Monsanto Co. (MON), the world’s largest seed producer, is selling off its rights to a synthetic milk-producing hormone in order to focus its attention more closely on its core business of developing genetically modified seeds and pesticides. U.S. pharmaceutical company Eli Lilly & Co. (LLY) will pay Monsanto $300 million for Posilac, the brand name for recombinant bovine somatotropin or rBST. The deal includes the global sale rights and a Georgia-based manufacturing plant.

Editor’s Note: Money Morning’s Jennifer Yousfi has been talking a lot about the impact of rising corn prices on US food producers. With input costs of animal feed spiraling out of control, many producers are struggling to keep their heads above water. For investors, says Jennifer, this means no “slam-dunk” profit play. But Jennifer says she’s found three companies that she thinks offer good bargains…