the Heartland region, impacting animal health, human health, animal producers, the encompassing agriculture industry, and the overall economy both domestic and abroad, Kozera and Hrdlicka said. They indicated the impact of these recent outbreaks inspired the symposium.

“These were not the first diseases emerging in the region, and will certainly not be the last, Hrdlicka said. “In our discussion with industry and regulatory experts, we believe it’s critical to open the dialogue to minimize impact from future events.”   Kozera said our regions’ leadership in animal production dictates a need for an ongoing conversation on practices designed to quickly respond to outbreaks. “We have seen first-hand the significant dangers these diseases pose for the economies of Midwest states like Nebraska and Iowa,” he said. “It is critical that animal health professionals, producers, academia and government leaders collaborate in an effort to minimize future threats.”

Dr. Marcus Kehrli (director of the National Animal Disease Center with the U. S. Dept. of Agriculture-Agricultural Research Service) assisted the organizations coordinating the event. “I’m pleased to work again with these organizations on this event,” he said. “The discussion and collaboration is needed to prepare for these emergencies and raise the level of awareness surrounding the significant impact of these events.”



ICA 2017 Carcass Challenge Winners Announced

Six years ago, the Iowa Cattlemen’s Association developed a program to benefit Iowa cattle producers and friends of the industry. The Carcass Challenge Contest showcases Iowa’s feeder cattle genetics and feedyard performance; offers a fun, competitive statewide contest to demonstrate Iowa’s beef production opportunities and advantages; and raises non-dues revenue, which the ICA then invests in educational events for all sectors of the beef industry.

Educational Opportunities
The 2016-17 Carcass Challenge Contest included a few changes for the program. For starters, the 2016 Young Cattlemen’s Leadership Program (YCLP) class recruited a record setting number of 81 head of steers to be fed at Kennedy Cattle Company of Atlantic. The steers were delivered in early November and marketed in May. Proceeds from the steers help fund YCLP.

Throughout the program, data was gathered to be used for educational purposes. Bi-weekly email communications with sponsors and donors provided updates on the steers and educational information on the data collected.

David Trowbridge and Faye French with Gregory Feedlots, along with Matt Groves with the Tri-County Steer Carcass Futurity Coop, played a major role in developing advanced educational materials. New charts and graphs were created to display the data that was collected and showcase different performance traits, offering an opportunity to “see” the steers’ performance on paper. Program participants were able to see how genetics and pre-contest environment affected the cattle.

In early February, ICA and Kennedy Cattle Company hosted an open house at the feedlot for everyone involved with the program. By that point in time, the steers had been on feed for three months, weighed twice, ultrasounded twice by Isaiah Shnurman, interpreted by Mark Henry with The Cup Lab and reimplanted. The group was presented with educational charts and graphs and given the opportunity to visit with Trowbridge and Groves and discuss the information as a group. Zak and Mitch Kennedy also shared their philosophy on feeding and handling cattle.

Winners Announced
On June 1st, ICA hosted the Sixth Annual Carcass Challenge Banquet at the Iowa State University Alumni Center in Ames.  The audience was presented with Mallorie Wilken, Ph. D. with Elanco Animal Health on the benefits of using modern technology to advance their cattle’s performance in the feedlot. The keynote speaker of the evening was Bob Fields with Global Protein Solutions. Bob presented very positive and thought provoking information to the group of Iowa cattle producers and friends of the industry. Much was taken away from Bob’s presentation on cattle marketing, domestic and international trade and bringing back full-circle to the end consumer from a retailer’s point of view.

Awards were presented to the Top 10% of the number of steers in the contest based off the contest performance and carcass data that was taken at harvest on May 2nd at the Tyson Plant in Dakota City, SD. The main award is for Retail Value per Day on Feed (RVDoF). The RVDoF is a measurement of profitability and a value-added calculation that consider important consumer quality issues such as tenderness and flavor. Additional awards given in the contest were for the Highest Average Daily Gain, Largest Ribeye Area, Highest Marbling Score and the Chef Award, which recognizes a 12-14 inch ribeye with the highest marbling score. The winners all received an engraved rawhide banner and cash or merchandise award. The top winning steer donors were award a check for $5,000, which this year’s winners have graciously donated back to the ICA.

The 2017 winner of the Carcass Challenge Contest in the RVDoF went to John Wessels with Pine View Angus of Colesburg and Mike Cline with Har-Mar Farms of Elgin. In second place, the award went to Rex Hoppes and Mike Henderson with Advanced Beef Genetics of Anita. The third place winner was Brian McCulloh with Woodhill Farms of Viroqua, WI. In fourth place was JD Morris of Algona and the Kossuth County Cattlemen and fifth place was Carl Bormann of Bancroft, also sponsored by the Kossuth County Cattlemen. Jim Bradford and the Guthrie County Cattlemen took home the sixth place award. The Jones, Delaware & Dubuque County Cattlemen steer raised by Jason Kurt walked away with the seventh place winnings. And in eighth place, the award went to Brad Balsley of Floyd and Bob Noble of Riceville.

The winners of the individual categories were Pine View Angus and Har-Mar Farms for the Chef’s Award and the Highest Marbling Score of MDAB07, the highest marbling score ever held in the history of the contest. The winner of the Largest Ribeye went to Advanced Beef Genetics with a 17.1 inch ribeye area. Advanced Beef Genetics also took home the award for the Highest Average Daily Gain of 5.20 pounds per day.

Young Cattlemen Begin Recruiting Efforts
The Carcass Challenge provides the Young Cattlemen’s Leadership Program (YCLP) with not only funding, but a team project to encourage leadership skills. YCLP class members recruit steers and donors for the program, and proceeds from the sale of the steers funds the next class of YCLP participants.

The ICA would to thank the sponsors, donors and everyone involved with the program. We are already making plans for the next Carcass Challenge Contest. The deadline for registering a spring 2017 steer for the contest is October 6th. Details and entry requirements can be found on the ICA website www.iacattlemen.org under the ICA Programs tab. The 2017 YCLP class will soon be working on recruiting steer donors for the contest, but anyone interested in participating in the program can call the ICA office at 515.296.2266 to get involved.



Some Retail Fertilizer Prices Have Barely Budged So Far in 2017

Retail fertilizer prices continued to show little movement in either direction the third week of June 2017, according to fertilizer retailers surveyed by DTN. A look at data collected by DTN so far this year shows prices for some fertilizers have barely budged since the beginning of the year.

Of the eight major fertilizers, prices for all but one were slightly lower compared to a month prior. DAP had an average price of $436 per ton, MAP $470/ton, urea $333/ton, 10-34-0 $435/ton, anhydrous $497/ton, UAN28 $243/ton and UAN32 $273/ton.

The remaining fertilizer, potash, was just slightly higher compared to the previous month. Potash had an average price of $340 per ton the third week of June 2017.

On a price per pound of nitrogen basis, the average urea price was at $0.36/lb.N, anhydrous $0.30/lb.N, UAN28 $0.43/lb.N and UAN32 $0.43/lb.N.

Though prices for some fertilizers have inched higher since the beginning of the year, prices for all retail fertilizers are still lower compared to a year earlier. Three of the eight major fertilizers are still double-digits lower.

10-34-0 is 22% lower from a year ago while anhydrous is 12% less expensive and UAN32 is 10% lower. Both UAN32 and urea are down 9%, DAP is 7% less expensive and both MAP and potash are both 5% lower.



U.S. ethanol production capacity continues to increase

Fuel ethanol production capacity in the United States reached 15.5 billion gallons per year, or 1.01 million barrels per day (b/d), at the beginning of 2017, according to EIA's most recent U.S. Fuel Ethanol Plant Production Capacity report. Total capacity of operable ethanol plants increased by about 4%—or by more than 600 million gallons per year—between January 2016 and January 2017.

Most of the 198 ethanol plants in the United States, representing most of the U.S. fuel ethanol production capacity, are located in the Midwest region (as defined by Petroleum Administration for Defense District, or PADD, 2). Total nameplate capacity in the Midwest was 14.0 billion gallons per year at the beginning of 2017 (918,000 b/d), an increase of about 4%—or by more than 530 million gallons per year—between January 2016 and January 2017.

Nameplate production capacity, the measure of capacity that EIA tracks, is the plant manufacturer's stated design capacity to produce fuel ethanol during a 12-month period. Of the top 13 fuel ethanol-producing states, 12 are located in the Midwest. The top three states—Iowa, Nebraska, and Illinois—contain more than half of the nation’s total ethanol production capacity.

Actual U.S. production of fuel ethanol reached a total of 14.8 billion gallons (965,000 b/d) in 2016. In EIA's June Short-Term Energy Outlook (STEO), U.S. production of fuel ethanol was forecast to reach 15.8 billion gallons (1.03 million b/d) in 2017, equivalent to slightly more than 100% utilization of reported nameplate capacity as of January 1, 2017.



Ag Industry Urges Trump to Appoint Full USDA Leadership Team

As President Donald Trump approaches the 200-day mark of his administration, more than a dozen prominent agriculture organizations are urging him to move quickly to fill vacancies within the U.S. Department of Agriculture (USDA).

“With a struggling rural economy—which has seen a 55 percent decrease in income over the last three years—we need leaders and decision makers in place to serve farmers, ranchers and consumers,” reads a letter sent to the White House today by the National Corn Growers Association and 16 other agricultural groups.

The organizations praised the selection of Sonny Perdue to lead USDA, but noted that the agency has more than 100,000 employees and needs a full leadership team.

“The absence of high-ranking officials at USDA puts our farmers and ranchers at a disadvantage. It is impossible to pilot such a large and complex agency without a team of powerful and talented people at the helm,” the letter reads.

“Secretary Perdue is an outstanding leader, but USDA is too large and too important to be a one-man show,” said NCGA President Wesley Spurlock. “It’s time to get a full leadership team in place.”



NAWG Joins Ag Industry Groups in Urging the Administration to Appoint USDA Leadership Team

Today, the National Association of Wheat Growers joined more than a dozen other prominent agriculture organizations calling on President Donald Trump to quickly to fill vacancies within the U.S. Department of Agriculture (USDA).

NAWG CEO Chandler Goule made the following statement:

“Farmers have had to deal with a rapidly declining market, and months and years of sustained low prices means rural America is struggling. We need, now more than ever, strong leadership at the USDA to continue effectively implementing key Farm Bill programs that will help bring producers out of these tough economic times.

“We commend President Trump for nominating Sonny Perdue to Secretary of USDA but now it is time to get his top policy advisors in place. From promoting agriculture production to keeping our food supply safe, the USDA’s role and responsibilities are vast and complex and require more than one Senate-confirmed official at the Department.

“NAWG encourages the Administration to quickly fill leadership vacancies within the USDA especially as we head into the reauthorization of the 2018 Farm Bill.”



Ag Equipment and Machinery Depreciation Act Being Proposed

U.S. Senator Pat Roberts (R-Kan.) has joined Sens. Amy Klobuchar (D-Minn.) and Jon Tester (D-Mont.) to introduce the bipartisan Agriculture Equipment and Machinery Depreciation Act to help farmers purchase new equipment and replace worn-out machinery by amending the U.S. tax code to permanently set a five-year depreciation schedule for certain agricultural equipment. The current tax code sets a seven-year depreciation cost recovery period for agricultural equipment.

Changing the depreciation schedule for agricultural equipment to five years would make the tax code more consistent and support rural development by aligning the length of time that farmers can take a depreciation deduction with the average useful life of that property.

"This commonsense legislation will give farmers and ranchers the certainty they need to invest in new, more modern equipment so they can create more jobs and growth in our communities," said Roberts, Chairman of the Senate Agriculture Committee. "A five year depreciation schedule allows for predictability and fairness in our overly complex tax code, giving the agriculture community the ability to produce more efficiently and at a lower cost."

Under the tax code, taxpayers are allowed a depreciation deduction to allow them to recover the costs of investing in certain property, like farm machinery and farm-use motor vehicles. The recovery period for the deduction should match the useful life and financing of that property.

According to surveys from the Farm Service Agency, on average farmers and ranchers finance farm equipment and machinery for five years.



NGFA, grain/oilseed value chain partners urge USDA to drop proposed biotech regulatory changes

The National Grain and Feed Association (NGFA), in a joint statement submitted recently with four other agribusiness associations representing the grain and oilseed value chain, urged the U.S. Department of Agriculture's Animal and Plant Health Inspection Service (APHIS) to withdraw its proposed regulations governing the importation, interstate movement and environmental release of certain genetically engineered organisms.

APHIS requested comments on its proposed so-called "Part 340" regulatory revisions, which among other things would eliminate the notification process for certain genetically engineered organisms in favor of an affirmative permitting scheme.

The NGFA, Corn Refiners Association, National Oilseed Processors Association, North American Export Grain Association and North American Millers' Association said the APHIS proposal was "premature" since governmental authorities in important U.S. export markets have not been consulted adequately yet nor signaled acceptance of the agency's proposed new regulatory approach. A failure to obtain such acceptance could result in significant disruptions in trade of U.S. agricultural commodities and processed products, the NGFA and the other groups warned. They urged the agency to withdraw the proposed changes and instead turn its focus to engaging with international governments to build a better understanding and acceptance of the reasons the agency is seeking to modify its regulatory oversight.

"Above all else, APHIS needs to 'do no harm' by avoiding prematurely implementing a regulatory approach under its Part 340 rules with respect to advancements in genetic engineering technology that puts U.S. grain and agri-bulk exports at risk," the NGFA and the other organizations said. "APHIS should not be working at cross-purposes to undercut the administration's focus on trade and exports."

The NGFA and the same grain- and oilseed-based agribusiness organizations also submitted a joint statement in response to the Food and Drug Administration's (FDA) request for comments on the use of genome-editing techniques to produce new plant varieties intended for use in human and/or animal food.

The organizations recommended that FDA require notification from plant breeders that develop and intend to commercialize plant genome-editing techniques. This would enable the agency to be informed about the kinds of traits being developed so it can determine whether to advise seed developers to consult with the agency on any food safety or labeling-related issues prior to commercialization of such gene-edited crops.

"In the absence of a notification requirement, FDA's awareness about the presence of foods developed through various plant-breeding techniques in other countries or regions of the world would be limited severely," the statement said.



Waters of the U.S. Withdrawal a Step Toward Regulatory Certainty for Soybean Farmers

With an announcement yesterday from the U.S. Environmental Protection Agency (EPA) that it would formally repeal the Waters of the United States rule, the American Soybean Association (ASA) hailed what it called a significant step toward greater regulatory certainty for soybean farmers. ASA released the following statement from Vice President and Iowa farmer John Heisdorffer on EPA’s withdrawal of the rule:

“Soybean farmers have been watching the Waters of the U.S. rule since its unveiling in 2015 as an unfortunate example of the positive goal of clean water obstructed by unworkable and impractical federal regulation. Farmers cannot operate without clean water, and each of us takes his or her role as a steward of that resource very seriously. The WOTUS rule, however, subjected the creeks and streams and ditches that crisscross our operations under an overly broad, one-size-fits-all regulatory definition that made no sense for our individual farms. We are happy to see the rule withdrawn, and the action this week from EPA is a significant step toward greater regulatory certainty for soybean farmers. We look forward to sitting down with Administrator Pruitt and his team at EPA to help build a practical and workable plan to safeguard water quality in our nation’s growing regions.”



Syngenta teams up with RFD-TV for a second season of “FarmHer”

Syngenta U.S. announced that it will return as the presenting sponsor of “FarmHer on RFD-TV” for a second consecutive season, which starts this fall.

“We are proud to continue our support of the FarmHer movement,” said Wendell Calhoun, communications manager at Syngenta. “The television show is a great way to showcase some of the amazing women in our company and industry and the impact they make every day to shape agriculture and our world. The first season was a resounding success, and we’re looking forward to what the team has to offer for season two.”

During the show’s inaugural season, viewers had the opportunity to meet women from across the country who contribute to agriculture in invaluable ways. Marji Guyler-Alaniz, the show’s host and founder of the FarmHer movement, visited more than 43 farms, ranches and agricultural labs. Through photography, video and interviews, she gave viewers a glimpse into the lives of some of the women who make up more than 30 percent of the farming workforce.

Guyler-Alaniz and her team have already begun traveling the country from coast to coast, visiting FarmHers to be featured in season two.

“The diversity of operations and the women who are an integral part of them will continue to expand,” Guyler-Alaniz said. “We’ll take viewers inside a working ranch, then to a whitetail deer farm. We’ll travel from the green mountains and grapes of northern California to Florida, where we’ll visit an almost 90-year-old rancher. In Iowa, we’ll experience a large herd of wild horses and a small greenhouse operation. I can’t wait to continue our FarmHer journey with the RFD-TV audience in season two.”

The Syngenta #RootedinAg Spotlight segment will also be returning in season two with a focus on the women who have inspired others to follow their dreams.

“FarmHer on RFD-TV” returns September 8, with episode premieres airing Fridays at 9:30 p.m. Eastern time. For more information, please visit RFDTV.com. Viewers should check their local listings to find RFD-TV in their area. For more information about the Syngenta sponsorship and to see #RootedinAg Spotlights from season one, please visit www.syngentathrive.com.



Soybeans Help Boost Monsanto Co.'s Quarterly Profit

Higher soybean plantings in the U.S. this spring boosted biotech seed giant Monsanto Co.'s quarterly profit, despite the broader slump in agricultural commodity prices.

Farmers this year have dedicated more acres to soybeans after a string of record-breaking harvests have eroded the price of widely grown crops like corn and wheat. Soybean prices had fared better due to strong demand from China and elsewhere, though prices have declined as farmers ramped up planting. Heavy rain this spring also forced some farmers to switch some corn fields to soybeans, which typically can be planted later.

That trend coincided with Monsanto's introduction of new soybean varieties that are genetically engineered to resist a more powerful combination of herbicides. About 20 million U.S. acres were sown with the new seeds, executives said Wednesday.

"For soybeans, the momentum continues to be tremendous," Monsanto President Brett Begemann said, as the St. Louis-based company reported better-than-expected profit for the period.

Chief Executive Hugh Grant said Monsanto's sale to German chemical conglomerate Bayer AG was progressing through antitrust reviews around the world. The $57 billion deal to create the world's largest supplier of pesticides, seeds and crop genes is expected to close this year, he said.

Some jurisdictions already have cleared the deal. South Africa required Bayer to sell a herbicide and crop gene franchise that competes with Monsanto's "Roundup Ready" suite of crops and weed killers as a condition of the deal.

A 29% increase in quarterly sales for soybean seeds and crop genes prompted Monsanto on Wednesday to maintain its forecast earnings of $4.09 to $4.55 a share for its fiscal year, which wraps up Aug. 31. Shares climbed 0.9% to $118.36.

Monsanto's new soybean variety, engineered to resist the herbicide dicamba as well as glyphosate, has also been linked to crop damage across some portions of the southern U.S. A growing number of farmers in Arkansas, Missouri, Mississippi and Tennessee have reported crop damage allegedly caused by dicamba drifting from neighboring fields. Some farmers have sued Monsanto.

The company has said it advises farmers on how to use the spray safely and will fight the lawsuits.

For the quarter Monsanto reported income of $843 million, or $1.90 a share, up from $717 million, or $1.63 a share, a year ago. Revenue from seeds and genomics, Monsanto's biggest business, fell 2.3% to $3.1 billion despite strong results from the soybean seed segment.