Dow launches new genetically modified soybean seed in the U.S., taking aim at Monsanto

Dow AgroSciences is launching a genetically engineered soybean seed in the United States that’s been barred by major importers, the company said this week. Archer Daniels Midland Co., one of the world’s largest grain companies, will oversee the handling of the harvests to keep them out of Europe and China, which have not yet approved imports of the soybeans.The arrangement with ADM shows the lengths that Dow, a division of DowDuPont Inc., is taking to get its Enlist E3 soybean seeds to market as it faces increasing competition for U.S. sales from Creve Coeur-based Monsanto Co.Dow also is coping with long regulatory reviews by China and Europe, importers that have frustrated the U.S. seed sector for years with slow approvals for new genetically engineered crops. The company first submitted E3 soybeans for clearance in Europe in 2012 and in China in 2013.“You cannot predict when you will see the approvals,” said Joe Vertin, global leader for the Enlist brand.Getting new genetically engineered seeds to market quickly is important for seed companies because it can take up to 10 years and $150 million to develop products.