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Monsanto, BASF add wheat, $1B to crop venture

BASF and Monsanto Co. said Wednesday that they are expanding their joint efforts to develop higher-yielding and stress-tolerant crops to include wheat and may add more than $1 billion to those efforts.

The collaboration, established in 2007, originally included corn, soy, cotton and canola crops. Before the additional investments announced Wednesday, the two companies had already budgeted a joint contribution of $1.5 billion over the life of the collaboration.

[St. Louis Business Journal]