Monsanto (NYSE:MON) revealed in a press release today that they're adding a new corn herbicide to its portfolio named TripleFLEX.
The new corn herbicide will be used for pre-emerge and post-emerge in corn plantings, and should be ready for use in 2011 planting season.
According to Monsanto, "TripleFLEX with acetochlor and broadleaf active ingredients flumetsulam and clopyralid, contains three modes of action with a flexible window of application. TripleFLEX will control a broad spectrum of grasses as well as small and large seeded broadleaf weeds such as pigweed, lambsquarters, waterhemp, velvetleaf and ragweed species."
Investors were selling off Monsanto today, with the stock dropping $1.24, or 2.42 percent, to finish the day at $49.99.
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