KANSAS CITY (Dow Jones)--Monsanto's top executive said wheat remains the "poor cousin" to the larger corn and soybeans crops and hasn't therefore received the attention of researchers to develop biotech seeds.
"Wheat has become the poor cousin to corn and soy" in research and development, and the opportunities in wheat lie in "water management," said Hugh Grant, chief executive of St. Louis-based Montanto Co (MON).
Asked why wheat hasn't received the attention of the biotech community, Grant cited the problems associated with water management, particularly in drought prone areas such as Australia.
Grant made the comments before a session of the Society of American Business Editors and Writers' fall workshop in Kansas City.
If a company such as Monsanto would say yes today to developing a biotech wheat seed, it would take eight years to to finish - a major time and money commitment.
"There are no shortcuts," Grant said.
Monsanto shelved efforts for a Roundup Ready wheat variety in 2004, citing a longer-than-expected timeframe to achieving commercial production and declining spring wheat acreage. The company had begun techincal development of the variety in 1997.
Source: Tom Sellen, Dow Jones Newswires; 913-322-5177; tom.sellen@dowjones.com