SMI initiates coverage on Monsanto -- MON, Overall Rank -- Bullish / Investor Rank -- Buy

SMI this morning is initiating coverage on Monsanto-MON, a global leader in the agricultural products market . Trader and analyst Thomas Chenoweth is quoted as saying "Monsanto represents one of the most exciting developments in the financial markets based on the company's strategy which places them in a unique position to be a dominant product supplier encompassing the food , energy , and biotech industries . "




Tom is convinced that the company will show that bio-engineered crops could be the holy grail that revolutionizes ethanol production which will spawn a mass plantings of crops for several years to come of which the company directly benefits . Adding to that the defensive nature of providing food to the masses, Tom says, "this company can be one of the greatest growth stories of the 21st century ."

Monsanto beat analysts' forecasts yesterday by reporting higher sales and earnings for the quarter ending February 28, 2007.

Sales rose to 2.62 billion, up from 2.2 billion in the year ago period, an increase of 19%. Earnings rose to 543 million , up from 440 million , with earnings per share of 98¢ versus 80¢, up 17.5%. The company also raised guidance for the year citing strong demand for their seed products such as in Brazil , one of Monsanto's growing markets , who last year announced their nation's goal to become energy independent and have begun making large investments into their ethanol industry.

The stock yesterday rose into a new range based on the positive earnings report but we are waiting to open positions and will be soon accumulating shares during various pullbacks . Check back for updates .