Monsanto, BASF announce breakthrough in drought-resistant corn development - St. Louis Business Journal:

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The companies said they would use the gene to developthe world’as first biotechnology-derived drought-tolerant crop. The discoverh is a timely breakthrough, according to Monsanto. The numbedr and duration of dry spells, especiall y in already drought-prone areas, is expected to increasde due toclimate change, according to a United Nations' Food and Agriculturwe Organization report prepared for ministers of the G-8, Monsanto said. Monsanto and BASF said the drought-tolerant corn product is targete d for as early as 2012 pending appropriatedregulatory approvals. The two companies are jointly contributing $1.5 billion over the life of theirdresearch collaboration.
Chemical company BASF is basedin Ludwigshafen, Creve Coeur, Mo.-based Monsanto Co. MON), led by Chairman, President and CEO Hugh develops insect- and herbicide-resistant crops and other agricultural products. It is one of the largest employersin St. Loui s with 4,000 local employees.