EXHIBIT 18

April 12, 2004

Monsanto Company
800 North Lindbergh Blvd.
St. Louis, MO 63167

Dear Sirs/Madams:

At your request, we have read the description  included in your Quarterly Report
on Form 10-Q to the  Securities  and Exchange  Commission  for the quarter ended
February  29,  2004,  of the facts  relating  to your  decision  to change  your
Statement  of  Financial  Accounting  Standards  No.  142,  Goodwill  and  Other
Intangible Assets,  annual goodwill impairment testing date from July 1 to March
1. We  believe,  on the basis of the  facts so set  forth and other  information
furnished to us by  appropriate  officials of the Company,  that the  accounting
change  described in your Form 10-Q is to an  alternative  accounting  principle
that is preferable under the circumstances.

We have not audited any  consolidated  financial  statements of Monsanto Company
(the  "Company")  and its  consolidated  subsidiaries  as of any date or for any
period subsequent to August 31, 2003.  Therefore,  we are unable to express, and
we do not express, an opinion on the facts set forth in the above-mentioned Form
10-Q, on the related information furnished to us by officials of the Company, or
on the  financial  position,  results of  operations,  or cash flows of Monsanto
Company  and its  consolidated  subsidiaries  as of any  date or for any  period
subsequent to August 31, 2003.

Yours truly,

/s/ DELOITTE & TOUCHE LLP

St. Louis, Missouri