World Grain - February 2014 - 21

newsreview
Monsanto making progress with bioengineered wheat
ST. LOUIS, MISSOURI, U.S. - Monsanto Co. said it has moved
from the "proof of concept" phase into the "early development"
phase for its herbicide-tolerant wheat, a move the St. Louis, Missouri, U.S.-based company said brings it closer to its goal of introducing a bioengineered wheat variety. Despite the progress, Robb
Fraley, executive vice-president and chief technology officer, said a
product launch is still "several years away."
"We have field tested and advanced one of the first wheat biotech
products based on improvements in weed control," Fraley said during a Jan. 8 conference call to discuss first-quarter results. "From an
overall market perspective, the grain industry and the wheat industry
- specifically the wheat trade industry - has remained very interested and supportive of biotech advances.
"A wheat farmer generally is also a corn and soybean farmer, and
they understand the benefits of the technology, and the wheat industry has watched the benefits that this technology has brought to both
corn and soybeans. And so we continue to make advances.
"We are still several years away from a product launch, but it is
nice to see those products in the pipeline."
The herbicide-tolerant wheat product was designed to give growers another broad spectrum weed control option for weed management with glyphosate tolerant wheat. Monsanto said field trials were

conducted last year in Fargo, North Dakota, U.S.
Monsanto's bioengineered wheat project is one of 29 projects in the
company's overall pipeline of more than 70 projects that made "phase
advancements" during the past year. Fraley cited "an exponential step"
in the pace and breadth of Monsanto's research and development engine.
"We have expanded the number of projects and platforms as we
capitalized on the only pipeline in the industry that truly targets a
total system for yield and productivity," he said. He added the expansion of the pipeline coupled with some fast-cycle technology has
opened the door for Monsanto to advance projects in "waves" as opposed to just a dozen or so.
Monsanto field tested Roundup Ready wheat in Oregon and several other states from 1998 through 2005 but discontinued that program
in 2005 when the company determined the market was not yet ready
to accept bioengineered wheat.
Bioengineered wheat also was in the news last summer after an Oregon State University scientist notified the U.S. Department of Agriculture that plant samples had tested positive for a protein that made them
resistant to glyphosate. Extensive testing by the U.S. Department of
Agriculture following the detection of these plants confirmed the wheat
as a variety developed by Monsanto. Japan, South Korea and Taiwan
temporarily postponed imports of U.S. white wheat after the discovery.

Viterra to buy Lethbridge grain elevator
REGINA, SASKATCHEWAN, CANADA - Viterra Inc. announced
on Dec. 28 that it has reached an agreement to purchase certain assets
of Lethbridge Inland Terminal Ltd. (LIT), including a high throughput grain elevator with a capacity of 42,000 tonnes.
LIT's board of directors are unanimously recommending its shareholders approve the transaction with Viterra. An information circular
was mailed to shareholders on Dec. 23, containing further details.
"This high quality terminal is ideally located and an excellent fit
in our overall asset network. We look forward to LIT employees, as
part of the Viterra team, providing area customers with expert advice and quality service, as well as ample marketing opportunities
for the diverse range of commodities grown in Southern Alberta,"
said Kyle Jeworski, Viterra's president and chief executive officer
(CEO) for North America. "This further builds on our commitment

to the Province of Alberta and the grain industry in Western Canada,
and is the latest in a series of investments we've announced over the
last several months."
Darcy Heggie, LIT's president and chairman, said the board and
staff of LIT are very proud of what they have accomplished in a relatively short amount of time in a very competitive and mature southern Alberta marketplace.
"We are very confident that Viterra will continue to offer a strong
and progressive service model which shareholders and customers of
LIT have come to depend on over the past few years," said Norman
Fodness, LIT CEO.
In November, Viterra announced it is spending over C$34 million
in Alberta through an expansion and upgrade to its facility in Grassy
Lake, as well as building a high throughput terminal in Grimshaw.

CWB buys interest in prairie terminal
WINNIPEG, MANITOBA, CANADA - The Canadian Wheat Board
(CWB) announced on Jan. 16 that it has acquired 2,394 (approximately 10.02%) Class C shares (PWT Shares) of Prairie West Terminal Ltd
(PWT), a farmer-owned grain handling organization located in west
central Saskatchewan.
As a result, CWB purchased and legally and beneficially owns and
exercises control or direction over 2,394 PWT Shares, or approximately
10.02% of the issued and outstanding PWT Shares; and CWB, through
its wholly-owned subsidiary, Mission Terminal Inc. (which directly
owns 500 PWT Shares), and which may be considered to be a joint actor
of CWB, beneficially owns and exercises control and direction over an
aggregate of 2,894 PWT Shares, or approximately 12.11% of the issued
and outstanding PWT Shares.
To the knowledge of CWB, neither CWB nor any joint actor of CWB
has beneficial ownership or exclusive or shared control over any other
PWT Shares or securities convertible into PWT Shares.
www.World-Grain.com / World Grain / February 2014

The PWT Shares were acquired by CWB pursuant to a
private agreement.
"CWB has always valued and supported farmers," said CWB President and Chief Executive Officer Ian White. "This investment is a great
opportunity to participate in an innovative farmer-owned organization
that prioritizes farmers' interests."
CWB said its investment in PWT is part of an ongoing strategy to position CWB as a strong and viable Canadian-focused grain company that
includes farmer ownership. CWB's plan for farmer ownership would
allow farmers to have an equity interest in CWB after privatization, allowing farmers to benefit from CWB's business activities.
"Creating value for farmers has always been at the core of CWB,"
said White, "and we are always looking for new ways to do that. We value farmers as owners and partners. Both our farmer ownership plan and
our investment in a farmer-oriented company like Prairie West Terminal
are prime examples of that. We believe our success is farmers' success."
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World Grain - February 2014

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