Speaking of Monsanto (2 posts back). . . Here’s some more news from the company about their investment plans related to corn production facilities.
Monsanto’s Board of Directors has approved a three-year, $610 million capital investment for the company’s U.S. corn production facilities. The investment plan includes expansions at nine existing corn production facilities, as well as two sites in the heart of the Corn Belt. This represents the largest reinvestment that Monsanto has made in its history as an ag company. Additional details related to the expansion have not been disclosed at this time.
Additionally, Monsanto posted projected trait acreage (pdf) for 2007. Final numbers for 2007 will be released this fall.
Also as part of today’s announcement, the company revised projections for future adoption of corn trait technologies by U.S. farmers. The company now estimates that:
— Glyphosate-tolerant corn has the potential to be grown on 80 million acres, up from its previous projection of 60 million acres;
— Corn borer insect protection has the potential to be grown on 60 to 70 million acres, up from its previously announced range of 50 to
60 million acres; and
— Rootworm insect protection and triple-trait corn technology now have the potential to be grown on 45 million acres, up
from its previously announced range of 25 to 30 million acres.