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Global conglomerate BASF is rolling out a series of new plant science and plant protection products for farmers in the United States as it aims to increase its share of fast-growing markets, executives of the German chemical giant said. South America is also a target as BASF shifts its agricultural emphasis -- and millions of dollars in research and development --away from Europe to markets more accepting of the genetically modified crop technology it says will be key to food security as world population grows.

New genetically altered corn aimed at helping farmers deal with drought offers more hype than help over the long term, according to a report issued on Tu esday by a science and environmental advocacy group. The Union for Concerned Scientists (UCS) said the only genetically altered corn approved by regulators and undergoing field trials in the United States has no improved water efficiency, and provides only modest results in only moderate drought conditions.

Shares in global agricultural giant Monsanto Co. jumped more than 3 percent after the world's largest seed company said on Wednesday it expected fiscal 2012 earnings to grow 25 percent over last year, with continued strong growth into 2013. Company Chairman Hugh Grant said that the company is raising 2012 earnings per share guidance to the range of $3.65 to $3.70 on an ongoing basis and $3.73 to $3.78 on an as-reported basis.

A damaging global dry spell is wilting wheat crops in Kansas, threatening exports from Russia and slowing sowing in Australia, serving a timely reminder to hedge funds that a new era of surplus grain is far from assured. In their biggest surge since 1996, Chicago wheat prices jumped by more than 17 percent last week and reached a nearly 9-month high of more than $7 a bushel on Monday, a rally stoked by short-covering among big speculators -- a group that had amassed a near-record short position betting on falling prices.

A group of U.S. seed, chemical and equipment companies will invest at least $150 million over the next few years into African agricultural projects and products, the companies said on Friday. The investments pledged by DuPont, Monsanto, Cargill and others are part of an overall $3 billion effort by companies around the world announced by President Barack Obama. Along with companies from India, Israel, Switzerland, Norway and the United Kingdom, and 20 companies from Africa, the corporations have committed some $3 billion for projects to help farmers in the developing world build local markets and improve productivity.

George Siemon has milk on his mind. "Grassmilk" to be specific. As the co-founder and chief executive for Organic Valley, a La Farge, Wisconsin-based cooperative that is the largest provider of organic milk in the United States, Siemon is on the hunt for new offerings for a growing market. The latest idea - milk from cows that primarily eat grasses, but never corn, soybeans or other supplemental grains commonly fed to dairy and beef cattle - was launched in April and is available in 200 stores in six western U.S. states. The milk has an earthy flavor that is a twist for the milk market.

Financial services group TIAA-CREF, which is a major agricultural investor, said on Monday it is partnering with Canadian and European money managers to form a $2 billion global farmland investing company to capitalize on the growing demand for grains and other agricultural products. U.S.-based TIAA-CREF, which also provides retirement services and has about $487 billion in assets under management, said it and several international institutional investors had $2 billion in commitments to invest in farmland in the United States, Australia and Brazil, all key grain exporters.

A fast-spreading plague of "super weeds" taking over U.S. farmland will not be stopped easily, and farmers and government officials need to change existing practices if food production is to be protected, industry experts said on Thursday. "This is a complex problem," said weed scientist David Shaw in remarks to a national "summit" of weed experts in Washington to come up with a plan to battle weeds that have developed resistance to herbicides.

A California initiative to require labeling of foods containing genetically modified ingredients appeared headed for the ballot in November after organizers said on Wednesday they had gathered nearly 1 million signatures in favor of the measure. The hotly contested proposal is similar to measures being pushed in other U.S. states and at the federal level as GMO opponents demand more transparency in food products.

Investor interest in agriculture is continuing to rise and investment experts expect to double assets under management in the next three years, according to a survey. But several factors, including the lack of transparency of this still-emerging asset class, are making some investors skittish. "That is one of the main issues," said Bill Kiernan, director of research for global agriculture investment at consulting firm HighQuest Partners.