Quotes About BASF/Monsanto Project

The following are some quotes from a Dow Jones article by Laura Mandaro I found on my RBC Investment page. I will try and keep every thing in context.

"Monsanto, BASF In $1.5 Bln Union To Create GMO Seeds For Biofuels"


"SAN FRANCISCO (Dow Jones) -- U.S. seed company Monsanto Co. and German
chemical giant BASF Ag on Wednesday announced a $1.5 billion partnership to
develop more genetically modified crops to meet growing demand for
vegetable-based fuels."


""This is the Google dedicated to genetics," said BASF Chairman Jurgen
Hambrecht in a conference call to discuss the venture." Bold statement, at least we know Mr. Jurgen has a healthy ego


"As farmers seek richer harvests to meet expected demand for corn ethanol,
Monsanto anticipates farmers will expand their purchases of these
higher-yielding crop seeds. Monsanto has forecast 35% of U.S. corn seed sales
sold under its national brands could be in triple stack this year, up from about
20% last year. " Very aggressive projections. I understand Monsanto is overtaking Dupont/Pioneer as the main corn seed company in the states, so they have some basis for this

"On Wednesday, the two companies positioned their venture as a way to solve the
industrialized nations' growing desire to replace fossil fuels with ethanol and
other vegetable fuels made from the same crops now devoted to food." SPIN with an nod to the current trends

""The real dilemma will be how do you grow more with less," said Monsanto CEO
Hugh Grant."

"The companies said recent environmental mandates in the United States and
Europe to replace fossil fuels with vegetable oils will only up the ante on
farmers to increase crop production." Also mentioned were the 5% to 10% levels that governments are hoping to achieve


"Both companies are betting that competing demand for crops from food
manufacturers and energy companies will push farmers toward their genetically
altered seeds."

""The question farmers have to ask themselves is can they remain competitive
long term if they don't have access to the best tools," said Peter Oakley, a
member of BASF's board of directors." Spin to make the producer and the politicians think.