MARKETING NEWS.

Monsanto Co., St. Louis, and BASF Corp., Ludwigshafen, Germany, have signed a letter of intent to facilitate continuing negotiations regarding participation in a point-of-sale data collection system. This system utilizes the established data collection infrastructure which supports the Harvest Partners preferred customer program, in place since 1993. Monsanto will join several other manufacturers in utilizing the current Harvest Partners processes for point-of-sale collection.

AgraQuest Inc., Davis, Calif., developer of natural pest management solutions, has completed a private placement of preferred stock, raising almost $15 million for the company. The round of financing was led by London-based CDC Capital Partners and Zurich-based SAM Sustainability Group. As part of the funding, CDC's director of technology-related investments, Joe A. Mancini, was appointed to AgraQuest's board of directors. Including this latest financing, AgraQuest has raised approximately $39 million through private equity investments since 1996.

Mycogen Seeds and Golden Acres Genetics, Richardson, Texas, have signed a letter of intent whereby Golden Acres will receive exclusive marketing rights to the Cargill Hybrid Seeds brand of corn and sorghum in selected areas of the southern United States. Mycogen will continue to sell and service Cargill Hybrid Seeds products in all parts of the United States for the current selling season. Following the 2001 planting season, the current Cargill Hybrid Seeds products will be distributed and serviced by Golden Acres under the Golden Acres brand.

Tyson Foods Inc. has agreed to buy IBP Inc. for $3.2 billion. In reaching the agreement, Tyson beat out Smithfield Foods Inc., though Smithfield said it had later offered $32 a share in stock without a response from IBE The agreement breaks an existing deal IBP had to sell itself to DLJ Merchant Banking for $2.4 billion. Farmers, agricultural officials and consumer activists are concerned that a purchase of IBP by Tyson would be anti-competitive. The deal is undergoing regulatory review and is expected to close in the first quarter. (Reuters)

The Clinton administration has rolled out new rules on organic food, under which foods labeled "organic" cannot include bioengineered ingredients or be irradiated to kill bacteria and lengthen shelf life. Meats sold as organic cannot be produced from animals that receive antibiotics. The label had previously fallen under state, regional and private certifier standards, leading to confusion about its meaning. USDA says the new standard will be fully implemented by August 2002. (Reuters)

Stoneville Pedigreed Seed Co., Memphis, acquires the Helena Cotton Research program from Helena Chemical Co., Memphis. Stoneville president Thomas F. "Bud" Hughes says the program gives Stoneville a pipeline of new products already in development, as well as additional cotton breeding stocks with high-quality fiber and crop maturities suited for mid-to-full-season production in the Southeast and the lower mid-South.