Letter to the Shareowners

Letter to Shareowners

Dear Shareowners,

During what has proven to be a challenging year for agriculture and many global industries, your company delivered a solid performance. The results in fiscal year 2015 were possible due to the strength of our core business, cost discipline and our ability to deliver innovative solutions for farmers across crops and geographies.

Leading this strong performance was our global soybean business. We achieved record-setting adoption of Intacta RR2 PROsoybeans—securing 15 million acres in South America, a number we expect to double next year. We grew or held share in every major corn market in 2015. We’re also seeing rapid adoption of our Climate platform, continued progress in our microbial work through the BioAg Alliance with Novozymes and ongoing demand for technology upgrades across our core products.

We’ve taken some strategic actions to better prepare our business for the realities of today and the outstanding opportunities ahead of us. Earlier this year, we announced significant investment in our global breeding program and the expected investment at our Luling, Louisiana, manufacturing facility to support future product launches; we’ve begun actions in several areas of the company to better support our pipeline and increase efficiencies in our operations; and we’ve demonstrated our commitment to creating and returning value to our shareowners through our accelerated share buyback program.

We’ve continued our longstanding commitment to collaborating with diverse partners to help solve some of the big challenges facing our planet—investing in numerous community development, education, research and conservation programs such as our partnership to protect monarch butterfly habitats and our efforts to support action on climate change.

On behalf of the board of directors and the employees of Monsanto, thank you for your continued support. The fundamentals of our business are strong. We have a solid portfolio of products, an industry-leading pipeline and see an unwavering demand for innovation. I remain certain that there is no better industry to be in and no company poised for long-term growth like Monsanto with a world of opportunity ahead.


Hugh Grant

Chairman of the Board of Directors and Chief Executive Officer