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Pharmacia Corp/DE · 10-K · For 12/31/93

Filed On 3/15/94 · SEC File 1-02516 · Accession Number 950114-94-43

  As Of               Filer                 Filing     On/For/As Docs:Pgs              Issuer               Agent

 3/15/94  Pharmacia Corp/DE                 10-K       12/31/93    7:107                                    950114

Annual Report · Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        1993 Form 10-K                                        30    192K 
 2: EX-13       Annual Report to Security Holders                     55±   240K 
 3: EX-21       Subsidiaries of the Registrant                         1      8K 
 4: EX-23       Consents                                               1      7K 
 5: EX-24.1     Powers of Attorney                                    18     73K 
 6: EX-24.2     Board Resolution                                       1      8K 
 7: EX-99.1     Computation of Ratios                                  1      9K

10-K · 1993 Form 10-K
Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (RTF, XML, et al.) Business Certain Relationships and Related Transactions Changes in and Disagreements With Accountants on Accounting and Financial Disclosure Directors and Executive Officers of the Registrant Executive Compensation Exhibits, Financial Statement Schedules, and Reports on Form 8-K Financial Statements and Supplementary Data Industry Segments; Principal Products Legal Proceedings Management's Discussion and Analysis of Financial Condition and Results of Operation Market for the Registrant's Common Equity and Related Stockholder Matters None NutraSweet Properties Security Ownership of Certain Beneficial Owners and Management Selected Financial Data Submission of Matters to a Vote of Security Holders
1	1st Page
2	Item 1. Business
"	Industry Segments; Principal Products
5	NutraSweet
10	Item 2. Properties
11	Item 3. Legal Proceedings
"	Item 4. Submission of Matters to a Vote of Security Holders
12	Item 5. Market for the Registrant's Common Equity and Related Stockholder Matters
"	Item 6. Selected Financial Data
"	Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation
"	Item 8. Financial Statements and Supplementary Data
"	Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
"	None
13	Item 10. Directors and Executive Officers of the Registrant
14	Item 11. Executive Compensation
"	Item 12. Security Ownership of Certain Beneficial Owners and Management
"	Item 13. Certain Relationships and Related Transactions
15	Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K

10-K 1st Page of 30 TOC Top Previous Next Bottom Just 1st
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1 9 9 3         

=============================================================================== 

FORM 10-K         

SECURITIES AND EXCHANGE COMMISSION          

WASHINGTON, D.C. 20549          

(MARK ONE)                                                            
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE              
SECURITIES EXCHANGE ACT OF 1934         

FOR THE FISCAL YEAR ENDED DECEMBER 31, 1993         
                 -----------------

OR          

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE             
SECURITIES EXCHANGE ACT OF 1934         

COMMISSION FILE NUMBER 1-2516         
              ------

MONSANTO COMPANY          
----------------          

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)          

DELAWARE                                      43-0420020                
--------                                      ----------                
(STATE OR OTHER JURISDICTION OF                 (I.R.S. EMPLOYER                
INCORPORATION OR ORGANIZATION)                 IDENTIFICATION NO.)              

800 NORTH LINDBERGH BLVD., ST. LOUIS, MO.                63167          
-----------------------------------------                -----          

(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)               (ZIP CODE)       

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (314) 694-1000         
                                          --------------

                                                                · Download Table
      SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:      


                                                  NAME OF EACH EXCHANGE
       TITLE OF EACH CLASS                         ON WHICH REGISTERED 
       -------------------                        ---------------------

                                                                       
COMMON STOCK $2 PAR VALUE                       NEW YORK STOCK EXCHANGE
PREFERRED STOCK PURCHASE RIGHTS                 NEW YORK STOCK EXCHANGE

SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:         

NONE          

INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL             
REPORTS REQUIRED TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES           
EXCHANGE ACT OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH                
SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS),          
AND (2) HAS BEEN SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90            
DAYS. YES  X    NO                                                              
----     ----                                               

INDICATE BY CHECK MARK IF DISCLOSURE OF DELINQUENT FILERS PURSUANT TO       
ITEM 405 OF REGULATION S-K IS NOT CONTAINED HEREIN, AND WILL NOT BE             
CONTAINED, TO THE BEST OF REGISTRANT'S KNOWLEDGE, IN DEFINITIVE PROXY           
OR INFORMATION STATEMENTS INCORPORATED BY REFERENCE IN PART III OF THIS         
FORM 10-K OR ANY AMENDMENT TO THIS FORM 10-K. [X]                               

STATE THE AGGREGATE MARKET VALUE OF THE VOTING STOCK HELD BY                
NONAFFILIATES OF THE REGISTRANT: APPROXIMATELY $9.1 BILLION AS OF THE           
CLOSE OF BUSINESS ON FEBRUARY 28, 1994.                                         

INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE REGISTRANT'S       
CLASSES OF COMMON STOCK, AS OF THE LATEST PRACTICABLE DATE: 118,614,871         
SHARES OF COMMON STOCK, $2 PAR VALUE, OUTSTANDING AT FEBRUARY 28, 1994.         

DOCUMENTS INCORPORATED BY REFERENCE         

1. PORTIONS OF MONSANTO COMPANY ANNUAL REPORT TO SECURITY HOLDERS FOR           
THE YEAR ENDED DECEMBER 31, 1993. (PARTS I AND II OF FORM 10-K.)          

2. PORTIONS OF MONSANTO COMPANY NOTICE OF ANNUAL MEETING AND PROXY              
STATEMENT DATED MARCH 14, 1994. (PART III OF FORM 10-K.)                  

=============================================================================== 

10-K 2nd Page of 30 TOC 1st Previous Next Bottom Just 2nd

PART I          

ITEM 1. BUSINESS.                                                               

Monsanto Company and its subsidiaries are engaged in the worldwide          
manufacture and sale of a widely diversified line of agricultural               
products; chemical products, including plastics and manufactured                
fibers; pharmaceuticals; and food products, including low-calorie               
sweeteners. Monsanto Company was incorporated in 1933 under Delaware            
law and is the successor to a Missouri corporation, Monsanto Chemical           
Works, organized in 1901. Unless otherwise indicated by the context,            
"Monsanto" means Monsanto Company and consolidated subsidiaries, and            
the "Company" means Monsanto Company only.                                      

RECENT DEVELOPMENTS                                                             

In May, 1993, Monsanto purchased the assets, including working              
capital, of the Ortho Consumer Products Division of Chevron Chemical            
Company. See "Principal Acquisitions and Divestitures" on page 44 of            
the 1993 Annual Report.                                                         

INDUSTRY SEGMENTS; PRINCIPAL PRODUCTS                                           

For 1993, Monsanto reported its business under four industry                
segments: The Agricultural Group, The Chemical Group, Searle, and               
NutraSweet. The first two segments constitute, respectively, the                
business of The Agricultural Group and The Chemical Group, both of              
which are operating units of Monsanto. Searle reflects the consolidated         
business of G. D. Searle & Co., and NutraSweet reflects the                     
consolidated business of The NutraSweet Company, both of which are              
wholly owned subsidiaries of the Company. The tabular information               
appearing under "Operating Unit Segment Data" and "Geographic Data" on          
pages 27 and 34 of the 1993 Annual Report is incorporated herein by             
reference.                                                                      

                                                        · Enlarge/Download Table
  The following is a list of principal products categorized by major                                                             
end-use markets within each industry segment:                                                                                    


THE AGRICULTURAL GROUP                                                                                                           
                                                    Major End-Use              Manufacturing              Major Raw Materials    
 Major End-Use Markets     Major Products      Products & Applications           Locations                   & Components        
 ---------------------     --------------      -----------------------         -------------              -------------------    

                                                                                                                                 
Agriculture            Roundup(R) herbicide    Multipurpose, non-      Alvin, TX; Antwerp, Belgium;   Disodiumiminodiacetate;    
                       and other glyphosate-   selective agricultural  Fayetteville, NC; Luling,      Phosphorus Trichloride     
                       based herbicides        and industrial          LA; Sao Jose dos Campos,                                  
                                               applications            Brazil                                                    
                       ----------------------------------------------------------------------------------------------------------
                       Lasso(R) herbicide and  Corn, soybean, peanut   Muscatine, IA                  Chloroacetyl Chloride;     
                       other acetanilide-based and milo (sorghum)                                     Diethylaniline             
                       herbicides              crops                                                                             
                       ----------------------------------------------------------------------------------------------------------
                       Avadex(R) BW herbicide; Wheat crops             Antwerp, Belgium;              Ammonium Thiocyanate;      
                       Far-Go(R) herbicide                             Muscatine, IA                  Diisopropylamine;          
                                                                                                      Trichloropropane           
---------------------------------------------------------------------------------------------------------------------------------
Residential            Roundup herbicide;      Herbicides,             Fort Madison, IA               Acephate; Chlorpyrifos;    
applications           Ortho(R) lawn-and-      insecticides,                                          Diazinon; Glyphosate;      
                       garden products         fungicides, and                                        Malathion; Triforine       
                                               fertilizers                                                                       
---------------------------------------------------------------------------------------------------------------------------------

                                    1                                                                                            

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THE CHEMICAL GROUP                                                                                                               
                                                               Fibers                                                            
                                                    Major End-Use              Manufacturing              Major Raw Materials    
 Major End-Use Markets     Major Products      Products & Applications           Locations                   & Components        
 ---------------------     --------------      -----------------------         -------------              -------------------    
Construction & Home    Acrilan(R) acrylic      Broadloom carpet        Decatur, AL; Greenwood, SC;    Acrylonitrile; Ammonia;    
Furnishings            fiber; nylon bulk                               Pensacola, FL                  Cyclohexane; Propylene     
                       continuous filament;                                                                                      
                       nylon carpet staple                                                                                       
---------------------------------------------------------------------------------------------------------------------------------
Personal Products      Acrilan acrylic fiber   Sweaters; half-hose;    Decatur, AL                    Acrylonitrile              
                                               active wear                                                                       
---------------------------------------------------------------------------------------------------------------------------------
Vehicles               Nylon filament; nylon   Tires; molding resins   Pensacola, FL                  Ammonia; Cyclohexane;      
                       polymer                 for auto grilles,                                      Propylene                  
                                               bumpers and gears                                                                 
---------------------------------------------------------------------------------------------------------------------------------

                                                        Performance Products                                                     

Personal Products      Detergent builders;     Laundry and dish        Augusta, GA; Newport, United   Benzene; Caustic Soda;     
                       industrial phosphates;  detergents; water       Kingdom; Ruabon, United        Phosphorus; Soda Ash       
                       dental phosphates       conditioners; non-gel   Kingdom; St. Louis, MO; Sao                               
                                               toothpaste              Jose dos Campos, Brazil;                                  
                                                                       Soda Springs, ID; Trenton,                                
                                                                       MI                                                        
---------------------------------------------------------------------------------------------------------------------------------
Chemicals              Industrial phosphates;  Metal treating,         Augusta, GA; Luling, LA; St.   Ammonia; Chlorine;         
                       phosphoric acid;        cleaning and etching;   Louis, MO; Sauget, IL;         Phosphorus; Soda Ash;      
                       phosphorus              plant food fertilizers; Trenton, MI                    Sulphur                    
                       pentasulfide;           oil additives;                                                                    
                       phosphorus trichloride  herbicides                                                                        
---------------------------------------------------------------------------------------------------------------------------------
Capital Equipment      Diphenyl oxide;         Heat transfer fluids    Alvin, TX; Anniston, AL;       Benzene; Phenol            
                       polyphenyls                                     Newport, United Kingdom                                   
                       ----------------------------------------------------------------------------------------------------------
                       Water treatment         Scale inhibitors; oil   Newport, United Kingdom        Phosphorus Trichloride     
                       chemicals               field chemicals                                                                   
---------------------------------------------------------------------------------------------------------------------------------
Food                   Food additives          Bakery; dairy; meat     St. Louis, MO; Sao Jose dos    Caustic Soda; Lime;        
                                                                       Campos, Brazil; Trenton, MI    Phosphorus                 
---------------------------------------------------------------------------------------------------------------------------------
Vehicles               Hydraulic fluids and    Hydraulic fluid for     St. Louis, MO                  Phosphorus Oxychloride     
                       lubricants              commercial aircraft                                                               
---------------------------------------------------------------------------------------------------------------------------------
Construction & Home    Ammonium polyphosphate  Fire retardant coating;                                Phosphorus                 
Furnishings                                    polymer additives                                                                 
---------------------------------------------------------------------------------------------------------------------------------

                                                              Plastics                                                           

Personal Products      Centrex(R) polymers;    Toys; boats; tools;     Addyston, OH; Antwerp,         Acrylonitrile; Butadiene;  
                       Lustran(R) ABS and SAN  housewares; consumer    Belgium; LaSalle, Quebec,      Maleic Anhydride; Nylon    
                       thermoplastics;         electronics; business   Canada; Muscatine, IA;         Salt; Styrene              
                       Triax(R) thermoplastic  machines; cosmetic      Pensacola, FL                                             
                       alloys; Vydyne(R) nylon packaging; personal                                                               
                       molding resins          care items; spas and                                                              
                                               hot tubs; food                                                                    
                                               processing; medical                                                               
                                               appliances                                                                        
---------------------------------------------------------------------------------------------------------------------------------
Vehicles               Lustran ABS and SAN     Automotive interior and Addyston, OH; Antwerp,         Acrylonitrile; Butadiene;  
                       thermoplastics; Vydyne  exterior molded parts;  Belgium; LaSalle, Quebec,      Maleic Anhydride; Nylon    
                       nylon molding resins;   under-the-hood          Canada; Muscatine, IA;         Salt; Styrene              
                       Cadon(R)                applications;           Pensacola, FL                                             
                       thermoplastics; Triax   automotive aftermarket;                                                           
                       thermoplastic alloys;   transportation                                                                    
                       Centrex polymers                                                                                          
---------------------------------------------------------------------------------------------------------------------------------
Construction & Home    Lustran ABS             Drain pipe;             Addyston, OH; Antwerp,         Acrylonitrile; Butadiene;  
Furnishings            thermoplastics; Triax   refrigeration;          Belgium; LaSalle, Quebec,      Maleic Anhydride; Styrene  
                       thermoplastic alloys    telecommunications      Canada; Muscatine, IA                                     
---------------------------------------------------------------------------------------------------------------------------------

                                    2                                                                                            

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THE CHEMICAL GROUP (CONT'D)                                                                                                      
                                                               Resins                                                            
                                                    Major End-Use              Manufacturing              Major Raw Materials    
 Major End-Use Markets     Major Products      Products & Applications           Locations                   & Components        
 ---------------------     --------------      -----------------------         -------------              -------------------    
Vehicles               Saflex(R) plastic       Windshields             Ghent, Belgium; Indian         Butyraldehyde; Ethanol;    
                       interlayer                                      Orchard, MA; Sao Jose dos      Polyvinyl Alcohol; Vinyl   
                                                                       Campos, Brazil; Trenton, MI    Acetate Monomer            
                       ----------------------------------------------------------------------------------------------------------
                       Specialty resins;       Automotive coatings and Addyston, OH; Antwerp,         Butanol; Chlorine;         
                       polymer modifiers       sealants                Belgium; Bridgeport, NJ;       Formaldehyde; Melamine;    
                                                                       Indian Orchard, MA; LaSalle,   Methanol; Phthalic         
                                                                       Quebec, Canada                 Anhydride; Toluene         
---------------------------------------------------------------------------------------------------------------------------------
Construction & Home    Saflex plastic          Architectural glass     Ghent, Belgium; Indian         Butyraldehyde; Ethanol;    
Furnishings            interlayer                                      Orchard, MA; Sao Jose dos      Polyvinyl Alcohol; Vinyl   
                                                                       Campos, Brazil; Trenton, MI    Acetate Monomer            
                       ----------------------------------------------------------------------------------------------------------
                       Specialty resins        Coatings and adhesives  Addyston, OH; Alvin, TX;       Acrylate Esters; Butanol;  
                                                                       Indian Orchard, MA; LaSalle,   Formaldehyde; Melamine;    
                                                                       Quebec, Canada; Trenton, MI    Methanol; Vinyl Acetate    
                                                                                                      Monomer                    
                       ----------------------------------------------------------------------------------------------------------
                       Polymer modifiers       Vinyl flooring; caulks  Antwerp, Belgium;              Butanol; Chlorine;         
                                               and sealants;           Bridgeport, NJ; LaSalle,       2-Ethylhexanol; Phenol;    
                                               adhesives; coatings;    Quebec, Canada                 Phthalic Anhydride; Toluene
                                               wall covering; vinyl                                                              
                                               upholstery; insulation;                                                           
                                               furniture                                                                         
---------------------------------------------------------------------------------------------------------------------------------
Personal Products      Polymer modifiers       Packaging               Antwerp, Belgium;              Butanol; Chlorine; Phthalic
                                                                       Bridgeport, NJ; LaSalle,       Anhydride; Toluene         
                                                                       Quebec, Canada                                            
---------------------------------------------------------------------------------------------------------------------------------
Other                  A variety of resin      Electronics; paper;     Addyston, OH; Indian           Acrylate Esters;           
                       products                graphics; coatings;     Orchard, MA; LaSalle,          Butyraldehyde; Ethanol;    
                                               medical devices;        Quebec, Canada                 Formaldehyde; Maleic       
                                               packaging; solvents                                    Anhydride; Melamine;       
                                                                                                      Methanol; Vinyl Acetate    
                                                                                                      Monomer                    
---------------------------------------------------------------------------------------------------------------------------------

                                                    Rubber and Process Chemicals                                                 

Vehicles               Santocure(R) CBS,       Tires; tubes; belts;    Antwerp, Belgium; Newport,     Aniline; Carbon Disulfide; 
                       Santocure MOR,          hoses; retreads; mats   United Kingdom; Nitro, WV;     Para-Nitrochlorobenzene;   
                       Santocure NS,                                   Ruabon, United Kingdom;        Tertiary-Butylamine        
                       Santocure TBSI,                                 Sauget, IL                                                
                       Santoflex(R) 13,                                                                                          
                       Santogard(R) PVI                                                                                          
                       rubber processing                                                                                         
                       chemicals (accelerators                                                                                   
                       and antidegradants)                                                                                       
---------------------------------------------------------------------------------------------------------------------------------
Construction & Home    Flectol(R),             Roofing; flooring;      Antwerp, Belgium; Newport,     Aniline; Carbon Disulfide; 
Furnishings            Santocure CBS,          tape; industrial hose   United Kingdom; Nitro, WV;     Tertiary-Butylamine        
                       Santocure MOR,                                  Ruabon, United Kingdom;                                   
                       Santocure NS,                                   Sauget, IL                                                
                       Santocure TBSI                                                                                            
                       rubber processing                                                                                         
                       chemicals (antioxidants                                                                                   
                       and accelerators)                                                                                         
---------------------------------------------------------------------------------------------------------------------------------
Chemicals              Nitrochlorobenzene      Dyes; pigments; rubber  Anniston, AL; Newport,         Benzene; Caustic Soda;     
                       derivatives; Sodium MBT preservatives;          United Kingdom; Nitro, WV;     Chlorine                   
                                               engineering             Sauget, IL                                                
                                               thermoplastics;                                                                   
                                               pesticides; antifreeze;                                                           
                                               water treatment                                                                   
---------------------------------------------------------------------------------------------------------------------------------

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THE CHEMICAL GROUP (CONT'D)                                                                                                      
                                               Rubber and Process Chemicals (Cont'd)                                             
                                                    Major End-Use              Manufacturing              Major Raw Materials    
 Major End-Use Markets     Major Products      Products & Applications           Locations                   & Components        
 ---------------------     --------------      -----------------------         -------------              -------------------    
Other                  Monochlorobenzene;      Pesticides              Anniston, AL; Sauget, IL       Benzene; Caustic Soda;     
                       Nitrochlorobenzene                                                             Chlorine                   
                       derivatives                                                                                               
---------------------------------------------------------------------------------------------------------------------------------

                                                        Engineered Products                                                      

Capital Equipment      Sulfuric acid and       Process plants          On-Site Construction           Various Construction       
                       process plants (design                                                         Components                 
                       and construction); air                                                                                    
                       emission control                                                                                          
                       systems                                                                                                   
---------------------------------------------------------------------------------------------------------------------------------
Construction & Home    Doormats                Doormats                Ghent, Belgium;                Polyethylene               
Furnishings                                                            St. Louis, MO                                             
---------------------------------------------------------------------------------------------------------------------------------

SEARLE                                                                                                                           

Pharmaceuticals        Maxaquin(R)             Anti-infective          Augusta, GA; Caguas, Puerto    Trifluoroaniline           
                       (Lomefloxacin HCl)                              Rico; Evreux, France                                      
                       ----------------------------------------------------------------------------------------------------------
                       Daypro(R) (Oxaprozin);  Anti-inflammatory       Augusta, GA; Caguas,Puerto     Benzoin;                   
                       Arthrotec(R)                                    Rico; Morpeth, United          Misoprostol/Diclofenac     
                       (Misoprostol/Diclofenac)                        Kingdom                                                   

                       ----------------------------------------------------------------------------------------------------------
                       Aldactone(R)            Cardiovascular          Augusta, GA; Caguas, Puerto    Androstenedione/           
                       (Spironolactone);                               Rico; Evreux, France;          Hydrochlorothiazide;       
                       Aldactazide(R)                                  Morpeth, United Kingdom        Verapamil HCl              
                       (Spironolactone/                                                                                          
                       Hydrochlorothiazide);                                                                                     
                       Calan(R) formulations                                                                                     
                       (Verapamil HCl)                                                                                           
                       ----------------------------------------------------------------------------------------------------------
                       Oral contraceptives     Fertility control       Caguas, Puerto Rico;           Delta 4 (19-Norandro-      
                                                                       Morpeth, United Kingdom        stenedione)                
                       ----------------------------------------------------------------------------------------------------------
                       Cytotec(R)              Gastrointestinal        Caguas, Puerto Rico; Coapa,    Norprostol                 
                       (Misoprostol)                                   Mexico; Morpeth, United                                   
                                                                       Kingdom                                                   
                       ----------------------------------------------------------------------------------------------------------
                       Ambien(R) (Zolpidem     Central nervous system  Caguas, Puerto Rico            Zolpidem                   
                       Tartrate)                                                                                                 
---------------------------------------------------------------------------------------------------------------------------------
Food (ex-U.S. only)    Canderel(R) tabletop    Low-calorie tabletop    Evreux, France; Morpeth,       Aspartame                  
                       sweetener; Equal(R)     sweetener               United Kingdom                                            
                       tabletop sweetener                                                                                        
---------------------------------------------------------------------------------------------------------------------------------

NUTRASWEET                                                                                                                       

Food                   NutraSweet(R) brand     High-intensity          Augusta, GA; Harbor Beach,     Aspartic Acid;             
                       sweetener               sweetener available     MI; University Park, IL        L-Phenylalanine            
                                               primarily in beverages,                                                           
                                               dessert products and                                                              
                                               tabletop sweeteners                                                               
                       ----------------------------------------------------------------------------------------------------------
                       Equal tabletop          Low-calorie tabletop    Manteno, IL                    Aspartame                  
                       sweetener;              sweeteners                                                                        
                       NutraSweet(R)                                                                                             
                       Spoonful(TM) tabletop                                                                                     
                       sweetener                                                                                                 
                       ----------------------------------------------------------------------------------------------------------
                       Simplesse(R) all        All natural fat                                        Whey protein concentrate   
                       natural fat substitute  substitute for use                                                                
                                               primarily in dairy                                                                
                                               products                                                                          
---------------------------------------------------------------------------------------------------------------------------------

4       

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SALE OF PRODUCTS                                                                

Monsanto's products are sold directly to customers in various               
industries, to wholesalers and other distributors and jobbers, to               
retailers and to the ultimate consumer, principally by its own sales            
force, or, in some cases, through third parties. With respect to                
pharmaceuticals, such sales force concentrates on detailing to                  
physicians and managed health care providers. As indicated on page 35           
of the 1993 Annual Report, Monsanto's net income is historically higher         
during the first half of the year, primarily because of the                     
concentration of generally more profitable sales of The Agricultural            
Group during that part of the year. Monsanto's marketing and                    
distribution practices do not result in unusual working capital                 
requirements on a consolidated basis, although the seasonality of sales         
of The Agricultural Group segment sometimes results in short-term               
borrowings to finance the customer accounts receivable and inventories.         
Inventories of finished goods, goods in process and raw materials are           
maintained to meet customer requirements and Monsanto's scheduled               
production. In general, Monsanto does not manufacture its products              
against a backlog of firm orders; production is geared primarily to the         
level of incoming orders and to projections of future demand. Monsanto          
generally is not dependent upon one or a group of customers. The                
NutraSweet segment, however, makes a majority of its sales to a few             
companies for use in carbonated soft drinks. Monsanto has no material           
contracts with the government of the United States or any state, local          
or foreign government. However, pursuant to contracts executed under            
U.S. federal and state laws, Monsanto's Searle segment pays rebates to          
state governments for pharmaceuticals sold under state Medicaid                 
programs and under state-funded programs for the indigent. The Searle           
segment also grants discounts to certain managed health care providers.         

Introduction of new products by The Agricultural Group, Searle and          
NutraSweet segments is typically subject to prior review and approval           
by the U.S. Food & Drug Administration, the U.S. Environmental                  
Protection Agency and/or the U.S. Department of Agriculture (or                 
comparable agencies of ex-U.S. governments) before they can be sold.            
Such reviews are often time-consuming and costly. These agencies also           
have continuing jurisdiction over many existing products of these               
segments.                                                                       

RAW MATERIALS AND ENERGY RESOURCES                                              

Monsanto is both a producer and significant purchaser of a wide             
spectrum of its basic and intermediate raw material requirements. Major         
requirements for key raw materials and fuels are typically purchased            
pursuant to long-term contracts. Monsanto is not dependent on any one           
supplier for a material amount of its raw materials or fuel                     
requirements, but certain important raw materials are obtained from a           
few major suppliers. In general, where Monsanto has limited sources of          
raw materials, it has developed contingency plans to minimize the               
effect of any interruption or reduction in supply. Information with             
respect to specific raw materials is set forth in the table above under         
"Industry Segments; Principal Products."                                        

While temporary shortages of raw materials and fuels may occasionally       
occur, these items are sufficiently available to cover current and              
projected requirements. However, their continuing availability and              
price are subject to unscheduled plant interruptions occurring during           
periods of high demand, or due to domestic and world market and                 
political conditions, as well as to the direct or indirect effect of            
U.S. and other countries' government regulations. The impact of any             
future raw material and energy shortages on Monsanto's business as a            
whole or in specific world areas cannot be accurately predicted.                
Operations and products may, at times, be adversely affected by                 
legislation, shortages or international or domestic events.                     

PATENTS, TRADEMARKS, LICENSES, FRANCHISES AND CONCESSIONS                       

Monsanto owns a large number of patents which relate to a wide              
variety of products and processes, has pending a substantial number of          
patent applications, and is licensed under a small number of patents of         
others. Also, Monsanto owns a considerable number of established                
trademarks in many countries under which it markets its products.               
Monsanto's patents and trademarks in the aggregate are of material              
importance in the operation of its business, particularly in The                
Agricultural Group and Searle segments and with respect to                      
NutraSweet(R) brand sweetener. Certain proprietary products such as             
Roundup(R)                                                                      
5       

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herbicide are covered by patents. Although patents protecting                   
Roundup(R) herbicide have now expired in most countries, compound per           
se patent protection for the active ingredient in Roundup herbicide             
continues in the United States into the year 2000. All patents covering         
the use of aspartame as a sweetener have expired. NutraSweet(R) brand           
sweetener is currently manufactured under several patents owned by The          
NutraSweet Company and patented processes licensed from a third party           
for the duration of the applicable patents. Calan(R) SR, an                     
antihypertensive pharmaceutical, is licensed through the year 2004 to           
Searle by a third party, which has retained co-marketing rights. The            
product no longer has patent protection nor non-patent market                   
exclusivity conferred by the Waxman-Hatch amendments to the U.S. Food,          
Drug and Cosmetics Act.                                                         

The trademarks "Equal(R)," "Canderel(R)" and "NutraSweet" and the           
NutraSweet symbol are protected by registration in the United States            
and in other countries where the products are marketed.                         

Roundup herbicide, Calan SR antihypertensive and NutraSweet brand           
sweetener are each substantial contributors to earnings.                        

Monsanto holds (directly or by assignment) numerous phosphate leases,       
which were issued on behalf of or granted by the United States,                 
political subdivisions of various states, or private parties. None of           
these leases taken individually is deemed by Monsanto to be material,           
although Monsanto's phosphate leases in the aggregate are significant           
to The Chemical Group segment of its business. Monsanto's phosphate             
leases have varying terms, with leases obtained from the United States          
being of indefinite duration subject to the modification of lease terms         
at twenty-year intervals.                                                       

COMPETITION                                                                     

Monsanto encounters substantial competition in each of its industry         
segments. This competition, from other manufacturers of the same                
products and from manufacturers of different products designed for the          
same uses, is expected to continue in both U.S. and ex-U.S. markets.            
Depending on the product involved, various types of competition are             
encountered, including price, delivery, service, performance, product           
innovation, product recognition and quality.                                    

The number of Monsanto's principal competitors varies from product to       
product. It is not practical to discuss Monsanto's numerous competitors         
because of the large variety of Monsanto's products, the markets served         
and the worldwide business interests of Monsanto. Overall, however,             
Monsanto regards its principal product groups to be competitive with            
many other products of other producers and believes that it is an               
important producer of many of such product groups.                              

RESEARCH AND DEVELOPMENT                                                        

Research and development constitute an important part of Monsanto's         
activities. See "Operating Unit Segment Data" on page 27 of the 1993            
Annual Report, incorporated herein by reference.                                

ENVIRONMENTAL MATTERS                                                           

Monsanto is subject to various laws and government regulations              
concerning environmental matters, employee safety and employee health           
in the United States and other countries. It is anticipated that                
increasingly stringent requirements will be imposed upon Monsanto, its          
competitors and industry in general. U.S. federal environmental                 
legislation having particular impact on Monsanto includes the Toxic             
Substances Control Act; the Federal Insecticide, Fungicide and                  
Rodenticide Act; the Resource Conservation and Recovery Act; the Clean          
Air Act; the Clean Water Act; the Safe Drinking Water Act; and the              
Comprehensive Environmental Response, Compensation and Liability Act            
("CERCLA," commonly known as "Superfund"), as amended by the Superfund          
Amendments and Reauthorization Act ("SARA"). Monsanto is also subject           
to the Occupational Safety and Health Act and regulations of the                
Occupational Safety and Health Administration ("OSHA") concerning               
employee safety and health matters. The Environmental Protection Agency         
("EPA"), OSHA and other federal agencies have the authority to                  
promulgate regulations which have an impact on Monsanto's operations.           
In addition to these federal activities, various states have been               
delegated certain authority under the aforementioned federal                    
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statutes. Many state and local governments have adopted environmental           
and employee safety and health laws and regulations, some of which are          
similar to federal requirements. State and federal authorities may seek         
fines and penalties for violation of these laws and regulations.                

Monsanto is dedicated to a long-term environmental protection program       
that reduces emissions of hazardous materials into the environment, as          
well as to the remediation of identified existing environmental                 
concerns. In 1988, management committed to a 90 percent reduction in            
toxic air emissions from worldwide operations by the end of 1992,               
including emissions reportable in the U.S. under Title III of SARA. The         
reduction achieved was 92 percent, based on 1992 year-end operating             
rates. The cost to accomplish this target did not materially affect             
operating results. In fact, some of the target capital projects lowered         
operating costs and improved operating efficiency.                              

Expenditures in 1993 were approximately $53 million for environmental       
capital projects and approximately $234 million for management of               
environmental programs, including the operation and maintenance of              
facilities for environmental control. Monsanto estimates that during            
1994 and 1995 approximately $40 million-$70 million per year will be            
spent on additional capital projects for environmental protection.              

Monsanto periodically receives notices from the EPA that it is a            
potentially responsible party ("PRP") under Superfund. The EPA has              
designated Monsanto as a PRP at 89 Superfund sites. Monsanto has                
resolved disputes, entered partial consent decrees, and executed                
administrative orders between Monsanto and the EPA in 41 of these               
cases, settling a portion or all of Monsanto's liability for these              
Superfund cases. Six other matters involve sites where allegations are          
predicated on tentative findings of reuse of drums by others that once          
contained products sold by Monsanto. These six matters have been                
inactive as to Monsanto for at least nine years. At one other site,             
Monsanto has determined that it has no liability whatsoever.                    

Monsanto's policy is to accrue costs for remediation of waste               
disposal sites in the accounting period in which the responsibility is          
established and the cost is estimable. Monsanto's estimates of its              
liabilities for Superfund sites are based on evaluations of currently           
available facts with respect to each individual site and take into              
consideration factors such as existing technology, presently enacted            
laws and regulations, and prior experience in remediation of                    
contaminated sites. These liabilities have not been reduced for any             
claims for recoveries from insurance or from third parties. However,            
Monsanto is engaged in litigation with some of its insurance carriers           
regarding both the applicability and the amount of its coverage                 
responsive to claims for damages at these sites. Monsanto has an                
accrued liability of $102 million as of December 31, 1993, for                  
Superfund sites. As assessments and remediation activities progress at          
individual sites, these liabilities are reviewed periodically and               
adjusted to reflect additional technical, engineering and legal                 
information that becomes available. Major sites in this category                
include the noncompany-owned Brio, Fike/Artel, Motco and Woburn sites           
which account for $83 million of the accrued amount.                            

Monsanto's estimate of its Superfund liability is affected by several       
uncertainties such as, but not limited to, the method and extent of             
remediation, the percentage of material attributable to Monsanto at the         
sites relative to that attributable to other parties, and the financial         
capabilities of the other PRPs at most sites. Due to these                      
uncertainties, primarily related to the method and extent of                    
remediation, potential future expenses could be as much as $30 million          
for these sites. These potential future expenses may be incurred over           
the balance of the decade.                                                      

There are various other lawsuits, claims and proceedings that state         
agencies and others have asserted against the Company seeking                   
remediation of alleged environmental impairments. Monsanto is in the            
process of determining its involvement, if any, at 44 of these sites.           
Monsanto has an accrued liability of $131 million as of December 31,            
1993, for these matters and for environmental reserves at certain               
former Monsanto plant sites. The Company's estimate of its liability            
related to these sites is affected by several uncertainties such as,            
but not limited to, the extent of Monsanto's involvement, and the               
method and extent of remediation. Due to these uncertainties, potential         
future expenses could be as much as $70 million for these sites. Four           
sites in this category account for $63 million of the accrued amount            
and for approximately $60 million of the potential future expenses.             
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Monsanto spent $39 million in 1993 for remediation of Superfund and         
other waste disposal sites. Most of these expenditures related to The           
Chemical Group, and similar or greater amounts can be expected in               
future years.                                                                   

For operational facilities, Monsanto recognizes post-closure                
environmental costs and site remediation costs over the estimated               
remaining useful life of the related facilities, not to exceed 20               
years. Monsanto spent $14 million in 1993 for remediation of these              
facilities and has an accrued liability of $33 million as of December           
31, 1993, for these sites. Uncertainties related to these costs are             
evolving government regulations, the method and extent of remediation,          
and future changes in technology. Monsanto's estimated closure costs            
for these plant sites are approximately $150 million.                           

While the ultimate costs and results of remediation of waste disposal       
sites cannot be predicted with certainty, management believes that              
Monsanto's liquidity and profitability in any one year will not be              
materially affected.                                                            

EMPLOYEE RELATIONS                                                              

As of December 31, 1993, Monsanto had approximately 30,000 employees        
worldwide. Satisfactory relations have prevailed between Monsanto and           
its employees.                                                                  

INTERNATIONAL OPERATIONS                                                        

Monsanto and affiliated companies are engaged in manufacturing, sales       
and/or research and development in the United States, Europe, Canada,           
Latin America, Australia, Asia and Africa. A large number of products           
are manufactured abroad. Monsanto's ex-U.S. operations are subject to a         
number of potential risks and limitations, such as: fluctuations in             
currency values; exchange control regulations; wage and price controls;         
approvals of therapeutic claims and pricing for pharmaceutical and              
other products; governmental regulation of food ingredients,                    
agricultural and pharmaceutical products and biotechnology; employment          
regulations; import, export and trade restrictions, including                   
embargoes; raw material supply constraints; governmental instability,           
civil disorders, civil wars and other hostilities; and other                    
potentially detrimental domestic and foreign governmental practices or          
policies affecting U.S. companies doing business abroad. See                    
"Geographic Data" on page 34 of the 1993 Annual Report, incorporated            
herein by reference.                                                            

LEGAL PROCEEDINGS                                                               

Because of the size and nature of its business, Monsanto is a party         
to numerous legal proceedings. Most of these proceedings have arisen in         
the ordinary course of business and involve claims for money damages.           
While the results of litigation cannot be predicted with certainty,             
Monsanto does not believe these matters or their ultimate disposition           
will have a material adverse effect on Monsanto's financial position.           

On April 12, 1985, the Company was named as a defendant in the first        
of a number of lawsuits in which plaintiffs claim injuries resulting            
from alleged exposure to substances present at or emanating from the            
Brio Superfund site near Houston, Texas. The Company is one of a number         
of companies that had sold materials to the chemical reprocessor at             
that site. Currently pending against the Company are the following              
matters: (a) The Company is one of a number of defendants in 14 cases           
brought in Harris County District Court on behalf of 751 plaintiffs who         
own homes or live in the Southbend or Sageglen subdivisions, attended           
school in the Southbend subdivision, or used nearby recreational                
baseball fields. Plaintiffs claim to have suffered various personal             
injuries and fear future disease; the need for medical monitoring; and,         
in the case of the homeowners, property damage. In addition to their            
claims of personal injury, four plaintiffs in one of these cases allege         
business losses. Plaintiffs seek compensatory and punitive damages in           
an unspecified amount. (b) The Company is also a defendant in two               
additional cases brought in Harris County District Court. The first             
case is brought by two recreational baseball leagues which claim to             
have suffered property damage and consequential damages. Plaintiffs             
seek compensatory and punitive damages in an unspecified amount. The            
second case is brought on behalf of the Clear Creek Independent School          
District for property damage and consequential damages. Plaintiff seeks         
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compensatory and punitive damages in an unspecified amount. (c) The             
Company is one of a number of defendants in two additional actions              
brought in Harris County District Court by 407 plaintiffs, who are              
former employees of the owners/operators of the Brio site, persons who          
worked near the Brio site, Sageglen subdivision residents, and members          
of the employees' and residents' families. Plaintiffs claim physical            
and emotional injury and seek compensatory and punitive damages in an           
unspecified amount. The Company believes that it has meritorious                
defenses to all of these lawsuits including lack of proximate cause,            
lack of negligent or other improper conduct on the part of the Company,         
and negligence of plaintiffs (or their parents) and/or of builders and          
developers of the Southbend subdivision. The Company is vigorously              
defending these actions.                                                        

In 1974, Searle introduced in the United States an intrauterine             
contraceptive product, commonly referred to as an intrauterine device           
("IUD"), under the name Cu-7(R). Following extensive testing by Searle          
and review by the FDA, the Cu-7 was approved for sale as a prescription         
drug. Searle has been named a defendant in a number of product                  
liability lawsuits alleging that the Cu-7 caused personal injury                
resulting from pelvic inflammatory disease, perforation, pregnancy or           
ectopic pregnancy. As of March 1, 1994, there were approximately 124            
cases pending in various U.S. state and federal courts and                      
approximately 361 cases filed outside the United States (the vast               
majority in Australia). The lawsuits seek damages in varying amounts,           
including compensatory and punitive damages, with most suits seeking at         
least $50,000 in damages. Searle believes it has meritorious defenses           
and is vigorously defending each of these lawsuits. On January 31,              
1986, Searle voluntarily discontinued the sale of the Cu-7 in the               
United States, citing the cost of defending such litigation.                    

The Company registered, on June 27, 1991, for the Compliance Audit          
Program ("CAP") administered by the EPA under the authority of Section          
8(e) of the Toxic Substances Control Act ("TSCA"). It has been reported         
that over 120 companies in the United States registered for the CAP.            
The CAP requires registrants to audit health and environmental effect           
information in order to determine whether information in the                    
registrant's possession is reportable to the EPA under TSCA Section             
8(e). A registrant's liability, under the CAP, for late reporting of            
information under TSCA 8(e), will be assessed on the basis of a set             
amount per study submitted with the total liability not to exceed               
$1,000,000. The Company voluntarily entered into a similar Consent              
Agreement with the EPA before the CAP, and under that Agreement                 
performed a more limited audit than is required by the CAP and paid a           
settlement of $648,000. This settlement amount has been credited to the         
Company under the CAP. It has now been determined that the Company's            
remaining liability under the CAP will be $352,000.                             

RISK MANAGEMENT                                                                 

Monsanto continually evaluates risk retention and insurance levels          
for product liability, property damage and other potential areas of             
risk. Monsanto devotes significant effort to maintaining and improving          
safety and internal control programs, which reduce its exposure to              
certain risks. Based on the cost and availability of insurance and the          
likelihood of a loss, management determines the amount of insurance             
coverage to be purchased from unaffiliated companies and the                    
appropriate amount of risk to retain. Since 1986, Monsanto's liability          
insurance has been on the "claims made" policy form. Management                 
believes that the current levels of risk retention are consistent with          
those of other companies in the various industries in which Monsanto            
operates. There can be no assurance that Monsanto will not incur losses         
beyond the limits of, or outside the coverage of, its insurance.                
However, Monsanto's liquidity, financial position and profitability are         
not expected to be affected materially by the levels of risk retention          
that the Company accepts.                                                       

ITEM 2. PROPERTIES.                                                             

The General Offices of the Company are located on a 285-acre tract of       
land in St. Louis County, Missouri. The Company also owns a 210-acre            
tract in St. Louis County on which additional research facilities are           
located. Monsanto also has research laboratories and technical centers          
throughout the world. Information with respect to Monsanto's                    
manufacturing locations worldwide and the industry                              
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segments which use such plants as of January 1, 1994, is set forth under        
"Business-Industry Segments; Principal Products" in Item 1 of this Report,      
which is incorporated herein by reference.                                      

Monsanto's principal plants are suitable and adequate for their use.        
Utilization of these facilities may vary with seasonal, economic and            
other business conditions, but none of the principal plants is                  
substantially idle. The facilities generally have sufficient capacity           
for existing needs and expected near-term growth. Most of these plants          
are owned in fee. However, the land at the Antwerp, Belgium plant is            
leased. In addition, a portion of a plant at Augusta, Georgia is                
currently leased with an option to purchase, pursuant to an industrial          
revenue bond financing. The Company has granted leases, with options to         
purchase, on approximately 366 acres of the 3,000 acres at the Alvin,           
Texas plant site. In limited instances, Monsanto has granted leases on          
portions of other plant sites not required for current operations.              

ITEM 3. LEGAL PROCEEDINGS.                                                      

For information concerning certain legal proceedings involving              
Monsanto, see "Business-Environmental Matters" and "Business-Legal              
Proceedings" contained in Item 1 of this Report.                                

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.                    

No matters were submitted to the security holders during the fourth         
quarter of 1993.                                                                

EXECUTIVE OFFICERS OF THE REGISTRANT.                                           

Information regarding executive officers is contained in Item 10 of         
Part III of this Report (General Instruction G) and is incorporated             
herein by reference.                                                            
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PART II         

ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED                   
STOCKHOLDER MATTERS.                                            

The narrative or tabular information regarding the market for the           
Company's common equity and related stockholder matters appearing under         
"Review of Cash Flow" on pages 39 through 41 and "Quarterly Data" on            
page 35 of the 1993 Annual Report is incorporated herein by reference.          

ITEM 6. SELECTED FINANCIAL DATA.                                                

The tabular information under "Financial Summary-Operating Results,         
Earnings per Share and Year-End Financial Position" and the amounts of          
Dividends per Share, all appearing on page 52 of the 1993 Annual                
Report, are incorporated herein by reference.                                   

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND         
RESULTS OF OPERATION.                                           

The tabular and narrative information appearing under "Review of            
Consolidated Results of Operations" on pages 23 through 26, "Operating          
Unit Segment Data" on pages 27 through 33, "Review of Changes in                
Financial Position" on page 37, and "Review of Cash Flow" on pages 39           
through 41 of the 1993 Annual Report is incorporated herein by                  
reference.                                                                      

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.                            

The consolidated financial statements of Monsanto appearing on pages        
22, 36, 38, 42 and 43 through 51; the Independent Auditors' Opinion             
appearing on page 21; and the tabular and narrative information                 
appearing under "Quarterly Data" on page 35 of the 1993 Annual Report           
are incorporated herein by reference.                                           

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND         
FINANCIAL DISCLOSURE.                                           

None.                                                                       
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PART III          

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.                    

                                                        · Enlarge/Download Table

  Information regarding directors and executive officers appearing                                                                  
under "Election of Directors" on pages 2 through 4 of the Monsanto                                                                  
Company Notice of Annual Meeting and Proxy Statement (the "1994 Proxy                                                               
Statement") dated March 14, 1994, is incorporated herein by reference.                                                              
The following information with respect to the Executive Officers of the                                                             
Company on March 1, 1994, is included pursuant to Instruction 3 of Item                                                             
401(b) of Regulation S-K:                                                                                                           


                                                                   Year First                                                       
                                                                   Became an                                                        
                                                                   Executive                                                        
        Name - Age              Present Position with Registrant    Officer     Other Business Experience since January 1, 1989     
---------------------------    ----------------------------------  ---------- ---------------------------------------------------   

                                                                                                                                    
Richard W. Duesenberg, 63      Senior Vice President,                 1977    Present position, 1982.                               
                               Secretary and General Counsel-                                                                       
                               Monsanto Company                                                                                     
Robert E. Flynn, 60            Chairman and Chief Executive           1987    Chairman, Chief Executive Officer and President,      
                               Officer, The NutraSweet Company                Fisher Controls International, Inc. (a former         
                               (a subsidiary of the Company);                 subsidiary of the Company), 1988; Chairman and Chief  
                               Advisory Director-Monsanto                     Executive Officer, The NutraSweet Company, 1990; and  
                               Company                                        present position, 1993.                               
Sheldon G. Gilgore, 62         Chairman and Chief Executive           1987    Chairman, President and Chief Executive Officer, G. D.
                               Officer, G. D. Searle & Co. (a                 Searle & Co., 1986; Chairman and Chief Executive      
                               subsidiary of the Company);                    Officer, G. D. Searle & Co., 1991; and present        
                               Advisory Director-Monsanto                     position, 1993.                                       
                               Company                                                                                              
Richard J. Mahoney, 60         Director; Chairman and Chief           1975    Present position, 1986.                               
                               Executive Officer-Monsanto                                                                           
                               Company                                                                                              
Philip Needleman, 55           Senior Vice President, Research        1991    Professor and Head of the Department of Pharmacology, 
                               and Development; Advisory                      Washington University School of Medicine, 1976; Vice  
                               Director-Monsanto Company;                     President, Research and Development-Monsanto Company, 
                               President, Research and                        1989; Vice President, Research and Development;       
                               Development, G. D. Searle & Co.                Advisory Director-Monsanto Company, 1991; Vice        
                                                                              President, Research and Development; Advisory         
                                                                              Director-Monsanto Company; President, Research and    
                                                                              Development, G. D. Searle & Co., 1992; and present    
                                                                              position, 1993.                                       
Robert G. Potter, 54           Executive Vice President and           1981    Group Vice President and Advisory Director-Monsanto   
                               Advisory Director-Monsanto                     Company and President-Monsanto Chemical Company, 1986;
                               Company; President-The Chemical                and present position, 1990.                           
                               Group                                                                                                

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                                                                   Year First                                                       
                                                                   Became an                                                        
                                                                   Executive                                                        
        Name - Age              Present Position with Registrant    Officer     Other Business Experience since January 1, 1989     
---------------------------    ----------------------------------  ---------- ---------------------------------------------------   

Nicholas L. Reding, 59         Director; Vice Chairman-               1976    Executive Vice President and Advisory Director-       
                               Monsanto Company                               Monsanto Company and President-Monsanto               
                                                                              Agricultural Company, 1986; Executive Vice President, 
                                                                              Environment, Safety, Health and Manufacturing and     
                                                                              Advisory Director-Monsanto Company, 1990; and present 
                                                                              position, 1993.                                       
Robert B. Shapiro, 55          Director; President and Chief          1987    Chairman and Chief Executive Officer, The NutraSweet  
                               Operating Officer-Monsanto                     Company, 1986; Executive Vice President and Advisory  
                               Company                                        Director-Monsanto Company and President-The           
                                                                              Agricultural Group, 1990; and present position, 1993. 
Francis A. Stroble, 63         Senior Vice President and Chief        1975    Present position, 1982.                               
                               Financial Officer; Advisory                                                                          
                               Director-Monsanto Company                                                                            
Hendrik A. Verfaillie, 48      Vice President and Advisory            1993    Vice President, Commercial Development-Monsanto       
                               Director-Monsanto Company;                     Agricultural Company, 1986; Vice President and General
                               President-The Agricultural                     Manager, Roundup Division-The Agricultural Group,     
                               Group                                          1990; and present position, 1993.                     
Virginia V. Weldon, 58         Senior Vice President, Public          1990    Professor of Pediatrics, Washington University School 
                               Policy; Advisory Director-                     of Medicine, 1979-1989; Vice President, Washington    
                               Monsanto Company                               University Medical Center, 1980-1989; Deputy Vice     
                                                                              Chancellor for Medical Affairs, Washington University 
                                                                              School of Medicine, 1983-1989; Vice President,        
                                                                              Scientific Affairs-Monsanto Company, 1989; Vice       
                                                                              President, Public Policy-Monsanto Company, 1989; Vice 
                                                                              President, Public Policy; Advisory Director-Monsanto  
                                                                              Company, 1990; and present position, 1993.            

The above-listed individuals are elected to the offices set opposite            
their names to hold office until their successors are duly elected and          
have qualified, or until their earlier death, resignation or removal.           

ITEM 11. EXECUTIVE COMPENSATION.                                                

Information appearing under "Directors' Fees and Other Arrangements"        
on page 8 and under "Executive Compensation" on pages 12 through 16 of          
the 1994 Proxy Statement is incorporated herein by reference.                   

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND                    
MANAGEMENT.                                                                     

Information appearing under "Stock Ownership of Management and              
Certain Beneficial Owners" on pages 5 and 6 of the 1994 Proxy Statement         
is incorporated herein by reference.                                            

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.                        

None.                                                                       
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PART IV         

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.      

(a) Documents filed as part of this Report:                             

 1. The financial statements set forth at pages 22, 36, 38, 42 and
   43 through 51 of the 1993 Annual Report (See Exhibit 13 under
Paragraph (a)3 of this Item 14)                           

2. Financial Statement Schedules                                

         The following supplemental schedules for the years ended December
31, 1993, 1992 and 1991:                                

V - Property, Plant and Equipment               

           VI - Accumulated Depreciation, Depletion, and Amortization of
Property, Plant and Equipment           

         VII - Guarantees of Securities of Other Issuers (December 31,
1993, only)                             

VIII - Valuation and Qualifying Accounts              

IX - Short-Term Borrowings                        

X - Supplementary Income Statement Information  

           All other supplemental schedules are omitted because of the absence
of the conditions under which they are required.        

  3. Exhibits - See the Exhibit Index at page 24 of this Report. For
     a listing of all management contracts and compensatory plans or
      arrangements required to be filed as exhibits to this Form 10-K,
      see the Exhibits listed under Exhibit No. 10(iii) on pages 24-27
     of the Exhibit Index which were previously filed. The following
      Exhibits listed in the Exhibit Index are filed with this Report:

13     The Company's 1993 Annual Report to shareowners  

21     Subsidiaries of the registrant (See page 29)     

23(ii) 1. Consent of Independent Auditors (See page 30) 

 2. Consent of Company Counsel (See page 30)

     24     1. Powers of attorney submitted by Joan T. Bok, Robert
               M. Heyssel, Gwendolyn S. King, Philip Leder, Howard
                 M. Love, Richard J. Mahoney, Frank A. Metz, Jr., Buck
                 Mickel, Jacobus F.M. Peters, Nicholas L. Reding, John
            S. Reed, William D. Ruckelshaus, Bruce R. Sents,
            Robert B. Shapiro, John B. Slaughter, Francis A.
Stroble and Stansfield Turner       

            2. Certified copy of Board resolution authorizing Form
    10-K filing utilizing powers of attorney

       99     1. Computation of the Ratio of Earnings to Fixed Charges
               for Monsanto Company and Subsidiaries (See page 31)

(b) Reports on Form 8-K during the quarter ended December 31, 1993:     

   No reports on Form 8-K were filed by the Company during the quarter
ended December 31, 1993.                                                
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OPINION OF INDEPENDENT AUDITORS         

Uonsanto Company:                                                               

We have audited the statement of consolidated financial position of Monsanto
Company and Subsidiaries as of December 31, 1993 and 1992 and the related       
statements of consolidated income, shareowners' equity and cash flow for each of
the three years in the period ended December 31, 1993 and have issued our       
opinion thereon dated February 25, 1994; such financial statements and opinion  
are included in your 1993 Annual Report to shareowners and are incorporated     
herein by reference. Our audits also comprehended the schedules of Monsanto     
Company and Subsidiaries, listed in Item 14(a)2. These schedules are the        
responsibility of the Company's management. Our responsibility is to express an 
opinion based on our audits. In our opinion, such schedules, when considered in 
relation to the basic consolidated financial statements taken as a whole,       
present fairly in all material respects the information shown therein.          

           DELOITTE & TOUCHE
           DELOITTE & TOUCHE

Saint Louis, Missouri                                                           
February 25, 1994                                                               
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                                                        · Enlarge/Download Table
                                                                                                                       SCHEDULE V

                                                 MONSANTO COMPANY AND SUBSIDIARIES                                               
                                                 ---------------------------------                                               

                                                   PROPERTY, PLANT AND EQUIPMENT                                                 

                                        FOR THE YEARS ENDED DECEMBER 31, 1993, 1992 AND 1991                                     

                                                       (Dollars in millions)                                                     


             COLUMN A               COLUMN B      COLUMN C      COLUMN D                   COLUMN E                   COLUMN F   
          --------------          ------------    ---------   -----------    -----------------------------------     ----------  
                                                                                           Foreign                               
                                                                                           Currency                              
                                   Balance at                                Transfers   Translation                 Balance at  
                                  Beginning of    Additions                   Between      Adjust-        Other        End of    
          Classification              Year         at Cost    Retirements    Accounts       ments        Changes        Year     
          --------------          ------------    ---------   -----------    --------    -----------     -------     ----------  
                                                                                                                                 
Year Ended December 31, 1993:                                                                                                    
  Land............................   $  106                       $  2         $   2        $   -       $   1 (C)      $  107    
  Buildings.......................    1,240                         33            78          (12)        (36)(B)       1,237    
  Machinery and equipment.........    5,939                        447           422          (54)        (67)(B)       5,793    
  Construction in progress........      317       $437(A)                       (502)          (4)         (3)(B)         245    
                                     ------       ----            ----         -----        -----       -----          ------    
    Total.........................   $7,602       $437            $482         $   -        $ (70)      $(105)         $7,382    
                                     ------       ----            ----         -----        -----       -----          ------    
Year Ended December 31, 1992:                                                                                                    
  Land............................   $  104                       $  1         $   3        $  (1)      $   1 (C)      $  106    
  Buildings.......................    1,215                         15            78          (27)        (11)(B)       1,240    
  Machinery and equipment.........    5,772                        240           590         (108)        (75)(B)       5,939    
  Construction in progress........      419       $586(A)                       (671)         (14)         (3)(C)         317    
                                     ------       ----            ----         -----        -----       -----          ------    
    Total.........................   $7,510       $586            $256         $   -        $(150)      $ (88)         $7,602    
                                     ------       ----            ----         -----        -----       -----          ------    
Year Ended December 31, 1991:                                                                                                    
  Land............................   $  103                       $ -          $   1        $   -       $   -          $  104    
  Buildings.......................    1,162                         11            78            1         (15)(C)       1,215    
  Machinery and equipment.........    5,495                        159           524           10         (78)(B)       5,772    
                                                                                                          (20)(C)                
  Construction in progress........      466       $554(A)                       (603)           2          -              419    
                                     ------       ----            ----         -----        -----       -----          ------    
    Total.........................   $7,226       $554            $170         $   -        $  13       $(113)         $7,510    
                                     ------       ----            ----         -----        -----       -----          ------    
<FN>                                                                                                                             
NOTES:                                                                                                                           

 (A) Property additions generally are initially charged to construction in progress and subsequently transferred to their        
     appropriate asset classification when placed in service.                                                                    

 (B) Principally property related to divested operations.                                                                        

 (C) Transfers from (to) other accounts.                                                                                         

 (D) Cost is depreciated using the straight-line method over weighted average periods of 22 years for buildings and 11 years     
     for machinery and equipment.                                                                                                

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                                                                                                                  SCHEDULE VI

                                                 MONSANTO COMPANY AND SUBSIDIARIES                                           
                                                 ---------------------------------                                           

                                       ACCUMULATED DEPRECIATION, DEPLETION, AND AMORTIZATION                                 

                                                  OF PROPERTY, PLANT AND EQUIPMENT                                           

                                        FOR THE YEARS ENDED DECEMBER 31, 1993, 1992 AND 1991                                 

                                                       (Dollars in millions)                                                 


                 COLUMN A                    COLUMN B      COLUMN C       COLUMN D              COLUMN E          COLUMN F   
               -----------                 ------------   ----------    -----------     ----------------------   ----------  
                                                                                          Foreign                            
                                                          Additions                      Currency                            
                                            Balance at    Charged to                    Translation              Balance at  
                                           Beginning of   Costs and                       Adjust-       Other      End of    
               Description                     Year        Expenses     Retirements        ments       Changes      Year     
               -----------                 ------------   ----------    -----------     -----------    -------   ----------  

                                                                                                                             
Year Ended December 31, 1993:                                                                                                
  Buildings...............................    $  608       $ 53             $ 17           $ (6)       $(44)(A)    $  594    
  Machinery and equipment.................     3,981        417              445            (37)         64 (C)     3,980    
  Government grants.......................         8         (1)(D)            -              -          (1)(E)         6    
                                              ------       ----             ----           ----        ----        ------    
      Total...............................    $4,597       $469             $462           $(43)       $ 19        $4,580    
                                              ------       ----             ----           ----        ----        ------    
Year Ended December 31, 1992:                                                                                                
  Buildings...............................    $  540       $ 51             $ 11           $(14)       $ (7)(A)    $  608    
                                                                                                         49 (C)              

                                                                                                        (55)(A)              
  Machinery and equipment.................     3,768        424              227            (78)         21 (B)     3,981    
                                                                                                        128 (C)              

  Government grants.......................        11         (2)(D)            -             (1)          -             8    
                                              ------       ----             ----           ----        ----        ------    
      Total...............................    $4,319       $473             $238           $(93)       $136        $4,597    
                                              ------       ----             ----           ----        ----        ------    
Year Ended December 31, 1991:                                                                                                
  Buildings...............................    $  496       $ 48             $  8           $  4        $  -        $  540    

                                                                                                        (40)(A)              
  Machinery and equipment.................     3,402        407              139             11         (14)(B)     3,768    
                                                                                                        141 (C)              

  Government grants.......................        12         (2)(D)            -              -           1 (E)        11    
                                              ------       ----             ----           ----        ----        ------    
      Total...............................    $3,910       $453             $147           $ 15        $ 88        $4,319    
                                              ------       ----             ----           ----        ----        ------    
<FN>                                                                                                                         
NOTES:                                                                                                                       

 (A) Principally includes accumulated depreciation related to divested operations.                                           

 (B) Transfers from (to) other accounts.                                                                                     

 (C) Includes reserves for asset impairment and for the restructuring program.                                               

 (D) Amortization of government grants credited to income.                                                                   

 (E) Government grant additions.                                                                                             


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                                                                                                                   SCHEDULE VII  

                                                 MONSANTO COMPANY AND SUBSIDIARIES                                               
                                                 ---------------------------------                                               

                                             GUARANTEES OF SECURITIES OF OTHER ISSUERS                                           

                                                      AS OF DECEMBER 31, 1993                                                    

                                                       (Dollars in millions)                                                     


                           COLUMN A                                                    COLUMN B                        COLUMN C  
      -------------------------------------------------                     ------------------------------           ------------
                                                                                                                     Total Amount
                                                                                                                      Guaranteed 
                 Name of Issuer of Securities                                   Title of Issue of Each                   and     
      Guaranteed by Person for Which Statement is Filed                     Class of Securities Guaranteed           Outstanding 
      -------------------------------------------------                     ------------------------------           ----------- 

                                                                                                                                 
Village of Sauget, Illinois...................................   Pollution Control Revenue Bonds                         $ 12    
                                                                 (Term Bonds)                                                    
Various Export Financings.....................................   Bank Loans                                                 3    
Rural Credit Financing (Brazil)...............................   Bank Loans                                                31    
Various Equity Affiliates.....................................   Bank Loans                                                72    
Various Bond Holders..........................................   Industrial Revenue Bonds                                  17    
Government of Argentina.......................................   External Bonds                                             5    
First National Bank of Boston.................................   Series A Trust Notes                                      36    
Wilmington Trust Company......................................   Trust Notes                                               46    
                                                                                                                         ----    
  Total.......................................................                                                           $222    
                                                                                                                         ----    
<FN>                                                                                                                             
NOTES:                                                                                                                           

 (A) Columns D, E and G have been omitted as the answers thereto would have been "None."                                         

 (B) In answer to Column F, all guaranteed securities are guaranteed as to principal and interest. The annual aggregate          
     amount of interest guaranteed is approximately $13 million.                                                                 

 (C) Monsanto also has guaranteed $80 million of 7.09 percent amortizing notes and $100 million of 8.13 percent amortizing       
     debentures issued by its Employee Stock Ownership Plan (ESOP). The unpaid balances of the ESOP notes and debentures are     
     included in Short-term and Long-term Debt in Monsanto's Statement of Consolidated Financial Position at December 31, 1993.  

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                                                                                                                    SCHEDULE VIII

                                                 MONSANTO COMPANY AND SUBSIDIARIES                                               
                                                 ---------------------------------                                               

                                                 VALUATION AND QUALIFYING ACCOUNTS                                               

                                        FOR THE YEARS ENDED DECEMBER 31, 1993, 1992 AND 1991                                     

                                                       (Dollars in millions)                                                     


                              COLUMN A                                  COLUMN B       COLUMN C        COLUMN D       COLUMN E   
                             -----------                               ----------     ----------      ----------     ----------  
                                                                                       Additions                                 
                                                                       Balance at     Charged to                     Balance at  
                                                                        Beginning      Costs and                       End of    
                             Description                                 of Year       Expenses       Deductions        Year     
                             -----------                                ---------     ----------      ----------     ----------  

                                                                                                                                 
Year Ended December 31, 1993:                                                                                                    
  Reserves deducted from related assets in the Statement of                                                                      
   Consolidated Financial Position:                                                                                              
    Doubtful receivables and returns and allowances..................    $   33          $ 36         $   18(A)        $   51    
                                                                         ------          ----         ------           ------    
    Inventory and obsolescence losses................................    $   23          $ 31         $    9           $   45    
                                                                         ------          ----         ------           ------    
    Amortization of intangible assets................................    $  383          $ 81         $   14           $  450    
                                                                         ------          ----         ------           ------    
    Deferred tax asset valuation allowances(C).......................    $   62          $ 34         $    7           $   89    
                                                                         ------          ----         ------           ------    
Year Ended December 31, 1992:                                                                                                    
  Reserves deducted from related assets in the Statement of                                                                      
   Consolidated Financial Position:                                                                                              
    Doubtful receivables and returns and allowances..................    $   36          $ 15         $   18(A)        $   33    
                                                                         ------          ----         ------           ------    
    Inventory and obsolescence losses................................    $   31          $ 11         $   19           $   23    
                                                                         ------          ----         ------           ------    
    Amortization of intangible assets................................    $1,422          $238         $1,277(B)        $  383    
                                                                         ------          ----         ------           ------    
    Deferred tax asset valuation allowances(C).......................    $   32          $ 33         $    3           $   62    
                                                                         ------          ----         ------           ------    
Year Ended December 31, 1991:                                                                                                    
  Reserves deducted from related assets in the Statement of                                                                      
   Consolidated Financial Position:                                                                                              
    Doubtful receivables and returns and allowances..................    $   34          $ 23         $   21(A)        $   36    
                                                                         ------          ----         ------           ------    
    Inventory and obsolescence losses................................    $   20          $ 32         $   21           $   31    
                                                                         ------          ----         ------           ------    
    Amortization of intangible assets................................    $1,203          $233         $   14           $1,422    
                                                                         ------          ----         ------           ------    
<FN>                                                                                                                             
NOTES:                                                                                                                           

 (A) Principally allowances granted.                                                                                             

 (B) Includes $1,270 million related to NutraSweet's fully amortized aspartame-use patent.                                       

 (C) Monsanto adopted Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes," effective as of        
     January 1, 1992. Prior years were not restated for this adoption.                                                           


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                                                                                                                      SCHEDULE IX

                                                 MONSANTO COMPANY AND SUBSIDIARIES                                               
                                                 ---------------------------------                                               

                                                       SHORT-TERM BORROWINGS                                                     

                                        FOR THE YEARS ENDED DECEMBER 31, 1993, 1992 AND 1991                                     

                                                       (Dollars in millions)                                                     


                       COLUMN A                          COLUMN B       COLUMN C       COLUMN D        COLUMN E       COLUMN F   
                    ------------                        ---------       --------      -----------    -----------    -------------
                                                                                        Maximum        Average        Weighted   
                     Category of                                        Weighted        Amount          Amount         Average   
                      Aggregate                          Balance         Average      Outstanding    Outstanding    Interest Rate
                      Short-Term                        at End of       Interest      During the      During the     During the  
                    Borrowings(A)                          Year           Rate           Year          Year(D)         Year(D)   
                    -------------                       ---------       --------      -----------    -----------    -------------

                                                                                                                                 
Year Ended December 31, 1993:                                                                                                    
  Payable to banks(B).................................     $49              7%           $189            $110                  5%
  Commercial paper(C).................................     $16              3%           $523            $140                  3%
Year Ended December 31, 1992:                                                                                                    
  Payable to banks(B).................................     $70             10%           $168            $109                  8%
  Commercial paper(C).................................                                   $529            $222                  4%
Year Ended December 31, 1991:                                                                                                    
  Payable to banks(B).................................     $75             14%           $111            $ 78                 15%
  Commercial paper(C).................................     $66              5%           $626            $276                  6%
<FN>                                                                                                                             
NOTES:                                                                                                                           

 (A) Excludes bank overdrafts of $67 million, $78 million and $125 million in 1993-1991, respectively. Generally, there is no    
     interest on these bank overdrafts.                                                                                          

 (B) Interest on these loans is principally related to various bank rates. The short-term facilities of ex-U.S. subsidiaries     
     include $5 million, $8 million and $15 million in 1993-1991, respectively, of loans of subsidiaries in hyperinflationary    
     countries.                                                                                                                  

 (C) Interest on these borrowings is generally at money market rates determined by competitive bidding.                          

 (D) Based on the average month-end amounts outstanding for payable to banks and based on the average daily balance for          
     commercial paper.                                                                                                           

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                                                                                                                  SCHEDULE X    

                                                 MONSANTO COMPANY AND SUBSIDIARIES                                              
                                                 ---------------------------------                                              

                                             SUPPLEMENTARY INCOME STATEMENT INFORMATION                                         

                                        FOR THE YEARS ENDED DECEMBER 31, 1993, 1992 AND 1991                                    

                                                       (Dollars in millions)                                                    


                                                           COLUMN A                                                 COLUMN B    
                                                           --------                                             ----------------
                                                                                                                Charged to Costs
                                                             Item                                                 and Expenses  
                                                           --------                                             ----------------

                                                                                                                                
               Year Ended December 31, 1993:                                                                                    
                 Maintenance and repairs........................................................................      $379      
                 Taxes, other than payroll and income taxes(A)..................................................        93      
                 Advertising costs..............................................................................       297      
                 Royalty costs..................................................................................        54      
               Year Ended December 31, 1992:                                                                                    
                 Maintenance and repairs........................................................................      $412      
                 Taxes, other than payroll and income taxes(A)..................................................       126      
                 Advertising costs..............................................................................       266      
                 Royalty costs..................................................................................        93      
               Year Ended December 31, 1991:                                                                                    
                 Maintenance and repairs........................................................................      $377      
                 Taxes, other than payroll and income taxes(A)..................................................       114      
                 Advertising costs..............................................................................       278      
                 Royalty costs..................................................................................       105      
<FN>                                                                                                                            
NOTES:                                                                                                                          

 (A) Includes real estate, personal property, franchise, excise and other taxes, none of which exceeds 1 percent of net         
     sales.                                                                                                                     

 (B) Preoperating costs and similar deferrals were each less than 1 percent of net sales. Depreciation and amortization of      
     intangible assets are included in the Statement of Consolidated Cash Flow.                                                 

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SIGNATURES          

Pursuant to the requirements of Section 13 or 15(d) of the Securities       
Exchange Act of 1934, the registrant has duly caused this Report to be          
signed on its behalf by the undersigned, thereunto duly authorized.             

              MONSANTO COMPANY
              ................................................
              (Registrant)

By                BRUCE R. SENTS  
                 .............................................
                Bruce R. Sents
                 Vice President and Controller
                (Principal Accounting Officer)

Date: March 15, 1994                                                            

                                                        · Enlarge/Download Table
  Pursuant to the requirements of the Securities Exchange Act of 1934,                                              
this Report has been signed below by the following persons on behalf of                                             
the registrant and in the capacities and on the dates indicated.                                                    


                           SIGNATURE                                               TITLE                   DATE     
                           ---------                                               -----                   ----     

                                                                                                                    
                      RICHARD W. DUESENBERG                      Chairman and Director                March 15, 1994
................................................................ (Principal Executive Officer)                      
                      (Richard J. Mahoney)*                                                                         

                      RICHARD W. DUESENBERG                      President and Director               March 15, 1994
................................................................                                                    
                      (Robert B. Shapiro)*                                                                          

                      RICHARD W. DUESENBERG                      Vice Chairman and Director           March 15, 1994
................................................................                                                    
                      (Nicholas L. Reding)*                                                                         

                       RICHARD W. DUESENBERG                     Senior Vice President                March 15, 1994
................................................................ (Principal Financial Officer)                      
                      (Francis A. Stroble)*                                                                         

                         BRUCE R. SENTS                          Vice President and Controller        March 15, 1994
................................................................ (Principal Accounting Officer)                     
                        (Bruce R. Sents)                                                                            

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                         (Joan T. Bok)*                                                                             

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                      (Robert M. Heyssel)*                                                                          

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                      (Gwendolyn S. King)*                                                                          

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                         (Philip Leder)*                                                                            

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                        (Howard M. Love)*                                                                           

                                    22                                                                              

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                           SIGNATURE                                               TITLE                   DATE     
                           ---------                                               -----                   ----     

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                      (Frank A. Metz, Jr.)*                                                                         

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                         (Buck Mickel)*                                                                             

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                     (Jacobus F.M. Peters)*                                                                         

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                         (John S. Reed)*                                                                            

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                    (William D. Ruckelshaus)*                                                                       

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                      (John B. Slaughter)*                                                                          

                       RICHARD W. DUESENBERG                     Director                             March 15, 1994
................................................................                                                    
                      (Stansfield Turner)*                                                                          

<FN>                                                                                                                
*Richard W. Duesenberg, by signing his name hereto, does sign this document on behalf of the above                  
 noted individuals, pursuant to powers of attorney duly executed by such individuals which have been                
 filed as an Exhibit to this Report.                                                                                

                                         RICHARD W. DUESENBERG                                                      
                               ........................................                                             
                                         Richard W. Duesenberg                                                      
                                           Attorney-in-Fact                                                         

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                                                        · Enlarge/Download Table
                             EXHIBIT INDEX                                                                     

  These Exhibits are numbered in accordance with the Exhibit Table of                                          
Item 601 of Regulation S-K.                                                                                    



   Exhibit No.                                            Description                                          
   -----------                                            -----------                                          

                                                                                                               
  2                 Omitted - Inapplicable                                                                     

  3(i)              Restated Certificate of Incorporation of the Company effective as of April 27, 1987        
                    (incorporated herein by reference to Exhibit 19(ii)2 of the Company's Form 10-Q for the    
                    quarter ended June 30, 1987)                                                               

  3(ii)             By-Laws of the Company, as amended effective September 1, 1993 (incorporated herein by     
                    reference to Exhibit 99.1 of the Company's Form 10-Q for the quarter ended September 30,   
                    1993)                                                                                      

  4(i)              Form of Rights Agreement, dated as of January 26, 1990 between the Company and The First   
                    National Bank of Boston (incorporated herein by reference to Form 8-A filed on January 31, 
                    1990)                                                                                      

  4(iii)            Registrant agrees to furnish to the Securities and Exchange Commission upon request copies 
                    of instruments defining the rights of holders of certain long-term debt not being          
                    registered of the registrant and all subsidiaries for which consolidated or unconsolidated 
                    financial statements are required to be filed.                                             

  9                 Omitted - Inapplicable                                                                     

 10(i)              Acquisition Agreement dated as of September 11, 1992, between Emerson Electric Co. and     
                    Monsanto Company relating to the purchase and sale of Fisher Controls International, Inc.  
                    and related businesses, plus identification of contents of omitted schedules and agreement 
                    to furnish supplementally a copy of any omitted schedule to the Securities and Exchange    
                    Commission upon request (incorporated herein by reference to Form 8-K dated as of October  
                    1, 1992 and filed on October 9, 1992)                                                      

 10(iii)             1. Stock Compensation Arrangement for Non-Employee Directors adopted January 23, 1987 and 
                        effective April 24, 1987 (incorporated herein by reference to Exhibit 19(i)1 of the    
                        Company's Form 10-Q for the quarter ended March 31, 1987)                              

                     2. Non-Employee Directors Stock Plan, as amended in 1991 (incorporated herein by          
                        reference to Exhibit 19(ii)1 of the Company's Form 10-Q for the quarter ended June 30, 
                        1991)                                                                                  

                     3. Non-Employee Directors Retirement Plan, as amended in 1991 (incorporated herein by     
                        reference to Exhibit 19(ii) of the Company's Form 10-Q for the quarter ended September 
                        30, 1991)                                                                              

                     4. Charitable Contribution Program effective April 1, 1992 (incorporated herein by        
                        reference to Exhibit 19(i)1 of the Company's Form 10-K for the year ended December 31, 
                        1991)                                                                                  

                     5. Deferred Compensation Plan for Non-Employee Directors, as amended in 1983 and 1991     
                        (incorporated herein by reference to Exhibit 19(ii)1 of the Company's Form 10-K for    
                        the year ended December 31, 1991)                                                      

                     6. Consulting Agreement between the Company and Philip Leder dated January 17, 1990       
                        (incorporated herein by reference to Exhibit 19(i)3 of the Company's Form 10-K for the 
                        year ended December 31, 1989)                                                          

                                    24                                                                         

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                        EXHIBIT INDEX (CONT'D)                                                                 


   Exhibit No.                                              Description                                        
   -----------                                              -----------                                        

                     7. Financial Planning Services Program for Monsanto Management Council Members, as        
                        amended in 1993 (incorporated herein by reference to Exhibit 10.1 of the Company's     
                        Form 10-Q for the quarter ended March 31, 1993)                                        

                     8. Monsanto Management Incentive Plan of 1984, as amended in 1987, 1988 and 1989          
                        (incorporated herein by reference to Exhibit 19(ii)2 of the Company's Form 10-K for    
                        the year ended December 31, 1989)                                                      

                     9. Monsanto Management Incentive Plan of 1988/I, as amended in 1988, 1989, 1991 and 1992  
                        (incorporated herein by reference to Exhibit 99.1 of the Company's Form 10-K for the   
                        year ended December 31, 1992)                                                          

                    10. Monsanto Management Incentive Plan of 1988/II, as amended in 1989, 1991 and 1992       
                        (incorporated herein by reference to Exhibit 99.2 of the Company's Form 10-K for the   
                        year ended December 31, 1992)                                                          

                    11. Split-dollar Life Insurance Plan (incorporated herein by reference to Exhibit          
                        10(iii)19 of the Company's Form 10-K for the year ended December 31, 1987)             

                    12. Executive Health Program (incorporated herein by reference to Exhibit 19(i) of the     
                        Company's Form 10-Q for the quarter ended March 31, 1989)                              

                    13. Agreements between the Company and Richard J. Mahoney and Nicholas L. Reding entered   
                        into as of May 16, 1988 (incorporated herein by reference to Exhibit 19(i)18 of the    
                        Company's Form 10-Q for the quarter ended June 30, 1988)                               

                    14. Letter from the Company to Dr. Sheldon G. Gilgore dated February 12, 1986              
                        (incorporated herein by reference to Exhibit 10(iii)14 of the Company's Form 10-K for  
                        the year ended December 31, 1986)                                                      

                    15. Letter Agreement between G. D. Searle & Co. and Dr. Sheldon G. Gilgore, dated March 7, 
                        1991, amending the Letter from the Company dated February 12, 1986 (incorporated       
                        herein by reference to Exhibit 19(ii)1 of the Company's Form 10-Q for the quarter      
                        ended March 31, 1991)                                                                  

                    16. Agreement between the Company and Robert G. Potter entered into as of May 16, 1988     
                        (incorporated herein by reference to Exhibit 19(i)5 of the Company's Form 10-K for the 
                        year ended December 31, 1989)                                                          

                    17. Letter Agreement between the Company and Robert G. Potter entered into as of May 16,   
                        1988 (incorporated herein by reference to Exhibit 19(i)6 of the Company's Form 10-K    
                        for the year ended December 31, 1989)                                                  

                    18. Agreement between the Company and Robert B. Shapiro entered into as of July 23, 1990   
                        (incorporated herein by reference to Exhibit 19(i)1 of the Company's Form 10-Q for the 
                        quarter ended September 30, 1990)                                                      

                                    25                                                                         

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                        EXHIBIT INDEX (CONT'D)                                                                 


   Exhibit No.                                              Description                                        
   -----------                                              -----------                                        

                    19. Letter Agreement between the Company and Robert B. Shapiro entered into as of July 23, 
                        1990 (incorporated herein by reference to Exhibit 19(i)2 of the Company's Form 10-Q    
                        for the quarter ended September 30, 1990)                                              

                    20. Letter Agreement between the Company and Robert B. Shapiro entered into as of July 23, 
                        1990 (incorporated herein by reference to Exhibit 19(i)3 of the Company's Form 10-Q    
                        for the quarter ended September 30, 1990)                                              

                    21. Searle Phantom Stock Option Plan of 1986, as amended in 1990, 1991 and 1992            
                        (incorporated herein by reference to Exhibit 99.3 of the Company's Form 10-K for the   
                        year ended December 31, 1992)                                                          

                    22. Searle Monsanto Stock Option Plan of 1986, as amended in 1988, 1989, 1990 and 1991     
                        (incorporated herein by reference to Exhibit 19(ii)4 of the Company's Form 10-Q for    
                        the quarter ended June 30, 1991)                                                       

                    23. G. D. Searle & Co. Management Incentive Plan (incorporated herein by reference to the  
                        description on pages 19-20 of the Monsanto Company Notice of Annual Meeting and Proxy  
                        Statement dated March 20, 1992)                                                        

                    24. G. D. Searle & Co. Executive Travel Accident Insurance Plan, as amended in 1989        
                        (incorporated herein by reference to Exhibit 19(ii)4 of the Company's Form 10-Q for    
                        the quarter ended June 30, 1989)                                                       

                    25. G. D. Searle & Co. Executive Supplemental Long Term Disability Plan (incorporated      
                        herein by reference to Exhibit 19(i)7 of the Company's Form 10-Q for the quarter ended 
                        June 30, 1988)                                                                         

                    26. G. D. Searle & Co. Split Dollar Life Insurance Plan, as amended in 1989 (incorporated  
                        herein by reference to Exhibit 19(ii)3 of the Company's Form 10-Q for the quarter      
                        ended June 30, 1989)                                                                   

                    27. G. D. Searle & Co. Legal/Tax/Financial Counseling Plan (incorporated herein by         
                        reference to Exhibit 19(i)8 of the Company's Form 10-Q for the quarter ended June 30,  
                        1988)                                                                                  

                    28. G. D. Searle & Co. Executive Relocation Plan (incorporated herein by reference to      
                        Exhibit 19(i)9 of the Company's Form 10-Q for the quarter ended June 30, 1988)         

                    29. G. D. Searle & Co. Supplemental Medical Reimbursement Plan (incorporated herein by     
                        reference to Exhibit 19(i)10 of the Company's Form 10-Q for the quarter ended June 30, 
                        1988)                                                                                  

                    30. G. D. Searle & Co. Deferred Compensation Plan, as amended in 1993 (incorporated herein 
                        by reference to Exhibit 10.1 of the Company's Form 10-Q for the quarter ended June 30, 
                        1993)                                                                                  

                    31. G. D. Searle & Co. Executive Physical Examinations Program, as amended in 1992         
                        (incorporated herein by reference to Exhibit 99.1 of the Company's Form 10-Q for the   
                        quarter ended June 30, 1992)                                                           

                                    26                                                                         

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                        EXHIBIT INDEX (CONT'D)                                                                 


   Exhibit No.                                              Description                                        
   -----------                                              -----------                                        

                    32. NutraSweet/Monsanto Stock Plan of 1991 (incorporated herein by reference to Exhibit    
                        19(i) of the Company's Form 10-Q for the quarter ended June 30, 1991)                  

                    33. The NutraSweet Company Deferred Compensation Plan (incorporated herein by reference to 
                        Exhibit 19(i)11 of the Company's Form 10-Q for the quarter ended June 30, 1988)        

                    34. The NutraSweet Company Executive Travel Accident Insurance Plan (incorporated herein   
                        by reference to Exhibit 19(i)13 of the Company's Form 10-Q for the quarter ended June  
                        30, 1988)                                                                              

                    35. The NutraSweet Company Tax/Financial Services Plan (incorporated herein by reference   
                        to Exhibit 19(i)14 of the Company's Form 10-Q for the quarter ended June 30, 1988)     

                    36. The NutraSweet Company Supplemental Medical Reimbursement Plan (incorporated herein by 
                        reference to Exhibit 19(i)15 of the Company's Form 10-Q for the quarter ended June 30, 
                        1988)                                                                                  

                    37. The NutraSweet Company Executive Relocation Guidelines (incorporated herein by         
                        reference to Exhibit 19(i)16 of the Company's Form 10-Q for the quarter ended June 30, 
                        1988)                                                                                  

                    38. The NutraSweet Company Management Incentive Plan, as amended in 1990 and 1993          
                        (incorporated herein by reference to Exhibit 10.2 of the Company's Form 10-Q for the   
                        quarter ended March 31, 1993)                                                          

                    39. The NutraSweet Company Executive Disability Income Plan (incorporated herein by        
                        reference to Exhibit 19(i)2 of the Company's Form 10-K for the year ended December 31, 
                        1990)                                                                                  

                    40. The NutraSweet Company Executive Life Insurance Plan, as amended in 1990 (incorporated 
                        herein by reference to Exhibit 19(ii)2 of the Company's Form 10-K for the year ended   
                        December 31, 1990)                                                                     

                    41. NutraSweet Long Term Incentive Plan (1991-1993) (incorporated herein by reference to   
                        Exhibit 10(iii)44 of the Company's Form 10-K for the year ended December 31, 1991)     

 11                 Omitted - Inapplicable; see "Earnings per Share" on page 50 of the 1993 Annual Report      

 12                 Statement re Computation of the Ratio of Earnings to Fixed Charges - See Exhibit 99.1 below

 13                 The Company's 1993 Annual Report to shareowners. (The electronic submission includes only  
                    the financial report section of the Annual Report, consisting of pages 20 through 52 of    
                    that Report.) Only those portions expressly incorporated by reference into this Form 10-K  
                    are deemed "filed"; other portions are furnished only for the information of the           
                    Commission.                                                                                

 18                 Omitted - Inapplicable                                                                     

 21                 Subsidiaries of the registrant (See page 29)                                               

                                    27                                                                         

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                        EXHIBIT INDEX (CONT'D)                                                                 


   Exhibit No.                                              Description                                        
   -----------                                              -----------                                        

 22                 Omitted - Inapplicable                                                                     

 23(ii)             1. Consent of Independent Auditors (See page 30)                                           

                    2. Consent of Company Counsel (See page 30)                                                

 24                 1. Powers of attorney submitted by Joan T. Bok, Robert M. Heyssel, Gwendolyn S. King,      
                       Philip Leder, Howard M. Love, Richard J. Mahoney, Frank A. Metz, Jr., Buck Mickel,      
                       Jacobus F.M. Peters, Nicholas L. Reding, John S. Reed, William D. Ruckelshaus, Bruce R. 
                       Sents, Robert B. Shapiro, John B. Slaughter, Francis A. Stroble and Stansfield Turner   

                    2. Certified copy of Board resolution authorizing Form 10-K filing utilizing powers of     
                       attorney                                                                                

 27                 Not required                                                                               

 28                 Omitted - Inapplicable                                                                     

 99                 1. Computation of the Ratio of Earnings to Fixed Charges for Monsanto Company and          
                       Subsidiaries (See page 31)                                                              

<FN>                                                                                                           
-----                                                                                                          

Only Exhibits Nos. 13, 21, 23(ii) and 99.1 have been included in the printed copy of this Report.              

28      

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APPENDIX      

Throughout the printed Form 10-K, trademarks are initially designated on        
each page by the superscript letter "R" in a circle or by the superscript       
letters "TM."

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Dates Referenced Herein and Documents Incorporated By Reference

		Referenced-On Page
This 10-K Filing	Date	First	Last	Other Filings

	1/1/92	20
	3/20/92	27
	4/1/92	25
	6/30/92	27
	9/11/92	25
	10/1/92	25
	10/9/92	25
	12/31/92	15	27
	3/31/93	26	28
	6/30/93	27
	9/1/93	25
	9/30/93	25
For The Period Ended	12/31/93	1	22	11-K
	1/1/94	11
	2/25/94	16
	2/28/94	1
	3/1/94	10	13
	3/14/94	1	13	DEF 14A
Filed On / Filed As Of	3/15/94	23	24

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Pharmacia Corp/DE · 10-K · For 12/31/93

Filed On 3/15/94 · SEC File 1-02516 · Accession Number 950114-94-43

Annual Report · Form 10-KFiling Table of Contents

10-K · 1993 Form 10-KDocument Table of Contents

Dates Referenced Herein and Documents Incorporated By Reference

Annual Report · Form 10-K
Filing Table of Contents

10-K · 1993 Form 10-K
Document Table of Contents