Monsanto, BASF announce breakthrough in drought-resistant corn development - Business First of Buffalo:

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The companies said they would use the gene to developthe world’sx first biotechnology-derived drought-tolerant crop. The discovery is a timely breakthrough, according to Monsanto. The numbefr and duration of dry spells, especially in already drought-pronse areas, is expected to increase due toclimatse change, according to a United Nations' Food and Agricultur Organization report prepared for ministers of the G-8, Monsanto said. Monsantk and BASF said the drought-tolerant corn product is targeted for as early as 2012 pending appropriateregulatory approvals. The two companiea are jointly contributing $1.5 billion over the life of theirtresearch collaboration.
Chemical company BASF is basedin Ludwigshafen, Creve Coeur, Mo.-based Monsanto Co. (NYSE: MON), led by President and CEO Hugh Grant, develops insect- and herbicide-resistant cropws and other agricultural products. It is one of the largesf employersin St. Louis with 4,000o local employees.