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| Seed research is hugely expensive without a doubt. $260-$300/unit corn is also hugely profitable. The large international companies consider the US seed market to be "mature" and they are looking to places like China and Brazil as the new frontier that offers higher margins and bigger ROI. These companies have been cutting money from the US based research effort and plowing it into large expansions elsewhere. I know its the way large corps manage finances these days but it's a shame to see them earn profits from us and then invest the money with our competitors.
Going into this tough stretch of $3.50 corn they probably wish they had a few 100 million of that back. | |
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What did M and P do with the profit?
