1) The document discusses Carl Casale's presentation at the 19th Annual Chemical Conference on September 20, 2006.
2) It provides an overview of increasing global demand for grain and how this is leading to fundamental shifts favoring corn and soybean production in the US.
3) The presentation outlines how farmers' seed purchasing decisions are driven by maximizing yield potential through high-performing seeds and crop protection traits.
The document discusses Hugh Grant's presentation at the Sanford Bernstein Strategic Decisions Conference on May 28, 2008. It includes forward-looking statements about Monsanto's financial projections and products, along with risks and uncertainties. The presentation then provides an overview of changing global supply and demand dynamics in agriculture and opportunities to optimize corn yields around the world.
Farmers purchase seeds from multiple brands and dealers to diversify their risk. They typically plant 3-4 brands and 5-8 varieties of corn, with 60% selecting germplasm first before choosing biotech traits. Purchases are made from 2-3 dealers in November and December. 38% of the corn is the latest top-yielding hybrids, with the goal of maximizing yield while minimizing risk through genetic diversity.
Brett Begemann is the Executive Vice President of Global Commercial at Monsanto. This document provides an overview of:
1) Changing global market forces are increasing demand for feed and fuel, stretching global supply and requiring increased productivity per acre.
2) Monsanto is on track to double gross profit by 2012 through the rollout of new product drivers in corn, cotton, soybeans, and its pipeline.
3) In the U.S., DEKALB and ASI corn shares are expected to increase in 2008, positioning Monsanto for further growth through 2012.
Major constraints of wheat production in Africa - A case study of ZambiaCIMMYT
1. Wheat production in Zambia faces major constraints including high production costs, lack of suitable wheat varieties for rainfed areas, price variations, poor infrastructure, and high interest rates on agriculture loans.
2. A study identified the highest challenge as the high cost of wheat production in Zambia, which makes wheat uncompetitive on the international market. Other challenges included limited access to markets and disease-resistant varieties for rainfed conditions.
3. The study recommends measures like reducing taxes on wheat products and equipment, improving infrastructure like roads and storage, increasing funding for research and extension, and lowering interest rates to improve the viability of wheat production in Zambia.
This document provides an overview of Monsanto's strategy and financial performance. It discusses how Monsanto is positioned for growth through 2022 by focusing on innovation and expanding its seed and trait portfolio globally. Key points include:
- Monsanto has grown its gross profit and ongoing EPS significantly from 2004-2008 through its seeds and genomics segment, driven by innovative solutions and seed share gains.
- Its seed base and portfolio of patented traits have created unmatched capabilities in major crops like corn, soybeans, and cotton.
- Brands like DEKALB and ASI are gaining share in corn as investment in breeding delivers yield advantages over competitors.
- Triple-stack corn trait penetration exceeded expectations in 2008
1) Monsanto's strategy is to double crop yields by 2030 through innovation to meet growing global demand.
2) Monsanto aims to more than double its seeds and traits platform gross profit by 2012 by focusing on corn, soybean, and cotton seeds and traits.
3) Monsanto's growth strategy has two steps - first establish seed footprint through breeding, then layer on additional value through biotech traits.
The document discusses Monsanto's R&D pipeline and future product opportunities. Key points include: 1) Development of a drought tolerant corn product that has shown yield improvements of up to 12 bushels per acre in water stressed conditions. 2) The drought tolerant corn is currently in field testing and represents a large market opportunity in the U.S., Brazil, Argentina, and Europe. 3) Monsanto's pipeline also includes new biotech traits for soybeans and cotton that could lead to 3-trait stacks by the mid to late next decade.
- Global trends are changing supply and demand patterns for agriculture worldwide, creating a new dynamic. Growing wealth and populations in Asia are leading to new demands that favor the US as a low-cost corn producer.
- Increasing protein demand over the next decade is expected, as wealth drives increased meat consumption globally. This disproportionately increases demand for grain, with estimates of pounds of grain needed per pound of beef, pork, or chicken produced.
- Emerging countries like China and Brazil are reaching domestic production limits, driving changes in global export markets and advantages for countries like the US, Argentina, and Brazil based on land availability and geographic proximity.
The document discusses Hugh Grant's presentation at the Sanford Bernstein Strategic Decisions Conference on May 28, 2008. It includes forward-looking statements about Monsanto's financial projections and products, along with risks and uncertainties. The presentation then provides an overview of changing global supply and demand dynamics in agriculture and opportunities to optimize corn yields around the world.
Farmers purchase seeds from multiple brands and dealers to diversify their risk. They typically plant 3-4 brands and 5-8 varieties of corn, with 60% selecting germplasm first before choosing biotech traits. Purchases are made from 2-3 dealers in November and December. 38% of the corn is the latest top-yielding hybrids, with the goal of maximizing yield while minimizing risk through genetic diversity.
Brett Begemann is the Executive Vice President of Global Commercial at Monsanto. This document provides an overview of:
1) Changing global market forces are increasing demand for feed and fuel, stretching global supply and requiring increased productivity per acre.
2) Monsanto is on track to double gross profit by 2012 through the rollout of new product drivers in corn, cotton, soybeans, and its pipeline.
3) In the U.S., DEKALB and ASI corn shares are expected to increase in 2008, positioning Monsanto for further growth through 2012.
Major constraints of wheat production in Africa - A case study of ZambiaCIMMYT
1. Wheat production in Zambia faces major constraints including high production costs, lack of suitable wheat varieties for rainfed areas, price variations, poor infrastructure, and high interest rates on agriculture loans.
2. A study identified the highest challenge as the high cost of wheat production in Zambia, which makes wheat uncompetitive on the international market. Other challenges included limited access to markets and disease-resistant varieties for rainfed conditions.
3. The study recommends measures like reducing taxes on wheat products and equipment, improving infrastructure like roads and storage, increasing funding for research and extension, and lowering interest rates to improve the viability of wheat production in Zambia.
This document provides an overview of Monsanto's strategy and financial performance. It discusses how Monsanto is positioned for growth through 2022 by focusing on innovation and expanding its seed and trait portfolio globally. Key points include:
- Monsanto has grown its gross profit and ongoing EPS significantly from 2004-2008 through its seeds and genomics segment, driven by innovative solutions and seed share gains.
- Its seed base and portfolio of patented traits have created unmatched capabilities in major crops like corn, soybeans, and cotton.
- Brands like DEKALB and ASI are gaining share in corn as investment in breeding delivers yield advantages over competitors.
- Triple-stack corn trait penetration exceeded expectations in 2008
1) Monsanto's strategy is to double crop yields by 2030 through innovation to meet growing global demand.
2) Monsanto aims to more than double its seeds and traits platform gross profit by 2012 by focusing on corn, soybean, and cotton seeds and traits.
3) Monsanto's growth strategy has two steps - first establish seed footprint through breeding, then layer on additional value through biotech traits.
The document discusses Monsanto's R&D pipeline and future product opportunities. Key points include: 1) Development of a drought tolerant corn product that has shown yield improvements of up to 12 bushels per acre in water stressed conditions. 2) The drought tolerant corn is currently in field testing and represents a large market opportunity in the U.S., Brazil, Argentina, and Europe. 3) Monsanto's pipeline also includes new biotech traits for soybeans and cotton that could lead to 3-trait stacks by the mid to late next decade.
- Global trends are changing supply and demand patterns for agriculture worldwide, creating a new dynamic. Growing wealth and populations in Asia are leading to new demands that favor the US as a low-cost corn producer.
- Increasing protein demand over the next decade is expected, as wealth drives increased meat consumption globally. This disproportionately increases demand for grain, with estimates of pounds of grain needed per pound of beef, pork, or chicken produced.
- Emerging countries like China and Brazil are reaching domestic production limits, driving changes in global export markets and advantages for countries like the US, Argentina, and Brazil based on land availability and geographic proximity.
The document discusses emerging macro trends in global agricultural production over the next decade for corn, soybeans, and cotton. It outlines how Monsanto is well positioned to capitalize on opportunities presented by these trends through solutions like nitrogen-utilization corn, drought-tolerant traits, and an improved-oils soybean platform. The summary also provides Monsanto's international growth priorities and outlook for 2010 in key areas like increasing Roundup Ready soybean penetration in Brazil and expanding cotton traits in India and Argentina.
This document provides a summary of results for JBS S.A. for 2012 and the fourth quarter of 2012. It includes the following key points in 3 sentences:
JBS reported consolidated net revenue of R$75.7 billion for 2012, a 22.5% increase over 2011, with EBITDA of R$4.4 billion, a 40% increase over 2011. For the fourth quarter of 2012, JBS reported net revenue of R$21.9 billion, a 29% increase over the same period in 2011, with EBITDA of R$1.17 billion, a 26% increase over 4Q11. Leverage decreased to 3.4x at the end of 2012 from 4
Monsanto announced the acquisition of Seminis, a leading global vegetable and fruit seed company, for $1.4 billion plus a performance-based payment of up to $125 million. The acquisition supports Monsanto's strategy of shifting from crop chemicals to seeds and traits. It provides Monsanto with a ready-made leading position in the high-growth vegetable seed segment. The deal is expected to be accretive to earnings and free cash flow in fiscal year 2006 and close in the third quarter of fiscal year 2005 pending regulatory approvals.
The document summarizes projections from the 2011-2020 OECD-FAO Agricultural Outlook report. It finds that global agricultural production and trade will increase over the projection period, driven by population and income growth in developing countries. Commodity prices are projected to remain higher on average than the previous decade. Production growth will concentrate in developing regions like Latin America and Eastern Europe, while trade of many agricultural products like vegetable oils and rice is expected to rise 10-30%.
The document summarizes a presentation on monitoring and evaluation of the Comprehensive Africa Agriculture Development Programme (CAADP) in West Africa. It discusses the transition from the Strategic Analysis and Knowledge Support System (SAKSS) to the Regional Strategic Analysis and Knowledge Support System (ReSAKSS), CAADP's basic targets and principles, ReSAKSS' role in supporting CAADP implementation, modeling of agriculture in the region, the CAADP M&E framework, findings from the first comprehensive CAADP M&E report, and prospects for the future.
This report discusses China's focus on agricultural reforms according to its 2012 Central Policy Document. Ensuring sufficient food production is challenging due to declining arable land, environmental restrictions on fertilizer usage, and increasing demand. The policy aims to boost farming output through technological innovation, irrigation projects, and increased rural lending. Spending on agriculture, rural development, and farmers has grown significantly in recent years and may rise another 20-30% in 2012. Opportunities exist in agricultural machinery, fertilizers, food processing, and rural financing.
Agcapita is Canada's only RRSP and TFSA eligible farmland fund and is part of a family of funds with almost $100 million in assets under management. Agcapita believes farmland is a safe investment, that supply is shrinking and that unprecedented demand for "food, feed and fuel" will continue to move crop prices higher over the long-term. Agcapita created the Farmland Investment Partnership to allow investors to add professionally managed farmland to their portfolios. Agcapita publishes a monthly Agriculture Brief which deals with agriculture specific investment issues along with big picture macro-economic issues.
1) Global agricultural prospects are good with higher average prices, increasing production, and expanding trade expected over the next decade.
2) However, rising production costs due to increasing input prices, greater market and price volatility, and constraints on water and other resources pose challenges.
3) Agricultural productivity growth, which is essential to meeting rising global food demand, is projected to slow compared to the previous decade due to these factors. Governments and policies can help address these issues through investments in innovation, sustainability, and risk management programs.
World prices of cereals, as measured on the benchmark Chicago futures market – were getting incredibly cheap during June – maize edging towards three and wheat to four-year lows under pressure from excessive stocks, uncertain forward demand for feed and expected large world crops. But the picture has changed radically in the last few weeks as those optimistic world wheat crop estimates have started to slide on unexpected weather problems – first in Canada, then Europe itself and latterly in the former Soviet Union, where coarse grain output could take an even bigger hit from droughts and heat-waves.
Mike Bushell - Threats to Food Security and Food Chain Livelihoods from Weeds...Global Risk Forum GRFDavos
Global population growth and changes in diets are increasing demand for food. Weeds, pests and diseases cause major crop losses and threaten food security. Crop protection products have helped increase yields and meet rising demand, but new issues are emerging. Integrated approaches including chemicals, cultural practices and biological controls are needed to sustainably intensify agriculture and ensure adequate, safe and nutritious food supplies.
This document discusses opportunities for increasing global food and agricultural production through investment. It notes that food demand is projected to increase 70% by 2050 due to population and income growth. However, land and water resources are scarce. There are high potential gaps between current production levels and capacity in regions like Latin America, the Black Sea Region, and Africa due to favorable natural conditions. The document promotes increasing agricultural investment to $83 billion annually by 2050, a 50% rise from the past decade's average, to boost output and meet rising demand. It provides examples of IFC investment and advisory programs in Ukraine to improve access to finance, production efficiencies, and supply chain development in the agricultural sector.
Escalating production costs and risks, uncertain premiums, growing workload pressures and attractive feed prices are all serving to undermine the confidence of even the most historically committed of UK milling wheat growers. To such an extent that a fresh industry-wide approach to quality wheat will be essential if sufficient domestic production is to be maintained.
This document discusses lessons learned from country experiences managing trade, grain reserves, and food security. It analyzes how public stocks, international trade, and private sector imports can work complementarily to stabilize domestic food markets using examples from Bangladesh, Pakistan, and Zambia. While public stocks aim to ensure food security, oversized reserves can disrupt markets and incur high storage and opportunity costs. Investing in agricultural productivity through research is an alternative that can boost supplies, incomes, and security.
Wheat production in Malawi has the potential to increase substantially but currently remains well below capacity. Domestic wheat consumption demands 100,000 metric tons annually but only around 5,000 metric tons are produced locally, with the rest imported. Several areas in Malawi have suitable conditions for growing wheat, but production faces constraints including lack of research funding, limited farmer knowledge, and low prices paid by millers. The government aims to boost wheat self-sufficiency through improving seed supply systems, training partners, and promoting irrigation-based production.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to gain corn share in key international markets like Argentina and maintain leadership in Brazil.
The document discusses CIT's business which includes providing financial capital, intellectual capital, and relationship capital to tens of thousands of customers worldwide. It focuses on building long-term relationships through innovative financial solutions and services across multiple industries and geographies. CIT has over 7,300 employees, over a century of experience, and manages over $74 billion in assets to serve its diverse customer base.
The document outlines Monsanto's strategic growth objectives through 2010, with a focus on growing their seeds and traits portfolio. It discusses goals of expanding market share for corn franchises globally and penetrating new markets. Monsanto aims to lead the industry in innovation through research and development investments in breeding and biotechnology. The strategy is expected to translate to significant earnings growth and increasing free cash flow through 2007 as Monsanto establishes leadership in agricultural products.
This document discusses the history and future of agricultural biotechnology. It notes that there have been four agricultural revolutions: domestication of plants, use of farm tools, hybridization and increased yields in the 20th century, and current agricultural biotechnology. The document argues that agricultural biotechnology is still in its early stages, similar to where the computer industry was in the 1950s and 1960s. It identifies three factors - increased penetration and expansion into new acres, stacking of multiple traits into single crops, and second-generation products - that will define future growth in agricultural biotechnology. Finally, it outlines the expanding categories and long-term opportunities for biotechnology applications in agriculture.
The document discusses emerging macro trends in global agricultural production over the next decade for corn, soybeans, and cotton. It outlines how Monsanto is well positioned to capitalize on opportunities presented by these trends through solutions like nitrogen-utilization corn, drought-tolerant traits, and an improved-oils soybean platform. The summary also provides Monsanto's international growth priorities and outlook for 2010 in key areas like increasing Roundup Ready soybean penetration in Brazil and expanding cotton traits in India and Argentina.
This document provides a summary of results for JBS S.A. for 2012 and the fourth quarter of 2012. It includes the following key points in 3 sentences:
JBS reported consolidated net revenue of R$75.7 billion for 2012, a 22.5% increase over 2011, with EBITDA of R$4.4 billion, a 40% increase over 2011. For the fourth quarter of 2012, JBS reported net revenue of R$21.9 billion, a 29% increase over the same period in 2011, with EBITDA of R$1.17 billion, a 26% increase over 4Q11. Leverage decreased to 3.4x at the end of 2012 from 4
Monsanto announced the acquisition of Seminis, a leading global vegetable and fruit seed company, for $1.4 billion plus a performance-based payment of up to $125 million. The acquisition supports Monsanto's strategy of shifting from crop chemicals to seeds and traits. It provides Monsanto with a ready-made leading position in the high-growth vegetable seed segment. The deal is expected to be accretive to earnings and free cash flow in fiscal year 2006 and close in the third quarter of fiscal year 2005 pending regulatory approvals.
The document summarizes projections from the 2011-2020 OECD-FAO Agricultural Outlook report. It finds that global agricultural production and trade will increase over the projection period, driven by population and income growth in developing countries. Commodity prices are projected to remain higher on average than the previous decade. Production growth will concentrate in developing regions like Latin America and Eastern Europe, while trade of many agricultural products like vegetable oils and rice is expected to rise 10-30%.
The document summarizes a presentation on monitoring and evaluation of the Comprehensive Africa Agriculture Development Programme (CAADP) in West Africa. It discusses the transition from the Strategic Analysis and Knowledge Support System (SAKSS) to the Regional Strategic Analysis and Knowledge Support System (ReSAKSS), CAADP's basic targets and principles, ReSAKSS' role in supporting CAADP implementation, modeling of agriculture in the region, the CAADP M&E framework, findings from the first comprehensive CAADP M&E report, and prospects for the future.
This report discusses China's focus on agricultural reforms according to its 2012 Central Policy Document. Ensuring sufficient food production is challenging due to declining arable land, environmental restrictions on fertilizer usage, and increasing demand. The policy aims to boost farming output through technological innovation, irrigation projects, and increased rural lending. Spending on agriculture, rural development, and farmers has grown significantly in recent years and may rise another 20-30% in 2012. Opportunities exist in agricultural machinery, fertilizers, food processing, and rural financing.
Agcapita is Canada's only RRSP and TFSA eligible farmland fund and is part of a family of funds with almost $100 million in assets under management. Agcapita believes farmland is a safe investment, that supply is shrinking and that unprecedented demand for "food, feed and fuel" will continue to move crop prices higher over the long-term. Agcapita created the Farmland Investment Partnership to allow investors to add professionally managed farmland to their portfolios. Agcapita publishes a monthly Agriculture Brief which deals with agriculture specific investment issues along with big picture macro-economic issues.
1) Global agricultural prospects are good with higher average prices, increasing production, and expanding trade expected over the next decade.
2) However, rising production costs due to increasing input prices, greater market and price volatility, and constraints on water and other resources pose challenges.
3) Agricultural productivity growth, which is essential to meeting rising global food demand, is projected to slow compared to the previous decade due to these factors. Governments and policies can help address these issues through investments in innovation, sustainability, and risk management programs.
World prices of cereals, as measured on the benchmark Chicago futures market – were getting incredibly cheap during June – maize edging towards three and wheat to four-year lows under pressure from excessive stocks, uncertain forward demand for feed and expected large world crops. But the picture has changed radically in the last few weeks as those optimistic world wheat crop estimates have started to slide on unexpected weather problems – first in Canada, then Europe itself and latterly in the former Soviet Union, where coarse grain output could take an even bigger hit from droughts and heat-waves.
Mike Bushell - Threats to Food Security and Food Chain Livelihoods from Weeds...Global Risk Forum GRFDavos
Global population growth and changes in diets are increasing demand for food. Weeds, pests and diseases cause major crop losses and threaten food security. Crop protection products have helped increase yields and meet rising demand, but new issues are emerging. Integrated approaches including chemicals, cultural practices and biological controls are needed to sustainably intensify agriculture and ensure adequate, safe and nutritious food supplies.
This document discusses opportunities for increasing global food and agricultural production through investment. It notes that food demand is projected to increase 70% by 2050 due to population and income growth. However, land and water resources are scarce. There are high potential gaps between current production levels and capacity in regions like Latin America, the Black Sea Region, and Africa due to favorable natural conditions. The document promotes increasing agricultural investment to $83 billion annually by 2050, a 50% rise from the past decade's average, to boost output and meet rising demand. It provides examples of IFC investment and advisory programs in Ukraine to improve access to finance, production efficiencies, and supply chain development in the agricultural sector.
Escalating production costs and risks, uncertain premiums, growing workload pressures and attractive feed prices are all serving to undermine the confidence of even the most historically committed of UK milling wheat growers. To such an extent that a fresh industry-wide approach to quality wheat will be essential if sufficient domestic production is to be maintained.
This document discusses lessons learned from country experiences managing trade, grain reserves, and food security. It analyzes how public stocks, international trade, and private sector imports can work complementarily to stabilize domestic food markets using examples from Bangladesh, Pakistan, and Zambia. While public stocks aim to ensure food security, oversized reserves can disrupt markets and incur high storage and opportunity costs. Investing in agricultural productivity through research is an alternative that can boost supplies, incomes, and security.
Wheat production in Malawi has the potential to increase substantially but currently remains well below capacity. Domestic wheat consumption demands 100,000 metric tons annually but only around 5,000 metric tons are produced locally, with the rest imported. Several areas in Malawi have suitable conditions for growing wheat, but production faces constraints including lack of research funding, limited farmer knowledge, and low prices paid by millers. The government aims to boost wheat self-sufficiency through improving seed supply systems, training partners, and promoting irrigation-based production.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to gain corn share in key international markets like Argentina and maintain leadership in Brazil.
The document discusses CIT's business which includes providing financial capital, intellectual capital, and relationship capital to tens of thousands of customers worldwide. It focuses on building long-term relationships through innovative financial solutions and services across multiple industries and geographies. CIT has over 7,300 employees, over a century of experience, and manages over $74 billion in assets to serve its diverse customer base.
The document outlines Monsanto's strategic growth objectives through 2010, with a focus on growing their seeds and traits portfolio. It discusses goals of expanding market share for corn franchises globally and penetrating new markets. Monsanto aims to lead the industry in innovation through research and development investments in breeding and biotechnology. The strategy is expected to translate to significant earnings growth and increasing free cash flow through 2007 as Monsanto establishes leadership in agricultural products.
This document discusses the history and future of agricultural biotechnology. It notes that there have been four agricultural revolutions: domestication of plants, use of farm tools, hybridization and increased yields in the 20th century, and current agricultural biotechnology. The document argues that agricultural biotechnology is still in its early stages, similar to where the computer industry was in the 1950s and 1960s. It identifies three factors - increased penetration and expansion into new acres, stacking of multiple traits into single crops, and second-generation products - that will define future growth in agricultural biotechnology. Finally, it outlines the expanding categories and long-term opportunities for biotechnology applications in agriculture.
The document summarizes Monsanto's third quarter 2007 financial results. Key points include:
- Net sales increased 23% to $2.84 billion compared to third quarter 2006. Gross profit increased 29% to $1.50 billion.
- Net income increased 71% to $570 million compared to third quarter 2006. Diluted earnings per share increased 72% to $1.03.
- For the first nine months of 2007, net sales increased 18% to $6.99 billion and net income increased 44% to $1.20 billion, compared to the same period in 2006.
1) The document provides an overview of Monsanto's research and development pipeline as of January 1, 2006. It summarizes projects in corn, cotton, and soybeans across various stages of development from discovery through commercialization.
2) Updates are given on several projects that have progressed in the pipeline, including drought-tolerant corn advancing to Phase II, nitrogen utilization corn entering Phase I testing, and higher-yielding soybeans showing good results in second-year field tests.
3) The pipeline is fueling expansion and performance through an efficient discovery program that is screening thousands of genes to identify traits that could become commercial products.
Brett Begemann, Executive Vice President of Global Commercial at Monsanto, presented at the Credit Suisse Conference on March 10, 2008. The presentation discussed (1) changing global supply and demand dynamics in agriculture increasing productivity demands; (2) Monsanto's strategy and pipeline to double gross profits by 2012 through new product launches and market share gains across corn, soybeans, and cotton in both domestic and international markets; and (3) near-term opportunities for 2008 including expected US market share increases in corn and soybeans.
1) Monsanto has opportunities to grow its market share and gross profit in key international corn markets like France, Italy, Hungary, Turkey, South Africa, Mexico, and India.
2) The value per acre varies by country, with France, Italy, Hungary, and Mexico representing medium-to-high value opportunities.
3) Monsanto aims to expand its hybrid corn market share in each of the largest corn-growing countries through molecular breeding applications and biotech traits.
This document provides an overview and summary from Carl Casale, Executive Vice President of Monsanto, at the UBS Best of Americas Conference on September 20, 2007. It discusses trends in global agricultural production, Monsanto's opportunities to maximize growth, developments in U.S. corn and cotton markets, and the potential for expansion of biotech traits internationally. Key points include rapid adoption of biotech traits creating increased opportunities, a new 8-gene corn product in development, and significant room for growth in markets outside the U.S.
This document provides an overview of Monsanto's strategy and financial performance. It discusses how Monsanto is positioned for growth through 2022 by focusing on innovation and expanding its seed and trait portfolio globally. Key points include:
- Monsanto has grown its gross profit and ongoing EPS significantly from 2004-2008 through its seeds and genomics segment, driven by innovative solutions and seed share gains.
- Its seed base and portfolio of patented traits have created unmatched capabilities in major crops like corn, soybeans, and cotton.
- Brands like DEKALB and ASI are gaining share in corn as investment in breeding delivers yield advantages over competitors.
- Triple-stack corn trait penetration exceeded expectations in 2008
The document discusses Monsanto's agricultural technology and products. It begins by noting that global demand for corn and oilseeds is growing due to increasing needs for feed and fuel. New technologies have helped reduce yield volatility for corn farmers. Monsanto's R&D approach focuses on meeting farmers' needs for increased yield. The company is gaining market share through products derived from molecular breeding techniques, which can double genetic gains over conventional breeding. Farmers are increasingly choosing seeds based on performance and yield over brand loyalty. Trait stacking in seeds provides increased protection from stresses like insects and weeds, driving adoption of biotech traits.
Seminis is focused on developing new vegetable seed products, particularly in high-value crops like tomatoes, peppers, cucumbers, and melons. One key product is a raised head broccoli variety that enables mechanical harvesting, which can significantly reduce labor costs compared to traditional broccoli harvesting. Seminis is developing commercial raised head broccoli varieties and testing prototypes to prepare for product launches targeting major markets like the U.S., U.K., and Spain. The new variety is expected to bring the cost of harvesting into the value of the seed.
This document discusses trends in the agricultural industry and Monsanto's strategies to address them. It notes that demand for corn will remain strong but nitrogen costs are rising, so Monsanto aims to develop nitrogen-efficient corn to reduce farmer costs. For soybeans, it aims to develop new traits as production shifts to higher-value segments to meet demands for yield and oil content. For cotton, boosting yields is key as production moves to higher-value markets. Monsanto seeks drought-tolerant and water-efficient traits to address water usage challenges across crops.
Atlas Pipeline Partners Barclays CEO Energy-Power ConferenceCompany Spotlight
Atlas Pipeline Partners is expanding its three major pipeline systems to double its processing capacity to over 1 billion cubic feet per day by early 2013. The company is currently executing a $600 million capital expansion program across its WestOK, Velma, and WestTX systems. This expansion is expected to significantly increase adjusted EBITDA, distributable cash flow, and processed volumes over the next year. Atlas plans to evaluate additional expansion opportunities to further grow its business and increase returns for unitholders.
This document summarizes a presentation given by Kerry Preete of Credit Suisse at the 14th Annual Global Ag Productivity Conference on March 10, 2009. The presentation discusses Monsanto's growth opportunity in seeds and traits, highlighting increasing global demand for food and the need for innovation to boost crop yields. Monsanto's strategy is focused on doubling gross profits by 2012 through the launch of new corn and soybean seed varieties with enhanced traits, such as Roundup Ready 2 Yield and SmartStax, which are expected to significantly increase yields on U.S. and international acres.
This document summarizes a presentation given by Kerry Preete of Credit Suisse at the 14th Annual Global Ag Productivity Conference on March 10, 2009. The presentation discusses Monsanto's growth opportunity in seeds and traits, highlighting increasing global demand for food and the need for innovation to boost crop yields. Monsanto's strategy is focused on doubling gross profits by 2012 through the launch of new corn and soybean seed varieties with enhanced traits, such as Roundup Ready 2 Yield and SmartStax, which are expected to significantly increase yields on U.S. and international acres.
This document provides an overview and highlights of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the last 12 months including the Telewest merger and Virgin Mobile acquisition. The fourth quarter saw revenue growth across all segments, strong net additions, and continued ARPU and customer care improvements. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
This document provides an overview of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the past year including the Telewest merger and Virgin Mobile acquisition. The highlights of Q4 2006 include revenue growth across all segments, strong broadband and TV subscriber additions, and increased triple play penetration. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
Virgin Media reported its financial results for the first quarter of 2007. Key highlights include:
1) Strong growth in broadband, TV and mobile contract customers due to compelling offers and marketing campaigns promoting bundled services. However, fixed line customers continued to decline due to increased competition.
2) ARPU was slightly down due to lower fixed line usage, but triple play penetration and Old NTL ARPU increased, pointing to continued ARPU growth.
3) Customer churn improved to 1.6% due to more rigorous credit policies and efficient sales channels, while Sky basics had a minimal impact in Q1.
4) Mobile contract growth remained strong through cable cross-sell, while pre-pay declined season
This document summarizes Virgin Media's performance in the first quarter of 2007. It discusses Virgin Media's progress on key priorities such as brand strength, targeting competitors, cable integration, and cross-sell opportunities. Financial metrics like revenue, customer additions and disconnects, and ARPU are also reviewed. Challenges from increased competition and the impact of Sky's new "Basics" package are addressed.
This document provides a summary of Virgin Media's financial performance in the second quarter of 2007. It discusses declines in revenue due to customer churn related to the loss of Sky basics channels, but notes improving trends in areas like TV and broadband. Key points highlighted include strong growth in video on demand usage, successful bundling of products, expansion of high speed broadband services, and continued strength in the mobile business. The summary also previews upcoming content initiatives and their potential to further drive customer growth and engagement.
This document summarizes Virgin Media's financial performance in the second quarter of 2007. Key points include: losses of Sky basic channels impacted customer churn but TV performance was better than expected; strong mobile contract sales and bundling of products continued; and while ARPU was affected by retention activities, cash flow outlook remains strong. The document provides details on customer additions and disconnects, growth of triple play bundling, and increases in video on demand usage.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It notes significant improvements in customer and revenue growth metrics compared to previous quarters. Revenue was up slightly from the second quarter due to growth in the consumer, business services, content, and mobile segments. Operating cash flow also increased due to lower costs and certain one-time benefits. However, proactive investment in customer growth was also noted as impacting operating cash flow. Net debt remained substantial as of the end of the third quarter.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It discusses improvements in customer and revenue growth metrics compared to previous quarters. Specifically, it notes record quarterly gross additions and reduced churn. It also summarizes growth in the company's broadband, TV, telephony, mobile, and business services segments. The document concludes with discussions of operating cash flow, revenue, and net debt levels.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives. He highlighted opportunities in premium TV, basic pay-TV, free DTV and contract mobile. Berkett also outlined Virgin Media's network advantages in speed and reach, and strategies to increase customer value through volume, ARPU and tenure. Mobile was discussed as an important driver of consumer value through cross-selling. Valuable tax assets were also noted.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives, and building the platform for growth. He highlighted opportunities in premium TV, basic pay-TV, free DTV, broadband, and mobile services. Berkett also covered Virgin Media's network advantages, content assets, tax assets, and the significant potential asset value of the company's network, consumer base, mobile business, and content.
This document provides a summary of Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF increased slightly compared to last quarter. Capex remained high at 13.7% of revenue to support network upgrades including faster broadband speeds. Revenue declined slightly due to seasonal factors in certain business units.
This document summarizes Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF was £324 million for Q1 2008, up slightly from the previous quarter. Cash capex was £125 million for network upgrades and expansion.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the same period last year.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the prior year through lower churn, higher triple-play penetration and a focus on quality customer growth. The company believes its cable network gives it advantages over DSL providers that will increase further after investments are completed.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenues increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network upgrades and expand service offerings.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenue increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network investments.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. Key points include plans to: 1) lead in next generation broadband through upgrades to 10Mbps and beyond; 2) lead the on-demand TV revolution through growing video on demand usage and iPlayer views; and 3) leverage mobile as a third screen through bundling mobile services. Virgin Media also aims to build a more efficient customer focused organization through an operational transformation program targeting over £120m in annual cost savings by 2012.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. It aims to lead in next generation broadband, lead the on-demand TV revolution, and leverage mobile as a third screen. Virgin Media has the best broadband economics due to its high market share and lower costs. It is focusing on upgrading customers to higher broadband tiers, growing on-demand TV and video usage, and integrating mobile offerings. The company expects operational transformation to deliver over £120 million in annual cost savings by 2012.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Introductions of the senior management team who will be presenting.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Biographies and photos of Virgin Media's management team, including the CEO and heads of key business units.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
South Dakota State University degree offer diploma Transcriptynfqplhm
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Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
How Poonawalla Fincorp and IndusInd Bank’s Co-Branded RuPay Credit Card Cater...beulahfernandes8
The eLITE RuPay Platinum Credit Card, a strategic collaboration between Poonawalla Fincorp and IndusInd Bank, represents a significant advancement in India's digital financial landscape. Spearheaded by Abhay Bhutada, MD of Poonawalla Fincorp, the card leverages deep customer insights to offer tailored features such as no joining fees, movie ticket offers, and rewards on UPI transactions. IndusInd Bank's solid banking infrastructure and digital integration expertise ensure seamless service delivery in today's fast-paced digital economy. With a focus on meeting the growing demand for digital financial services, the card aims to cater to tech-savvy consumers and differentiate itself through unique features and superior customer service, ultimately poised to make a substantial impact in India's digital financial services space.
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
3. OVERVIEW
Demand for Grain Is Global and Has Been Growing Over the
Past Decade
FOCUS: DEMAND
WORLD SUPPLY AND USE FOR TOTAL GRAINS
Ending stocks represent
carryover year to year of
600 30%
grain;
METRIC TONS (IN MILLIONS)
500 25%
Carryover is declining
reflecting expanded
400 20%
global demand reflecting
greater global demand
300 15%
from sources like biofuels
and export markets
200 10%
Carryover as a percent of
total use is also declining
100 5%
Reduction in carryover
0 0% comes at a time when
2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07
grain production is at an
all-time high, further
ENDING STOCKS AS A
ENDING STOCKS
reinforcing the strong
PERCENT OF TOTAL USE
demand pull in the market
Source: USDA World Agricultural Supply and Demand Estimates
3
4. OVERVIEW
Changing Demand Dynamics Are Leading to Fundamental
Shifts Favoring Corn and Soybean Production
FOCUS: PRODUCTION
U.S. PLANTED ACRES
Corn, wheat and
TOTAL PLANTED ACRES
soybeans account 90 OF CORN, WHEAT, SOY
220
for about 87 percent
of plantable acreage 210
85
ACRES (IN MILLIONS)
200
Planting influenced
ACRES (IN MILLIONS)
CORN
80
TOTAL PLANTED
by expected net 190
returns among 180
75
competing crops;
170
SOY
Net returns are 70
160
affected by: market
prices, yields and WHEAT 150
65
production costs 140
60
Wheat plantings 130
have reduced by 120
55
approximately 10 110
million acres since
50 100
the late 1990s 1997 1998 1999 2000 2001 2002 2003 2004 2005
WHEAT SOY CORN TOTAL PLANTED ACRES
Source: USDA
4
5. OVERVIEW
Because of Focus on Per-Acre Productivity, Seed Is Farmers’
Most Important Decision
U.S. CORN PRODUCTION COSTS PER ACRE
1996 OPERATING COSTS1
2004
17% SEED 22%
(INCLUDING
TRAITS)
17% CHEMICALS 15%
30% FERTILIZER 29%
SEED (INCLUDING TRAITS)
FERTILIZERS & SOIL AVERAGE YIELD
AVERAGE YIELD 169 bu/ac
130 bu/ac
CONDITIONERS
PRICE PER
PRICE PER
FUEL & POWER COSTS $2.13
$2.82 BUSHEL
BUSHEL
AVERAGE
AVERAGE
CHEMICALS ENTERPRISE
ENTERPRISE 236 acres
189 acres
SIZE
SIZE
CUSTOM OPERATIONS &
TECHNICAL SERVICE
OTHER
1. Excludes “Overhead” costs, including hired labor and opportunity cost of land, etc.
Source: USDA Economic Research Service: http://www.ers.usda.gov/data/CostsandReturns/testpick.htm
5
6. COMMERCIAL OPPORTUNITY
Farmers ‘Buy Yield,’ Creating Opportunity for Seeds and
Traits Growth
FARMERS’ DECISION EQUATION
MONSANTO’S POSITION: CORN
SEED National brands
(GENETIC GAIN)
The starting point of all agriculture; Regional brands
farmers need to maximize ‘genetics’
in seed for yield
+
Licensing
TECHNOLOGY Weed control
‘Below ground’
‘Above ground’
system
protection
protection
(% OF GENETIC GAIN
PRESERVED)
Technology is used to protect and
maximize the yield potential of the
=
seed
The elegance of a seed and trait approach
MAXIMUM YIELD is that the seed is the package and traits
POTENTIAL can be ‘stacked’ for maximum effect
The basic equation represents the In 2005, Monsanto introduced the first
maximum yield potential multiplied triple-stack of biotech traits
by the percent of that yield preserved
by technology
6
7. COMMERCIAL OPPORTUNITY
Delivering ‘Yield’ Favors Companies That Can Provide Both
Breeding and Biotechnology Improvements in Concert
FOCUS: YIELD
WHAT MATTERS TO FARMERS IS THE YIELD AT
HARVEST, WHICH IS A FUNCTION OF HOW MUCH
POTENTIAL A SEED HAS AND HOW IT’S
GENETIC POTENTIAL (FUTURE)
PROTECTED:
GENETIC POTENTIAL
NET REALIZED YIELD WITH
PERCENT OF GENETIC GAIN FUTURE PROTECTION
X PRESERVED OPPORTUNITIES
PROTECTION AND
ENHANCEMENT
IMPROVED NITROGEN
ADVANCES
BREEDING
UTILIZATION
NET REALIZED YIELD
DROUGHT
TOLERANCE
SECOND-GENERATION
INSECT CONTROL
GENETIC POTENTIAL (CURRENT)
INSECT PRESSURE NET REALIZED YIELD
WITH CURRENT
WEED PRESSURE
PROTECTION
NATURAL YIELD
NUTRIENT DEFICIENCY
SUPPRESSION
BELOW-GROUND
CURRENT YIELD
WATER DEFICIENCY INSECT CONTROL
PROTECTION
GENETIC POTENTIAL
ABOVE-GROUND PRESERVED
INSECT CONTROL THROUGH BIOTECH
TRAITS AND
PRODUCTION
WEED-CONTROL
ADVANCES
TRAITS
SEED
NET REALIZED YIELD
MANUFACTURING
WITH NO PROTECTION
7
8. COMMERCIAL OPPORTUNITY
Power of Breeding Library and Capabilities Lies in Unique
Ability to Create Differentiated Products for Three Channels
BREEDING TECHNOLOGY AND
COMMERCIAL CHANNELS
GERMPLASM LIBRARY
APPLICATION
Licensed to regional brands
>250 independent seed companies
BREEDING
GLOBAL
PROGRAM CREATES
GERMPLASM
DIFFERENTIATED
LIBRARY Regional brands
GERMPLASM
16 brands
National brands
Key position with
ag chem retailers
• Germplasm library • >100 breeding research • 50% of the breeding population comes from
centers worldwide inter-company, inter-country crosses
assembled from 36
programs in 12 • >2,000 genetic markers • Molecular breeding improves genetic
countries used by breeders for corn potential by 2x versus conventional
today breeding
8
9. COMMERCIAL OPPORTUNITY
Demonstrated Product Leadership Translates to Recognized
Brand Leadership
MARKET RESEARCH: TOP 3 CITED SEED PURCHASE DRIVERS
Based on a sample of 1,909 respondents representing farmers who use seed from
the major players in the U.S. corn seed market1
RANKED ORDER OF FARMER RESPONSES
OTHER NATIONAL Top 3 largest
CORN SEED purchase drivers for
PROVIDER(S) farmers buying
DEKALB corn seed
Good Yield 35% Good Yield 41%
1
all relate to
Good Stand/ performance
Top 2 of 3 Lower Cost 27% 16%
2
Strong Stalks benefits – reflecting
purchase drivers
68% of the reasons
related to price Discount/ Test Plot cited
10% 11%
3
Rebates Results
MARKET SHARE PERFORMANCE The positive view by
farmers of
PROJECTED MARKET SHARE
DEKALB’s brand
GAIN 2005 to 2006F
performance is
reflected in its
+2.5%
Asgrow and DEKALB brands
market share
growth year to year
1.Monsanto research; Survey question: “What one factor most influenced your decision to plant more acres of [brand] corn seed in 2006 than you did
this past season in 2005?
9
10. COMMERCIAL OPPORTUNITY
Seed Purchase Decisions Reflect Farmers’ Effort to Balance
On-Farm Risk
MARKET RESEARCH: SEED PURCHASE DECISIONS ON-FARM1
PURCHASE PATTERNS
• Plant 3-4 brands and 5-8 different
hybrids
• 60% select germplasm first, then make
PURCHASE a decision on biotech traits
STRATEGY: • Decision-making actions: look at on-
farm comparisons (68%), speak with
another farmer (58%), speak with seed
company (58%)
FOCUS: SEED PURCHASES
• Purchase from average of 2-3 seed
Farmers manage risk through PURCHASE dealers
LOGISTICS:
diversification on farm • 61% of purchases are made in
November and December
Number of brands is the practical
PLANTING MIX
tool used to create genetic diversity
on-farm • 38% planted to latest “top-yielding”
YIELD hybrids
STRATEGY: • 54% planted to consistent performing
hybrids
• 28% are first-year hybrids
AGE-MIX
• 30% are second-year hybrids
STRATEGY:
• 42% are third-year or older hybrids
1. Monsanto market research
10
11. COMMERCIAL OPPORTUNITY
Triple-Channel Approach Allows Monsanto to Compete for
Total Farm While Providing Genetic Diversity
HOLDEN’S SEED PARTNER
FIELD x HYBRID SELECTION
DEKALB
MODEL FARM OPERATION LH331RR+LH324B
HYBRID: HYBRID:
DKC63-74
TCRW
TRAITS1: RR/YGPL TRAITS1: RR/YGPL
• Very good disease package
• Excellent overall plant
and late season health
health
• Excellent drought tolerance
• Very good stalks
DEKALB
CROW’S HYBRIDS
HYBRID: DKC61-66
HYBRID: 4940T
TRAITS :
1
RR/YGPL
TRAITS1: RR/YGPL
• Earlier maturity hybrid to
• Excellent stalks
spread reproductive
• Excellent drought tolerance window
• Very good stalks and roots
DEKALB CROW’S HYBRIDS
MODEL FARM CHARACTERISTICS
HYBRID: DKC64-23 HYBRID: 4616T
Central
LOCATION:
TRAITS :
1
RR/YGRW Illinois TRAITS1: RR/YGPL
• Very good stalks and roots BRANDS OF SEED CORN PLANTED: • Earlier maturity hybrid to
3
for flexible harvest spread reproductive
scheduling INDIVIDUAL HYBRIDS PLANTED: window
6
• Excellent drought tolerance • Very good disease package
1. Trait abbreviations: RR= Roundup Ready; YGCB = YieldGard Corn Borer; YGRW = YieldGard Rootworm; YGPL = YieldGard Plus
11
12. COMMERCIAL OPPORTUNITY
Performance Acceleration Across U.S. Commercial
Channels Is Reflected in Market Share Growth
U.S. CORN MARKET SHARE
60%
50%
40%
Continued gains
30% of 1-2 points for
National brands
20%
10%
0%
2001 2002 2003 2004 2005 2006F 2007F
TRAIT PENETRATION STACKED PENETRATION
2005 2006F 2005 2006F
LICENSED BRANDS
44% 60% 27% 43%
REGIONAL BRANDS
67% 75% 36% 53%
NATIONAL BRANDS
87% 90% 60% 69%
12
13. COMMERCIAL OPPORTUNITY
With the Corn Trait Technology in Hand Today, There’s
Opportunity to Double Penetration By End of Decade
U.S. CORN TRAIT OPPORTUNITY
FOCUS: OPPORTUNITY
TOTAL MARKET OPPORTUNITY IN 2010
U.S. TRAIT ACRE
OPPORTUNITY: CURRENT
RELATIVE RETAIL VALUE PER ACRE
YIELDGARD COMMERCIAL CORN
ROOTWORM
TRAITS
2006F:
YIELDGARD
Under 50%
CORN BORER
penetrated to
date
ROUNDUP
READY CORN
60
40 50
30
10 20
U.S. TRAIT-ACRE OPPORTUNITY
(ACRES IN MILLIONS)
OPPORTUNITY
DOUBLE SINGLE
TRIPLE
20-25M ACRES
STACKED
~10M ACRES
25-30M ACRES
Above triple stack, Acres exclusively using
Because YieldGard Rootworm
remaining YieldGard Roundup Ready, which would
has the lowest market
Corn Borer forms include “refuge” acres
opportunity of the 3 traits, its
double-stack required for other acres using
market potential is the proxy for
opportunity insect-protected traits
total potential for triple stack
13
14. COMMERCIAL OPPORTUNITY
Price-for-Penetration Strategy Gives More Farmers Access to
New Technology in Early Years of Introduction
YIELDGARD CORN BORER
U.S. PENETRATION OF CORN TRAITS
INTRODUCED 1997
PERCENT OF TOTAL MARKET OPPORTUNITY1 PENETRATED BY
YEARS FOLLOWING COMMERCIAL INTRODUCTION PERCENT OF TOTAL
~60%
OPPORTUNITY (2006F)
PERCENT OF TRAIT-ACRE OPPORTUNITY1
70% Year 3:
FIRST SIGNIFICANT Decrease to
PRICING MOVE:
60% drive
penetration
50% ROUNDUP READY CORN
INTRODUCED 1998
40%
PERCENT OF TOTAL
~55%
OPPORTUNITY (2006F)
30%
FIRST SIGNIFICANT Year 6:
PRICING MOVE:
20% Increase
YIELDGARD ROOTWORM
10%
INTRODUCED 2003
0%
PERCENT OF TOTAL
~35%
Year Year Year Year Year Year Year Year Year Year OPPORTUNITY (2006F)
1 2 3 4 5 6 7 8 9 10
FIRST SIGNIFICANT None to
PRICING MOVE: date
FOCUS: TRAIT VALUE
Pricing philosophy gives farmers more
Price for penetration, based on replacement
access on more acres to new technology
value of competitive alternative
Growth comes from volume expansion
For each $3 of value created, Monsanto seeks
more than price
$1 and remainder accrues to farmer
1. Percent of total market opportunity reflects the ratio of number of actual acres planted to total trait-acre opportunity identified for each particular trait
14
16. PIPELINE OPPORTUNITY
From Early Stages, “HIT” Projects Are Designed and
Resourced to Bolster Commercial Readiness
High-Impact Technology: A designated sub-set of the R&D pipeline placed on a
graduated track to streamline development work and improve commercial readiness,
reflecting enhanced confidence and certainty in our ability to launch a commercially
P R O JE CT
meaningful product; Designed to pull forward the Net Present Value (NPV) through
larger-acre launches in elite germplasm with a greater financial benefit.
Roundup RReady2Yield soybeans
P R O JE CT
PHASE III
• Parallel work in breeding and
biotechnology
• Simultaneous regulatory work,
submissions moving forward along
with project testing for key launch
countries
Drought-tolerant corn
P R O JE CT
PHASE II
• Parallel work in breeding and
biotechnology
• Early-stage R&D and commercial
integration
Vistive III soybeans
P R O JE CT
PHASE II
• Progress will allow Vistive III to “leap-
frog,” shortening the gap in
commercialization between Vistive I and
Vistive III
16
17. PIPELINE OPPORTUNITY
Reflecting HIT Status, Roundup RReady2Yield Soybeans Is
Targeted for Most Significant Commercial Trait Launch
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Roundup RReady2Yield AVAILABLE MARKET 70M 50M 35M
Soybeans
CREATING VALUE PERCENT PENETRATED 0% 0% 0%
LAUNCH ACRES OF U.S. TRAITS
PRODUCT CONCEPT 3
HISTORICAL COMMERCIALIZED TRAITS (1996-2006)
2.5
HIT Project
ACRES (IN MILLIONS)
Roundup RReady2Yield soybeans
AVERAGE
2
DISCOVERY PHASE I PHASE II PHASE III PHASE IV HISTORIC TRAIT
LAUNCH:
1.5 1.2M ACRES
1
• Roundup RReady2Yield is the second-generation of
Monsanto’s popular herbicide-tolerant platform in 0.5
soybeans
0
VALUE CONSIDERATIONS SOYBEAN
COTTON
CORN TRAITS TRAITS
TRAITS
• Value is additive, with target of up to 5 bushel-per-
Target acreage for Roundup RReady2Yield
acre yield improvement over comparable Roundup
Ready soybeans commercial launch is expected to be a multiple
above historical acreages in launch years
• Value created through yield gains will be shared with
farmer and value chain as has been Monsanto’s
ROUNDUP RREADY2YIELD: COMMERCIAL MILESTONES
practice
STARTING POINT
• Market opportunity for Roundup RReady2Yield U.S. REGULATORY
APPROVAL
soybeans recognizes competition from other traits
SEASON 1 LAUNCH YEAR
RETAIL
Medium (>$10/acre to <$30/acre) GLOBAL REGULATORY CLEARANCES
VALUE/ACRE:
TOTAL ACRE PRE-COMMERCIAL USER- COMMERCIAL LAUNCH
High (>20M acres)
OPPORTUNITY: RELIABILITY TRIALS
17
18. PIPELINE OPPORTUNITY
Multi-Generational Drought-Tolerant Corn Creates
Value Across Multiple Market Segments
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
AVAILABLE MARKET 80M 30M 6M
Drought-tolerant corn
CREATING VALUE PERCENT PENETRATED 0% 0% 0%
SEGMENTED VALUE OPPORTUNITY
PRODUCT CONCEPT
ACROSS MARKETS: U.S. EXAMPLE
HIT Project Drought-tolerant corn
DISCOVERY PHASE I PHASE II PHASE III PHASE IV High annual
precipitation
• Drought-tolerance is a family of products, aimed at
providing consistent yield and buffering against the
effects of water limitations
VALUE CONSIDERATIONS
Low annual
• Farmers value water-use in “acre-inches of water” needed precipitation
to support yield potential – farmers need 18-20 inches of Source: Spatial Climate Analysis Service, Oregon State University
moisture from natural or irrigated sources during growing
WESTERN
IRRIGATED STABILITY
season DRYLAND
• Value of the trait is in better yields under moisture-
8-12M acres 10-12M acres 50-60M acres
stressed conditions; Varies by region (see table at right)
• The value will be specific to the variable costs of water use 14-18” typical 14-18” typical 17-19” typical
precipitation in precipitation in precipitation in
by farmers, not fixed costs of irrigation
growing season growing season growing season
• First value models are based in U.S.; International markets
Irrigated Non-irrigated Non-irrigated
follow similar value proposition
RETAIL Value is in Value is in
Value is in
Medium (>$10/acre to <$30/acre)
VALUE/ACRE: improved yields improved yields
replacing
annually, by when moisture is
irrigation, reducing
TOTAL ACRE improving water- less than optimal
the variable costs
High (>20M acres)
OPPORTUNITY: use efficiency
of irrigation
18
19. SUMMARY
Monsanto Has Strong Growth Opportunity in Current
Commercial Portfolio and Emerging from R&D Pipeline
PERIOD : PERIOD : PERIOD :
SEED & TRAITS ESTABLISHED CORN IS ON THE LEADING EDGE THE GAME CHANGES
2003 2004 2005 2006 2007 2008 2009 2010
Commercial viability of seeds With seeds-and-traits strategy
Seed and trait growth comes from: penetration,
and traits established; established, gross profit
stacking and multi-generation traits, and
Supporting infrastructure in opportunity expands in the United
breeding enhancement; Corn defines the future
place
States and internationally with
direction
penetration, stacking, second-
generation – even as competition
becomes more significant
PERIOD PERIOD
KEY MILESTONES KEY DRIVERS
Advances in breeding technology combine Continued growth in the U.S. corn market, with additive
1
with biotech for market advantage in corn; gross-margin opportunity for the ASI businesses
U.S. share gains of 1-2 points
Molecular breeding advances begin to benefit
2
Roundup Ready Corn 2 reaches 50M acres
international corn market share position
Stacks become the trait package of choice
3 New opportunities for global trait expansion
in corn
4 Cotton platform creates new opportunities for growth
Roundup Ready Flex cotton launches;
Transition to second-generation traits
Seminis poised to capture additional gross margin
starts in United States and Australia
5
through commercial initiatives and technology infusion
Ex-U.S. seeds and traits market established
with cornerstones in India and Brazil Next-generation pipeline poised for enhanced
6
commercial delivery
19