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Minnesota Soybean meets with Monsanto

Minnesota Soybean had an opportunity recently to learn first-hand what Monsanto plans to do if the company acquires Syngenta.

Keith Schrader, chairman of the Minnesota Soybean Research and Promotion Council, says Monsanto reached out to Minnesota and other states.

“To come out and not only tell their story of why they want to do the acquisition, but also get some feedback from farmers to get their feelings on this.”

Monsanto Chief Operating Officer Brett Begeman told members of the Council that the company has a weakness in its chemical division.

“This would obviously strengthen their stance within the industry to match up some of the chemicals, i.e. herbicides, fungicides, and nematicides…and tie them to Monsanto traits.”

Schrader tells Brownfield it was important to talk to farmers before addressing Mr. Begeman about the potential acquisition.

“To get some input from a cross-section of farmers across the state.  One of the concerns had to do with Syngenta’s seed company; what would happen there.”

He says Mr. Begeman assured the group that Monsanto has no intention of owning the seed or trait part of the Syngenta portfolio.

“I believe he said two or three offers (are) on the table to sell that portion off.  They feel very comfortable that Syngenta Seed would still be readily available and the dealer network stay intact.”

Schrader says he tried to stay neutral about Monsanto’s proposal, and came away from the meeting feeling better than he did going in.  Another concern he has is what happens to seed prices next year if Syngenta accepts, and Mr. Begeman gave no indication that they would be lowered.