Getting back to business after the collapse of the plan to take over Swiss rival Syngenta, Monsanto’s CEO, Hugh Grant, told journalists this week the company no longer sees “large scale” M&A as a viable strategy.

Instead, he said the company plans to look to research and development, and commercial partnerships to generate growth in its crop protectant and seeds business.

Presenting Monsanto’s quarterly results, Grant said he believes the agrochemicals industry will continue to rationalize, focusing investment to the higher-return options, and this will translate into further R&D or commercial partnerships” for which we are uniquely positioned to participate.”

While the Monsanto chief did not comment on any possible deals that might be in the works, the company has been seen as exploring potential collaborations with BASF and Bayer.