Execution is Key in Legwork Year for Monsanto; Company Focuses on Continuing to Earn On-Farm Trial of New Products

ST. LOUIS, Feb. 10, 2010 /PRNewswire-FirstCall/ -- This is a year when execution is critical, Monsanto Company's (NYSE: MON) Brett Begemann will tell investors today at the Goldman Sachs 14th Annual Agricultural Biotech Forum.  In this important year of execution, Begemann will say the company is tracking well against its financial targets and will affirm its full-year earnings per share guidance.

In his role as executive vice president of Seeds & Traits, Begemann leads the team charged with selling seeds to farmers – including Genuity™ SmartStax™ corn and Genuity™ Roundup Ready 2 Yield® soybeans, which launch broadly this year.  With the North American growing season approaching, he'll say Monsanto remains focused on securing on-farm adoption and continued trial opportunities for its new corn and soybean products.

"When we set out our goals for 2012, we knew 2010 would be a legwork year for us," Begemann will say.  "It sets the foundation for our longer-term commercial opportunity. We're launching two new products on nearly double the largest-acre historic introductions, so it's a year of hard-earned sales.  This team is committed to the effort to win each sale and demonstrate the value of these products farmer by farmer."

Begemann will say market research completed in the last week indicates that as a result of the late 2009 harvest, the 2010 selling season is still underway.  Despite that later-than-usual season, Begemann will indicate Monsanto's aggregate order book continues to point to good overall performance in the U.S. operations in this year of execution.

"What we're seeing is that there are still undeclared acres for corn and soybeans, and we are aggressively working to win that business," Begemann will say.  "We're coming off of a perfect year for growing, with adequate moisture and low stress, which resulted in unprecedented crop yields.  Farmers saw triple stacks deliver last year and are taking a critical look at their choices for the year ahead."

In particular, the company is still targeting its previously stated acreage for Genuity™ SmartStax™ and Genuity™ Roundup Ready 2 Yield®.  For Genuity™ Roundup Ready 2 Yield® soybeans, 2010 will be the first year of widespread product availability and the company is focused on expanding the base of farmers who planted the product last year.

For Genuity™ SmartStax™ corn, Monsanto is focused on selling its first-year offerings to early adopters and farmers who are interested in upgrading from triple stack corn, Begemann will say.  

Begemann also will discuss the outlook for the Latin American corn market, which is a key growth driver for the company, and will say Monsanto is seeing strong farmer adoption in Argentina and Brazil.  

Looking at other areas of the company, Begemann will discuss the exceptional performance of Class of '09 and Class of '10 cotton germplasm in the United States, where Monsanto is seeing strong order patterns in key cotton growing markets.  The company also is showing positive gains in its vegetable business, where it continues to show the benefits of germplasm upgrades.

Begemann also will affirm the company's full-year 2010 ongoing EPS guidance is in the range of $3.10 to $3.30. Monsanto's full-year 2010 EPS guidance on an as-reported basis is in the range of $2.85 to $3.11. (For a reconciliation of 2010 EPS, see note 1.) 

A live webcast of Begemann's presentation is available through Monsanto's web site at: http://www.monsanto.com/investors.  Following today's live broadcast set for 9:10 a.m. C.T., a replay of the webcast will be available on the Monsanto web site for three weeks. To access presentation slides and the simultaneous audio webcast of the presentation, visitors may need to download Windows Media Player™ prior to listening to the webcast.

About Monsanto Company

Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com . Follow our business on Twitter® at www.twitter.com/MonsantoCo  on Facebook® at www.facebook.com/MonsantoCo, or subscribe to our News Release RSS Feed .

Cautionary Statements Regarding Forward-Looking Information:

Certain statements contained in this release are "forward-looking statements," such as statements concerning the company's anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company's actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company's research and development activities; the outcomes of major lawsuits; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the company's ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company's facilities; and other risks and factors detailed in the company's most recent reports on Forms 10-Q and 10-K. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.

1.  Reconciliation of EPS to Ongoing EPS:  The presentation of ongoing EPS is not intended to replace net income (loss), cash flows, financial position or comprehensive income (loss), and is not a measure of financial performance as determined in accordance with generally accepted accounting principles (GAAP) in the United States.  The following table reconciles ongoing EPS to the respective most directly comparable financial measure calculated in accordance with GAAP.

Ongoing EPS is calculated excluding certain after-tax items which Monsanto does not consider part of ongoing operations.

Contact Media:  Kelli Powers (314-694-4003)

SOURCE Monsanto Company