IMPORTANT: The following information is current as of August 2008: YieldGard Plus and YieldGard Rootworm with Roundup Ready Corn 2 are grandfathered for import and use in processed feed in the E.U. YieldGard Plus with Roundup Ready Corn 2, YieldGard VT Rootworm/RR2 and YieldGard VT Triple are neither approved nor grandfathered, and there is zero tolerance for these traits in processed feed imported in the E.U. Growers of all products bearing the Market Choices mark must talk to their grain handler to confirm the handler's buying position for grain from these products. It is a violation of national and international law to move material containing biotech traits across boundaries into nations where import is not permitted.

Bt products may not yet be registered in all states. Check with your Monsanto representative for the registration status in your state.

ALWAYS READ AND FOLLOW PESTICIDE
LABEL DIRECTIONS. Roundup Ready^®
crops contain genes that confer tolerance
to glyphosate, the active ingredient in
Roundup^® agricultural herbicides. Roundup^®
agricultural herbicides will kill crops that
are not tolerant to glyphosate. Roundup^®,
Roundup Ready^®, YieldGard VT^® and
Design, and YieldGard VT Triple^® are
registered trademarks of Monsanto
Technology LLC. All other
trademarks are the property
of their respective owners.
©2008 Monsanto Company.
(33740-9-SF-8/08)

prices in February and March. teau has just occurred, it makes sense If we have good weather, crop-pro- to me that the valley of this new duction worries will dissipate by price plateau could be seen as soon late June and traders will be talking as harvest 2009. about record yields. However, if the Demand is being hurt by high weather becomes problematic, a June prices, while production is being or early July peak is likely again in stimulated. There is capital flowing 2009, making those sales important. into every inefficient agricultural

The only solution for outguess- area in the world, and we know pro-ing weather and demand issues is duction technology has progressed to sell some bushels on each price everywhere. We need only good peak. We anticipate that there will be weather to show how large yields four price peaks during the March can be. Since that will happen unless through June Selling Season in 2009. weather stops it, I encourage farmers Plan on selling 25% of the bushels to be aggressive on early spring sales you have on hand and 25% of the to- and put purchases in 2009. tal bushels you want to sell ahead of harvest on each price peak. Use our

Sell Signals (or your own objective technical program) to tell you when prices are overheated.

If you think I am too optimistic, cut your anticipated peaks and sale increments to three. Or if you think I am too negative, then increase your expected number of price peaks and sale increments to five.

Grain harvested from products that bear this mark is fully approved for food and feed use in the United States and Japan, but is not

® approved in the European Union. You must find a market for this crop that will not ship this grain or its processed products to Europe. Appropriate markets for this grain include: domestic feed use or grain handlers that specifically agree to accept this grain and handle it appropriately. For more information on your grain market options, go to the American Seed Trade Association’s website at www.amseed.org or call your seed supplier.

MARKET CHOICES is a registered certification mark used under license from ASTA.

Farmers should strongly con-
sider that the peak of prices in
2008 was likely the peak of the new
price plateau. The peak occurred
when the rains wouldn’t stop, crops
weren’t planted, and news cover-
age of Midwestern floods blew their
impact out of proportion. Also, the
U.S. dollar was trading at a record
modern-time low value, oil prices
were shocking, and commodities
were the most profitable investment
class. The peak of 2008 was a classic
scenario. Textbooks should be writ-
ten about it.

Know Before You Grow^SM, an information service provided by National Corn Growers Association at www.ncga.com.

If the peak of the new price pla-

Growers should refer to Monsanto’s Technology

Use Guide for information on crop stewardship regarding the potential movement of pollen to neighboring crops. ALWAYS READ AND FOLLOW PESTICIDE LABEL DIRECTIONS. For more information call 1-866-SELLCORN. Know Before You Grow^SM is a service mark of National Corn Growers Association.