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Biotech / Medical : Monsanto Co. -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (2062)	5/24/1999 9:53:00 AM
From: Exacctnt	Read Replies (2) \| Respond to of 2539

Anthony, MTC trading is halted. Any big news? Regards,

To: Anthony Wong who wrote (2062)	5/24/1999 6:40:00 PM
From: Rob C.	Read Replies (1) \| Respond to of 2539

AW, Do you think we will bounce tomorrow??? Read this and smile, I am. CHICAGO, May 24 (Reuters) - Reports that genetically modified crops could pose a danger to monarch butterflies have hit the stock of Monsanto Co. <MTC.N> in recent days, but the company said Monday that farmer demand for genetically altered seeds is robust. "The demand for these seeds has been breathtaking, and I'm looking at last week's sales numbers," said Robert Fraley, co-president of Monsanto's agricultural division. Fraley said that about half of the U.S. 1999 soybean and cotton crops and about one-third of the corn crop will be planted with seeds that have been genetically altered. These crops have come under fire following the release of a Cornell University study showing harmful effects on monarch butterflies from pollen produced by so-called Bt corn modified to resist the European corn borer. Bt corn is named for Bacillus Thuringienis, a bacterium in soil that is toxic to the European corn borer. "For all practical purposes all the experiment on the monarch butterfly shows is that if you put enough Bt protein on a leaf, you'll kill the caterpillar," Fraley said. "But that's been known for 150 years," he said. Fraley said investor jitters generated by media reports about this butterfly study have pressured Monsanto's stock price, which closed down 3-7/8 at 40-1/2 on Monday. "I think that in the last week there has been a significant number of negative articles and I view it as a very reactionary effect," Fraley said. "But for some, it's a buying opportunity." Fraley said the life sciences company expected more acreage to be planted with genetically altered crops next year in the U.S., South America and China, and said that genetically modified seeds still cost more than seeds that have not been altered genetically. "I don't think this is something farmers are going to walk away from," he said. "The benefits of these technologies are incredible." Monsanto markets cotton and corn seeds that are altered to resist pests and soybeans that are modified to resist Monsanto's powerful Roundup Ready herbicide. REUTERS Rtr 18:20 05-24-99 Copyright 1999, Reuters News Service Copyright © 1997 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. or such other notice as may be agreed by the parties in writing.