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Monsanto well set after first quarter

Increased sales of Roundup (glyphosate) and strong growth in maize seed and trait revenues contributed to a 9.5% rise in Monsanto's sales to $1,539 million in the first quarter of fiscal 2007. While the first quarter is a relatively small contributor to Monsanto's overall sales and earnings, it provides a good indicator of full-year performance. "We believe our business is on track for another strong year," says Monsanto's chairman, president and CEO, Hugh Grant. Earnings guidance for the full year is now at the "upper end" of the previously forecast $1.50-1.57/share.

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