Monument Circle Acquisition Corp (MON)

[DewDiligence]

Mexico Approves Limited GM-Corn Plantings

[I’m taking the liberty of assuming that this approval includes MON’s SmartStax. With US, Canada, and Mexico in the bag, the SmartStax approvals for the 2010 season that are still pending are in Japan, South Korea and Taiwan (see #msg-39889760, about 2/3 of the way down).]

http://www.reuters.com/article/marketsNews/idAFN1527085220091016

›Thu Oct 15, 2009 8:36pm EDT

MEXICO CITY, Oct 15 (Reuters) - Mexico, considered by many to be the cradle of corn, issued permits on Thursday to grow genetically modified corn for the first time in a bid to eventually boost production of the grain.

Mexico's agriculture ministry said the two permits will allow only experimental genetically modified (GM) corn crops, which will be restricted to states where no native varieties of corn are grown. Some critics of GM corn in Mexico fear the modified crops could contaminate Mexico's ancient varieties of the grain.

"The crops will be experimental and will be grown on controlled plots that will be totally isolated from other crops," the ministry said in a statement.

Some farmers in the north of Mexico have grown GM corn illegally because it can be more resistant to drought and pests.

Corn is a staple of the Mexican diet, often eaten in flat patties of unleavened bread called tortillas. Mexico is the world's No. 4 producer of corn but it imports about half what it consumes.

The agriculture ministry did not say which firms received the permits. Thirty-five companies applied for them, including U.S. chemicals and biotech seed developer Monsanto Co.‹