monsanto co (MON) Snapshot

Monsanto Company's Intacta RR2 PRO(TM) soybeans, has received official approval from China's Ministry of Agriculture. With this approval, Monsanto will now begin commercial preparation for the full-scale launch of Intacta RR2 PRO(TM) soybeans in Brazil for the upcoming crop season. In conjunction with the transition to commercial preparation for the upcoming season, Monsanto also unveiled the final results for its 2012 on-farm trials in Brazil. In 2013 the company doubled its Ground Breakers(R) program in Brazil to include 1,000 growers, and final results from this year's harvest demonstrate another year of significant yield advantage of greater than four bushels per acre against first-generation Roundup Ready(R) soybeans. The company noted that the commercial launch in Brazil becomes the catalyst for successive launches of Intacta RR2 PRO(TM) soybeans throughout South America, ultimately accessing a 100-million-acre total opportunity. Monsanto expects Ground Breakers(R) trials for Intacta RR2 PRO(TM) in Argentina in fiscal year 2014, with a commercial launch expected in fiscal 2015. Monsanto is currently developing the second- and third-generation of Intacta RR2 PRO(TM) to provide additional benefits to growers in the region. Intacta RR2 PRO(TM) soybeans offer three distinct benefits for growers: increased yield potential; protection against major pests that attack soybeans -- velvetbean caterpillar, soybean looper, bean shoot borer, bollworm, corn stalk borer and Helicoverpa; and tolerance to glyphosate herbicide.

Farmers in Idaho have filed a lawsuit against Monsanto regarding the unapproved genetically modified wheat found last month in an Oregon field. The farmers filed what could potentially be a class action lawsuit, alleging that Monsanto's development of Roundup Ready wheat has resulted in higher production costs and lower prices because the genetically modified wheat is likely to infiltrate the non-genetically engineered wheat supply. The Idaho farmers are requesting class action status for the suit to represent farmers in Idaho, Oregon, Washington and other states.

Two Eastern Washington State farms that grow soft white wheat have filed a class action lawsuit in Spokane federal court against Monsanto. The lawsuit, the first class action against Monsanto over its release of unauthorized genetically engineered wheat, was filed on behalf of all domestic soft white wheat farmers. More than 46% of U.S. soft white wheat comes from Washington state. Monsanto field tested genetically-engineered wheat resistant to the herbicide Roundup in 16 states from 1998 and 2005. This wheat has never been approved for planting in the United States. Although Monsanto indicated that it halted its trials nine years ago, its genetically-engineered wheat was discovered on an Eastern Oregon farm last month. The lawsuit contends that the discovery of Monsanto's unapproved wheat has detrimentally affected the ability of soft white wheat farmers to sell their wheat into export channels as many countries, such as Japan and South Korea, are cancelling orders and refusing to accept imports of domestic soft white wheat. These import restrictions could prove financially devastating to soft white wheat farmers in the Pacific Northwest. Nearly 90% of the Pacific Northwest's soft white wheat crop is exported to Asian nations, where it is used to make noodles and crackers. The Complaint alleges that Monsanto and its field trial operators knew that conventional wheat could become contaminated with Monsanto's genetically-engineered wheat through commingling and other means during the harvest, storage, transport, and disposal process, yet failed to take the necessary steps to prevent this from occurring. The lawsuit further contends that Monsanto knew that the existence of genetically-engineered wheat commingled within the general wheat supply would cause significant disruptions in the wheat export market and financially damage wheat farmers.