The last major seed company purchases we made were back in 2005, which were the acquisition of our DeRuiter and Seminis vegetable seed companies. While many are quick to think of Monsanto as a biotech company, some may be surprised to know we also offer and are focused on innovation in conventional seeds as well. At the end of the day, our focus is simply on delivering a suite of choices for farmers.
Regarding the second part of your question, innovation and competition are robust in the industry and have intensified in recent years. Monsanto¹s seed businesses compete with other multinational companies, as well as hundreds of smaller companies regionally.
While I don’t have the exact percentages, if you consider the U.S. market for corn and soybean seed, our seed brands would be roughly 1/3 of those markets. There is one other company with a similar or larger share in corn, and our market share is second in soybeans as well. In fact, there are literally hundreds of other seed companies who sell corn and soybean seed to American farmers. More than 1,000 separate seed companies supply the commercial seed market globally. While Monsanto is one of the largest commercial seed companies, what we offer is less than five percent of the world's seeds.