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In selling its eight-trait SmartStax corn hybrids, Monsanto is not only competing with competitors’ hybrids, but also its own triple-stacked hybrids, says Brett Begemann, the company’s executive vice president for seeds and traits.
“Has this been more challenging than we anticipated?” said Begemann at a Goldman Sachs’ biotech forum in New York in early February. “Yes, it has. But I still feel good about where we will be in the next 2 years.”
Monsanto is selling enough SmartStax seed for about 4 million acres this year. According to a published report in the Des Moines Register, Begemann told analysts that SmartStax is competing against its corn hybrids with triple-stacked traits that it sells through the company’s DeKalb seed brand and subsidiaries like Kruger,Fontanelle and Holden’s.
SmartStax, which both Monsanto and Dow AgroSciences’ Mycogen Seeds are offering this year, received approval from the Environmental Protection Agency for a 5% refuge in the Corn Belt. Other hybrids sold by competitors require an EPA-mandated refuge of 20% in the Corn Belt.