BASF and Monsanto Announce Progress in Dicamba Formulations

LUDWIGSHAFEN, Germany and ST. LOUIS, Nov. 2, 2010 /PRNewswire-FirstCall/ -- BASF and Monsanto Company (NYSE: MON) today announced significant progress toward launching next-generation dicamba-based weed control systems for soybeans and cotton. The companies say they have made major advancements in the development of dicamba formulations, which could be available globally for farmers this decade.

"We are focused on providing farmers another tool for weed management. Today's announcement is an indication that together with BASF, we are making significant progress in bringing this new technology to farmers," said Kerry Preete, Monsanto vice president of crop protection. "Together the strength of the formulation expertise BASF has with dicamba and our team's biotech focus seeks to deliver another breakthrough product in weed control."

The companies recently completed joint field testing of new dicamba-based formulations applied over the top of Monsanto's next-generation dicamba-tolerant soybean technology in development. The research, conducted at Monsanto's Monmouth, IL research facility, demonstrated excellent weed control and crop safety on the dicamba-tolerant soybeans.

"Innovative formulations with proven chemistries are an invaluable asset for weed resistance management and a cornerstone of sustainable agriculture," said Markus Heldt, President of BASF's Crop Protection division. "The dicamba tolerant system is designed give growers pre- and post emergence application flexibility, allowing them to better manage their resources and thus improving productivity," he added.

Additional field studies at various BASF research locations supported these results and confirmed significantly improved attributes compared to formulations available in the market today. This new formulation work offers even further improvement in physical characteristics that result in better performance and safety to nearby crops.

Upon commercialization, the dicamba tolerance trait is expected to be stacked with the high yielding Genuity® Roundup Ready 2 Yield® soybean trait. These next-generation technologies are aimed at offering farmers multiple modes of action and superior application timing flexibility in combating yield-robbing weeds. Monsanto announced progress in the U.S. regulatory package submissions in July.

BASF, the world's leading chemical company, and Monsanto, the world's leading agriculture technology company, entered into a joint licensing agreement to develop innovative formulations for dicamba for use with herbicide-resistant cropping systems in January 2009. The two companies also have an established R&D collaboration to develop other new trait technologies for farmers.

About BASF

BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals as well as oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of more than euro 50 billion in 2009 and had approximately 105,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.

About Monsanto Company

Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com.  Follow our business on Twitter® at www.twitter.com/MonsantoCo, on the company blog, Beyond the Rows at www.monsantoblog.com, or subscribe to our News Release RSS Feed.

Cautionary Statements Regarding Forward-Looking Information:

Certain statements contained in this release are "forward-looking statements," such as statements concerning the company's anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company's actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company's research and development activities; the outcomes of major lawsuits; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the company's ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company's facilities; and other risks and factors detailed in the company's most recent Form 10-K Report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.

SOURCE Monsanto Company