FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * STEINER GERALD A   2. Issuer Name and Ticker or Trading Symbol MONSANTO CO /NEW/ [MON] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP Commercial Acceptance (Last) (First) (Middle) 800 N. LINDBERGH BLVD. 3. Date of Earliest Transaction (Month/Day/Year) 08/02/2006 (Street) ST. LOUIS, MO 63167 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 08/02/2006   M(1)   9,040 A $ 20.805 82,154 (2) D   Common Stock 08/02/2006   S(1)   9,040 D $ 45 73,114 D   Common Stock               3,712 (2) I By 401(k) Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option (Right to Buy)

$ 20.805 (3)

08/02/2006

M(1)

9,040

11/15/2005(4)

10/28/2014

Common Stock

9,040

$ 0

54,080 (2)

D

Option (Right to Buy)

$ 16.1925 (3)

03/15/2005(5)

02/26/2014

Common Stock

0 (6)

37,080 (2)

D

Option (Right to Buy)

$ 29.2175 (3)

11/15/2006(7)

10/27/2015

Common Stock

0 (6)

57,760 (2)

D

Phantom Share Units

(8)

(9)

(9)

Phantom Share Units

0 (6)

4,555 (2)

I

By Excess Benefit Plan

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
STEINER GERALD A 800 N. LINDBERGH BLVD. ST. LOUIS, MO 63167			EVP Commercial Acceptance

Signatures

Christopher A. Martin, Attorney-in-Fact		08/03/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The sale and stock option exercise reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on January 27, 2006.
(2)	Holdings reflect a 2-for-1 split of Monsanto Company common stock on July 28, 2006.
(3)	Exercise price has been adjusted to reflect a 2-for-1 split of Monsanto Company common stock on July 28, 2006.
(4)	One third of the options became exercisable on November 15, 2005, one-third of the options become exercisable on November 15, 2006 and one-third of the options become exercisable on November 15, 2007, subject to the terms and conditions of the Monsanto Company Long Term Incentive Plan.
(5)	One-third of the options became exercisable on March 15, 2005, one-third of the options became exercisable on March 15, 2006 and one-third of the options become exercisable on March 15, 2007, subject to the terms and conditions of the Monsanto Company Long Term Incentive Plan.
(6)	No transaction is reported on this Form 4 for these securities.
(7)	Options become exercisable in three equal installments on each of November 15, 2006, November 15, 2007 and November 15, 2008, subject to the terms and conditions of the Monsanto Company Long Term Incentive Plan.
(8)	1 for 1
(9)	The reported phantom share units were acquired under Monsanto Company's excess benefit plan and are to be settled upon the reporting person's retirement or other termination of service.

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