1. MONSANTO BIENNIAL
U.S. INVESTOR DAY
NOVEMBER 8, 2007
1

2. Forward-Looking Statements
Certain statements contained in this presentation are quot;forward-looking statements,quot; 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, including proceedings related to Solutia Inc.;
developments related to foreign currencies and economies; successful completion and 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 periodic report to
the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only
as of the date of this presentation. The company disclaims any current intention or obligation to update
any forward-looking statements or any of the factors that may affect actual results.
Trademarks
Trademarks owned by Monsanto Company and its wholly-owned subsidiaries are italicized in this
presentation. All other trademarks are the property of their respective owners.
© 2007 Monsanto Company
2

3. Non-GAAP Financial Information
This presentation may use the non-GAAP financial measures of “free cash flow,” earnings per share (EPS) on an
ongoing basis and ROC. We define free cash flow as the total of cash flows from operating activities and investing
activities. A non-GAAP EPS financial measure, which we refer to as on-going EPS, excludes certain after-tax items
that we do not consider part of ongoing operations, which are identified in the reconciliation. ROC means net
income (without the effect of certain items) exclusive of after-tax interest expenses, divided by the average of the
beginning year and ending year net capital employed, as defined in the reconciliation. Our presentation of non-
GAAP financial measures is intended to supplement investors’ understanding of our operating performance. These
non-GAAP financial measures are not intended to replace net income (loss), cash flows, financial position, or
comprehensive income (loss), as determined in accordance with accounting principles generally accepted in the
United States. Furthermore, these non-GAAP financial measures may not be comparable to similar measures used
by other companies. The non-GAAP financial measures used in this presentation are reconciled to the most
directly comparable financial measures calculated and presented in accordance with GAAP, which can be found at
the end of this presentation. Monsanto is unable to provide a reconciliation of the 2008 ROC goal to projected net
income and financial position for 2008 with out unreasonable effort. As shown in the ROC reconciliation for the
previous year, the calculation of ROC is complex, and Monsanto does not have sufficient information at this point in
the fiscal year to reasonably estimate its operating profit after-tax and average capital for 2008 due to market and
other conditions that our outside of Monsanto’s control.
With respect to the time period prior to Sept. 1, 2000, references to Monsanto in this presentation also refer to the
agricultural business of Pharmacia.
FISCAL YEAR:
References to year, or to fiscal year, are on a fiscal year basis and refer to the 12-month period ending August 31.
3

4. HUGH GRANT
CHAIRMAN, PRESIDENT,
AND CHIEF EXECUTIVE OFFICER
MONSANTO BIENNIAL
U.S. INVESTOR DAY
NOVEMBER 8, 2007
4

5. OVERVIEW
Given Growth Opportunities, Monsanto Has Potential to More
Than Double Gross Profit Over the Next Five Years
MONSANTO GROSS PROFIT 2012 GROWTH RANGE
GROWTH TARGET Gross profit targeted to double
from 2007 through 2012
$9,000
STRATEGIC PLAYBOOK
$8,000
All growth is organic, from
$7,000 base business and pipeline
GROSS PROFIT
(IN MILLIONS)
$6,000 U.S. Corn
International Corn
$5,000 Soybeans
Cotton
$4,000
Seminis
$3,000 R&D Pipeline
Acquisitions to be pursued,
$2,000
but are not included in this
$1,000 growth projection
$0 Earnings continue to translate
into operating cash, and value
2004 2007 2012
MILESTONES
created for shareowners
2010
2007 through combination of
Gross margin
Base Gross Profit: acquisitions, share
target: 52-54%
$4,286M repurchases and dividends
ONGOING EPS GROWTH:
MID-TO-HIGH TEENS
5

6. U.S. AND INTERNATIONAL CORN
Trait Expansion Opportunity Still Early Globally; SmartStax
Resets the Deck in 2010 and Beyond
COMMERCIAL PLATFORM: 2007-20101 TRAIT PLATFORM: 2010+
GLOBAL MARKET
OPPORTUNITY: • SmartStax resets trait
• Reflects technology fit; actual
opportunities
penetration determined by
CORN TRAITS regulatory approvals and • Competition, penetration
2010 VS 2012 competitive share and technology fit being
• Competitors continue to license evaluated further for
Monsanto traits in key markets each geography
2007
HYBRID
SmartStax
MARKET
SIZE2
(ACRES)
U.S. 92M 80M 60-70M 45-55M 60-65M
Europe (EU27) 27M 24M 8M 5M 15-20M
Brazil 23M 15-20M 15-20M 5M 15-20M
Argentina 8M 9M 7M 5M 5-7M
India 7M 6M 6M -- 5-6M
Total Markets 157M 134-139M 96-111M 60-70M 100-118M
43-45% 46-53% 30-35%
2007 Penetration
1. Market Opportunity reflects total acres where technology is applicable, not necessarily acres
Targets marked in green representing countries currently planting projected for penetration by 2010.
80M or with primary regulatory approval secured for respective trait
2. Corn acreage and production; USDA FAS 2007/08 projections report and internal estimates
6

7. SOYBEANS
Preparations Under Way for Large Scale U.S. Launch of
Roundup RReady2Yield
ROUNDUP RREADY2YIELD SOYBEANS:
CROP: Soybeans
LAUNCH PLANS
Launch
OBJECTIVE: Roundup U.S. Full-Scale
RReady2Yield Launch Target:
P R O JE CT
5- 6M Acres
2008 STATUS
U.S. Controlled
• Consistent 7-11% yield Commercial
advantage with Roundup Release Target:
RReady2Yield 1- 2M Acres
• USDA, EPA and FDA
Grower level marketing, awareness and trial
approvals received;
awaiting key export
Licensee breeding
approvals
• Pre-launch activities Industry coordination and communications
under way • American Soybean Association and key agri-food
PRICING stakeholders
• Yield improvement shared Pursuit of export approvals in Japan, China,
with grower; average Europe and Mexico
5-year soybean
Branded and licensed seed production
commodity price
2007 2008 2009 2010
approximately $6.40 per
bushel1
7
1. Source: NASS, USDA data 2003 to August 2007

8. COTTON
Second-Generation Trait Conversion Accelerates Globally to
Expand Gross Profit Contribution of Cotton
GLOBAL COTTON SEED AND TRAITS GROSS PROFIT
INDEX=2007
2012F
2007
1.8X
OVER 2007 INDEX
• In five years, Delta and Pine Land fully contributing with
U.S. market share and second-generation trait growth
• India becomes a larger player with conversion to second
INTERNATIONAL generation traits
• Australia and Brazil are small acre, but important markets
8

9. SEMINIS
Seminis Expected to Outpace Industry Sales Growth Projection
with 6 Percent CAGR Through 2012
VEGETABLE SEED: GLOBAL MARKET SIZE
$4,000
$3,500
$3,000
ANNUAL REVENUE
(IN MILLIONS)
4 percent CAGR drives
$2,500
seed market
$2,000 opportunity of $3.7
Seminis expected to grow
billion annually by 2012
faster than industry with 6
$1,500
percent CAGR
$1,000
$500
$0
2007 2008F 2009F 2010F 2011F 2012F
MARKET BENCHMARKS
SEMINIS REVENUES
SEED MARKET $3B
PRODUCTION ALL OTHER VEGETABLE SEED REVENUES
96M
ACRES
9
Source: Company estimates

10. R&D PIPELINE
Strong Pipeline Value Reflects Commercial Opportunity in
Latter-Stage Projects and Emerging Value in Yield and Stress
DISCOVERY PHASE 1 PHASE 2 PHASE 3 PHASE 4
Drought-
HIGH Tolerant
FAMILY TRAITS►
Family
COLLABORATION
CORN:
YIELD & STRESS
Nitrogen-
BROAD-ACRE HIGH Utilization
FAMILY TRAITS►
YIELD Family
Broad-Acre,
MEGA Higher-Yielding
FAMILY TRAITS►
Family
SOYBEANS: Broad-Acre,
BROAD-ACRE HIGH Higher-Yielding
FAMILY TRAITS►
YIELD Family
Insect-
2020 VALUE RANGES: protected Roundup
Omega-3
RR2Y RReady2Yield
soybeans
soybeans soybeans
MEGA HIGH Bollgard III
$300M-$500M
>$1BM High-oil
Dicamba- YieldGard
soybeans
tolerant VT PRO
soybeans
MID LOW corn
Vistive III
<$150M
$150M-$300M Roundup Improved-
RReady2Yield protein
Corn Soybeans Cotton Canola canola soybeans
10

11. FINANCIAL FOCUS
Monsanto’s Strategic and Financial Opportunity Lies in
Seeds and Traits
GROSS PROFIT PERFORMANCE BY SEGMENT
Gross Profit 2007-2012F
$10,000
2008 STATUS
• FY2008 targets $3.5B gross
profit for Seeds and Genomics;
$8,000
$1.3B for Ag Productivity
2012 OUTLOOK
IN MILLIONS
$6,000
2012F
$6.5-$7B
SEEDS & GENOMICS
$4,000
ROUNDUP AND OTHER
$1.2B
GLYPHOSATE-BASED
HERBICIDES
ALL OTHER AG
$2,000
$350M
PRODUCTIVITY
$0
2007 2008F 2012F
ROUNDUP AND OTHER GLYPHOSATE-
SEEDS & GENOMICS
BASED HERBICIDES
ALL OTHER AGRICULTURAL
PRODUCTIVITY
11

12. OVERVIEW
Monsanto’s Opportunity Through 2012 Is Function of Ability to
Execute Against Identified Growth Drivers
2007 INVESTOR DAY: AGENDA
TIME SPEAKER TOPIC
Growth Drivers: Corn, U.S. and
10:30 AM CARL CASALE
EXECUTIVE VICE PRESIDENT International
11:00 AM Q&A SESSION: CARL CASALE
11:15 AM BRETT BEGEMANN Growth Drivers: Soybeans and Cotton
EXECUTIVE VICE PRESIDENT
11:45 AM Q&A SESSION: BRETT BEGEMANN
NOON LUNCH
1:00 PM TERRY CREWS Growth Drivers: Seminis
CHIEF FINANCIAL OFFICER
1:30 PM Q&A SESSION: TERRY CREWS
1:45 PM ROBB FRALEY Growth Drivers: R&D Pipeline
CHIEF TECHNOLOGY OFFICER
2:15 PM Q&A SESSION: ROBB FRALEY
Translating Growth Drivers
2:30 PM TERRY CREWS
Into Financial Results
3:00 PM Q&A SESSION: MONSANTO EXECUTIVE TEAM
HUGH GRANT
3:30 PM Conclusion
CHAIRMAN, PRESIDENT AND CHIEF
EXECUTIVE OFFICER
12