Genetically Engineered Corn Is Delayed

Monsanto Co. said it will delay the launch of its rootworm-killing genetically engineered corn for a year to ensure that it gets full U.S. and Japanese government approval. St. Louis-based Monsanto is trying to avoid the problems competitor Aventis faces with its StarLink corn, which is at the center of a 300-product food recall in the U.S. In a speech to farmers and farm industry officials in Washington, Monsanto Chief Executive Hendrik Verfaillie pledged to address consumer and environmentalist fears over biotech crops. Verfaillie revealed a list of more than a dozen promises, including one to share its technology with poor countries and one to never use animal or human genes in its food crops. Monsanto, a leading developer of genetically engineered crops, is concerned about losing its farmer customers, especially those who export their crops. Shares rose 13 cents to close at $23.56 on the NYSE.