Monsanto plummets on tough outlook for seeds, weed killer

WASHINGTON (AP) — Shares of agricultural business giant Monsanto plummeted Wednesday after the maker of biotech seeds slashed its 2016 guidance due to worse-than-expected sales expectations for its products.

A combination of headwinds, including pricing pressures and negative currency rates, is "proving to be even more challenging," than the company estimated, Monsanto chief financial officer Pierre Courduroux, said in a statement.