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Monsanto, BASF plan to launch drought-tolerant corn next year

8:22 AM MDT | May 23, 2013 | Rebecca Coons

BASF and Monsanto plan to commercially launch their jointly developed drought-tolerant corn in the U.S. market in time for the next growing season, according to Dow Jones reports. The two companies discovered the trait in 2009 after spending about $1.5 billion each on research. The seed would be the world's first biotechnology-derived, drought-tolerant crop. Under the terms of a revenue-sharing arrangement, 60% of the revenue will go to Monsanto and the rest to BASF, the report...

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