* Shares rise on improved outlook, stronger profit
* Company cites Latin American sales, U.S. seed orders
* Ongoing EPS of 62 cents, above 37 cents analysts expected
Jan 8 (Reuters) – Monsanto Co, the world’s largest seed company, said on Tuesday that expansion efforts in Latin America are paying off, adding to the company’s strength in the U.S. market and helping it capture surprisingly strong profits.
Monsanto has been pushing for deeper penetration of its corn seed products in Latin America and said it was seeing good progress on upgrading offerings in Brazil and Argentina. In particular, sales of corn engineered both to tolerate weed-killing treatments and to protect the plant from pests are expanding rapidly in both countries, the company said.