Monsanto at Sanford Bernstein Conference Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“looking at the macro climate and agriculture at the moment, it’s the same story. We are looking for more grain on shrinking acres and the demand curves in agriculture of the life and wealth.”

“If you look at corn and the conservative estimates in corn we’d suggest going forward that we need about 500 million bushels of incremental corn each year, so we need 500 million bushels of new corn each year.”

“so soy is an emerging story, and within Monsanto, we say that this is decade of the bean”

“I think if you look at China one other things that get gloss over sometimes just the second largest hybrid corn market in the world, second only to the United States, there is over 70 million acres of corn in China today and it’s all hybrid, and they’ve done a fairly decent job with their own genetics and breeding programs to increase productivity of their corn –base, but nowhere close to the level that they need to keep up with the internal demand”

[in response to a question on GMO] “We are a seed company. We produce seed that somebody else grows and harvests and somebody else buys and trucks and somebody else process seed and then somebody else buys that processed material and makes brand of food that ends up in a [chilled cabinet] and somewhere in that very long the chain we’ve got more attention than we anticipated…I think for us there was an education job and we need to do our job and explain what we do and because you’re explaining very often where food comes from and isn’t a chilled cabinet this starts in the field. So I think that for us specifically but for the industry in general we have to do much better job in telling an untold story”