Monsanto Company (NYSE: MON) and Dow AgroSciences LLC, a subsidiary of The Dow Chemical Company (NYSE: DOW), have reached new cross-licensing agreements for creation of the next generation of advanced weed and insect control technology in corn. Monsanto will license Dow AgroSciences’ new Enlist™ Weed Control System herbicide-tolerant trait for use in field corn. Dow AgroSciences will license Monsanto’s third generation corn rootworm technology, Corn Rootworm III, which is presently under development by Monsanto and offers a new mode of action for rootworm control. The agreement paves the way for introduction (pending regulatory approvals) of next-generation products that build off the current SmartStax® platform, which includes Dow’s Herculex and Monsanto’s insect resistance and herbicide-tolerance traits. Financial terms of the agreement were not disclosed.