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Monsanto Reconfirms 2010 Guidance and 2012 Financial Commitments on Strength of Larger Expected Launches for Blockbuster Products
Date:11/10/2009

ST. LOUIS, Nov. 10, 2009 /PRNewswire-FirstCall/ -- The positive mix lift expected as farmers choose to upgrade to next-generation technologies allows Monsanto Company (NYSE: MON) to reconfirm its commitment to double its 2007 gross profit in 2012, Monsanto President and CEO Hugh Grant will tell investors today. Speaking at the company's biennial investor day, Grant will indicate that accelerated launches for its Genuity(TM) SmartStax(TM) corn and Genuity(TM) Roundup Ready 2 Yield® soybean products, along with accelerated trait penetration in Latin America, create the opportunity and set the priorities as the company's management outlines the operational plans to meet its 2012 financial and commercial targets.

Monsanto's management team will also indicate the company remains on track to meet its fiscal-year 2010 guidance targets.

"Our growth strategy from 2010 through 2012 boils down to three operational imperatives: the conversion to Genuity SmartStax in U.S. corn, the farmer choice of upgrading to the Genuity Roundup Ready 2 Yield platform in U.S. soybeans, and the opportunity as Latin America increases its technology adoption," said Grant. "We are positioned as an agricultural technology company that can consistently deliver innovation on farm every year, and our R&D prowess makes it possible for us to deliver the positive mix lift across our product offerings. This creates real value for farmer customers that will in turn strengthen their businesses."

As part of the event, Grant and Monsanto's executive team will outline the operational plans and expectations for these three key factors. Specifically, the company expects:

  • A larger-than-expected launch of Genuity SmartStax, with initial commercial opportunity of more than 4 million acres in 2010, an increase over the previously announced 3 mi
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SOURCE Monsanto Company
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