BASF and Monsanto take dicamba tolerant cropping system collaboration to the next level

* Successful field trials pave way for licensing and supply agreement
* Contract includes collaboration on stewardship package



LUDWIGSHAFEN , GERMANY and ST. LOUIS, MISSOURI, USA – BASF and Monsanto Company (NYSE: MON) today announced a new agreement to collaborate on the advancement of dicamba tolerant cropping systems. The companies have granted reciprocal licenses, and BASF has agreed to supply formulated dicamba herbicide products to Monsanto.



The agreement will facilitate further development work and subsequent commercialization of a dicamba tolerant system, which includes innovative dicamba formulations proprietary to BASF and the dicamba tolerant trait for soybeans, which is proprietary to Monsanto. The system is expected to be introduced in the United States and Canada in the middle of the decade, pending regulatory approvals.



Both Monsanto and BASF will have the right to commercialize new dicamba herbicide formulations optimized for use with dicamba tolerant crops and the right to develop their own mixtures with certain herbicides. In addition, the two companies will collaborate on the development of stewardship guidelines and best management practices for the dicamba tolerant system. Further details of the agreement were not disclosed.



“The introduction of dicamba tolerant crops combined with improved dicamba formulations will provide farmers the tools they need to combat the yield-robbing weed resistance some are facing in their fields today,” said Markus Heldt, President of BASF’s Crop Protection division. “Since the introduction of Clarity ® in 1992, BASF has continually improved its dicamba offerings. Our next generation products will offer yet another step change in volatility reduction while maintaining the highest level of weed control. The system, along with proper stewardship measures, will ultimately deliver peace of mind for growers.”



“We are committed to providing farmers with the weed management tools they need to be successful,” said Robb Fraley, Monsanto’s chief technology officer. “Our work with BASF brings us one step closer to bringing more improved weed control offerings to farmers. We expect the formulations to be an excellent complement to Monsanto’s dicamba tolerant seed technologies when they are brought to market.”



Upon commercialization, the dicamba tolerance trait is expected to be stacked with the high yielding Genuity® Roundup Ready 2 Yield® soybean trait. Monsanto also has corn, cotton and canola dicamba tolerant crops in its research and development pipeline. These next-generation technologies are aimed at offering farmers multiple modes of action and superior application timing flexibility in combating weeds.



In November 2010, Monsanto and BASF published favorable results of joint field testing of new dicamba-based formulations with Monsanto’s next-generation dicamba tolerant soybeans. The new formulations demonstrated excellent weed control and crop safety. BASF, the world’s leading chemical company, and Monsanto, the world’s leading agriculture technology company, first announced 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, performance products and agricultural products to 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 about €63.9 billion in 2010 and had approximately 109 ,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 or in its Social Media Newsroom at newsroom.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 .