<PAGE> 1
PRICING SUPPLEMENT NO. 1 DATED JANUARY 29, 1998 TO PROSPECTUS DATED JULY 7,
- ----------------
1995, AND PROSPECTUS SUPPLEMENT DATED JANUARY 23, 1998
MONSANTO COMPANY
MEDIUM-TERM NOTES, SERIES D
DUE FROM 9 MONTHS TO 40 YEARS FROM DATE OF ISSUE
PRINCIPAL AMOUNT: $45,440,000
PRICE TO PUBLIC: 100%
AGENTS' COMMISSIONS: $272,640
NET PROCEEDS TO ISSUER: $45,167,360
SELLING AGENTS ACTING AS PRINCIPAL: GOLDMAN, SACHS & CO.($25,000,000)
MERRILL LYNCH & CO. ($20,440,000)
ORIGINAL ISSUE DATE: FEBRUARY 3, 1998
INTEREST RATE: 6.11%
INTEREST PAYMENT DATES: APRIL 15 AND OCTOBER 15
STATED MATURITY DATE: FEBRUARY 3, 2005
REGULAR RECORD DATES: APRIL 1 AND OCTOBER 1
SPECIFIED CURRENCY: U.S. DOLLARS
ABILITY TO REDEEM AT MONSANTO OPTION: / / YES X NO
REDEMPTION COMMENCEMENT DATE:
REDEMPTION PRICES & REDEMPTION PERIODS:
ABILITY TO REPAY AT HOLDER OPTION: / / YES X NO
REPAYMENT DATE(S) & REPAYMENT PRICE:
FORM: GLOBAL NOTE
DISCOUNT NOTE: / / YES X NO
TOTAL AMOUNT OF OID NOTE:
DEFAULT RATE:
YIELD TO MATURITY:
OTHER PROVISIONS: THE AGGREGATE PRINCIPAL AMOUNT OF THIS OFFERING IS
$45,440,000 AND RELATES ONLY TO PRICING SUPPLEMENT NO. 1. NOTES MAY BE
ISSUED BY THE COMPANY IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $100,000,000
OR ITS EQUIVALENT IN ONE OR MORE CURRENCIES OR COMPOSITE CURRENCIES. TO
DATE, INCLUDING THIS OFFERING, AN AGGREGATE OF $45,440,000 OF NOTES IS
OUTSTANDING.
