Monsanto Corp. (MON) Opens 6% Lower on Disappointing Outlook

Monsanto Corp. (NYSE: MON) announced today that its operating earnings estimate for 2010 would be $3.10 - $3.30/share; analysts had forecast $4.29/share. This represents a large surprise to the downside.

This combined with overall cautious remarks by the company and an announcement of further job cuts set a morose mood.

Monsanto is down 6.3% in early trading on much higher than normal volume.