Monsanto, Dow Get US, Canada OKs For SmartStax Corn

   DOW JONES NEWSWIRES 
 

Monsanto Co. (MON) and Dow Chemical Co. (DOW) received U.S. and Canadian approvals for their SmartStax corn seed technology, clearing the way for the product to hit the market in 2010.

Such technologies raise hackles among some, who fear what effects they may have on the environment and food safety. However, those concerns are less prevalent in North America than in Europe, and developers have said the technologies provide a way to feed more people with less damage from chemicals and land clearing.

SmartStax, the product of a 2007 collaboration agreement, combines each company's corn traits to provide farmers broader protection against insects and weeds. Monsanto Chief Technology Officer Robb Fraley said the technology "will give farmers a tremendous advantage to increase whole farm corn yield 5% to 10%."

The companies expect to offer the seeds to farmers of 3 million to over 4 million acres in the first year of availability.

Monsanto and Dow are working with other countries to have import approvals in place in time for the 2010 U.S. season.

In after-hours trading, Monsanto shares were up 3.6% to $79.31. Dow shares were up 0.6% to $17.91, adding to a 4.8% rise during the regular session.

-By Jay Miller, Dow Jones Newswires; 212-416-2355; [e-mail]