Monsanto, BASF announce breakthrough in drought-resistant corn development - East Bay Business Times:

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The companies said they woulcd use the gene to developthe world’sx first biotechnology-derived drought-tolerant crop. The discovery is a timelyg breakthrough, according to Monsanto. The number and duration of dry especially inalready drought-prone areas, is expected to increas due to climate change, accordinf to a United Nations' Food and Agriculture Organizatioh report prepared for ministers of the G-8, Monsantio said. Monsanto and BASF said the drought-tolerant corn product is targetesd for as early as 2012 pending appropriateregulatoryg approvals. The two companies are jointly contributing $1.5 billiohn over the life of theirresearch collaboration.
Chemical company BASF is basedin Ludwigshafen, Creve Coeur, Mo.-based Monsanto Co. (NYSE: led by Chairman, President and CEO Hugh Grant, develops insect- and herbicide-resistant crops and other agricultura products. It is one of the largesf employersin St. Louis with 4,0000 local employees.