In order to inform the strategic planning process for a soybean client, identify US companies that are investing in or developing new technology related to the soybean industry. For each company identified, describe the technology, what it is being used for, how long it has been in development/has been used, the nature of the relationship (investment of what amount, development in what form), and the success of the technology.
- BASF partnered with MS Technologies and Mertec LLC to develop GT27 soybeans, which are tolerant to glyphosate and a new HPPD/Group 27 herbicide.
- This is the first soybean seed "with herbicide-tolerant stacked traits." It will "give growers the benefit of two modes of herbicide action to combat a broad spectrum of grasses and broadleaves, including a number of herbicide-resistant weeds."
- BASF brought GT27 soybeans to market in August 2018 under the name Credenz® soybean with LibertyLink® GT27™. They note that the development of GT27 soybeans took "more than a decade."
- While the amount invested in the development of this seed could not be found, it was disclosed that the GT27 seed technology was included in the purchase by BASF of the Bayer Crop Sciences business for 5.9 billion Euro, as part of the larger deal for Bayer to purchase Monsanto. This purchase increased BASF's "annual sales among crop protection/seed companies into the $9 billion range globally."
- The Credenz LibertyLink GT27 variety of soybeans has been shown to "have about two to four bushels per acre average yield advantage over leading commercial soybean trait systems."
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