Monsanto's web site reports: "One of the great benefits of biotechnology is that it has enabled my son and me to reduce the use of insecticides on our farm by 80 percent," Leon Corzine says.

He's a farmer who operates a fifth-generation corn and soybean farm with his son in Assumption, Ill.

"SmartStax corn will allow us to reduce our insecticide use even further to 5 percent of our corn acres, while improving insect control and our environmental footprint will be lowered," he says. "Additionally, the lower refuge in the corn belt for SmartStax means I can better protect 15 percent more of my acres from potential yield loss."

As part of the announcement, EPA and CFIA have reduced the refuge required in corn from 20pc to 5pc and in cotton from 50pcto 20pc for both above and below ground pests.

Peribere says: "SmartStax corn will offer farmers the most advanced, all-in-one corn trait system for insect and weed control.

"It will result in a yield enhancement potential over the current market-leading triple stack products."

Dow and Monsanto are also working with regulatory agencies in several key export countries to have import approval for SmartStax in place prior to the 2010 season.

"SmartStax is the first ever eight gene corn stack, it is truly not only innovative but a revolutionary corn product for farmers," Monsanto vice president of US product management Phil Miller says.

"SmartStax is a game-changing technology, bringing increased corn yields of 5-10pc, also bringing the broadest spectrum of above and below ground pest control available in the market today."

Miller also said that the reduction in refuge requirements represent an enormous savings for farmers without compromising or sacrificing the long-term durability of these critical technologies.

During a press call with the media, the question was asked why farmers who did not have significant below ground pest pressure pay for something they didn't need.

"As we approach this in the market, what we'll do is offer the SmartStax technology broadleaf in all geographies and then we will plan on pricing these products to the value they bring in that specific geography," Miller says.

"Our goal on all of our products including the traits in SmartStax is to price the product accurately and reflect the value to growers and how they realize that value in that particular geography."

According to Tom Wiltrout, Dow AgroSciences' global seeds, traits and oils strategy leader, the goal is to have seed in almost all maturities for next year's launch, ranging from 80-day to 115-day corn in the US, and it will be offered in Mycogen and affiliate brands including Triumph, Dairyland, Renzie, BroadBeck, and Pfister.

"For Monsanto, we'll be launching this under Genuity SmartStax, which Genuity is the family of traits we'll be bringing to the market," Miller said.

"We will have this offered in the Monsanto national brands, such as DEKALB, as well as our ASI company brands that are in the markets, and we've made this broad offering to greater than 200 licencees of our technologies and many have accepted and signed up to have access to this product."