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<B><FONT FACE="Courier"><P ALIGN="CENTER">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
</B>WASHINGTON, D.C. 20549</P>
<P ALIGN="CENTER">____________________</P>
</FONT><FONT SIZE=2><P ALIGN="CENTER"><IMG SRC="graphic.gif" WIDTH=100 HEIGHT=37></P>
</FONT><FONT FACE="Courier">
<B><P ALIGN="CENTER">Form S-8</P>
</B><P ALIGN="CENTER">REGISTRATION STATEMENT <br>
under<br>
THE SECURITIES ACT OF 1933</P>
<P ALIGN="CENTER">____________________</P>

<B><P ALIGN="CENTER">THE DOW CHEMICAL COMPANY<br>
(a Delaware corporation)</P>
</B><P ALIGN="CENTER">Executive Offices -- 2030 Dow Center<br>
Midland, Michigan 48674<I><br>
(Name, state of incorporation and address of principal executive office of issuer)</P>
</I>
<P ALIGN="CENTER">I.R.S. Employer Identification No. 38-1285128</P>
<P ALIGN="CENTER">____________________</P>
<B>
<P ALIGN="CENTER">Mycogen Corporation Deferred Savings Plan</B><I><br>
(Full title of the plan)</P>
</I><P ALIGN="CENTER">____________________</P>
<B>
</B><P ALIGN="CENTER">RICHARD L. MANETTA<br>
Corporate Vice President and General Counsel</P>
<P ALIGN="CENTER">THE DOW CHEMICAL COMPANY<br>
2030 Dow Center<br>
Midland, Michigan 48674<I><br>
(Name and address of agent for service)</P>
</I><P ALIGN="CENTER">Telephone:  (989) 636-1000</P>
<P ALIGN="CENTER">____________________</P>

<B><P ALIGN="CENTER">CALCULATION OF REGISTRATION FEE</P>
</B></FONT>
<TABLE BORDER CELLSPACING=2 CELLPADDING=7 WIDTH=708>
<TR><TD WIDTH="28%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Title <br>
of securities <br>
to be registered (1)</FONT></P>
  </TD>
<TD WIDTH="18%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Amount to<br>
be registered</FONT></P>
  </TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">Proposed maximum<br>
offering price per share(2)</FONT></P>
  </TD>
<TD WIDTH="19%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">Proposed maximum<br>
aggregate<br>
offering price (2)</FONT></P>
  </TD>
<TD WIDTH="19%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Amount of<br>
registration fee</FONT></P>
  </TD>
</TR>
<TR><TD WIDTH="28%" VALIGN="TOP" HEIGHT=47>
<FONT FACE="Courier"><P ALIGN="CENTER">Common Stock, par value $2.50 per share, of The Dow Chemical Company</FONT></TD>
<TD WIDTH="18%" VALIGN="TOP" HEIGHT=47>
<FONT FACE="Courier"><P ALIGN="CENTER">5,000<BR>
shares</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=47>
<FONT FACE="Courier"><P ALIGN="CENTER">$39.77</FONT></TD>
<TD WIDTH="19%" VALIGN="TOP" HEIGHT=47>
<FONT FACE="Courier"><P ALIGN="CENTER">$198,850</FONT></TD>
<TD WIDTH="19%" VALIGN="TOP" HEIGHT=47>
<FONT FACE="Courier"><P ALIGN="CENTER">$25.19</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Courier">
<OL>

</FONT><FONT FACE="Courier" SIZE=1><LI>In addition, pursuant to Rule 416(c) under the Securities Act of 1933, as amended, this Registration Statement covers an indeterminate amount of interests to be offered or sold pursuant to the Mycogen Corporation Deferred Savings Plan.</LI><LI>The price per share and the aggregate offering price, calculated pursuant to Rule 457(c) and provided herein for the sole purpose of determining the registration fee, are based on the average of the high and low prices of the Common Stock of The Dow Chemical Company on the New York Stock Exchange on May 3, 2004.</LI></P></OL>

</FONT><FONT FACE="Courier">
<P ALIGN="CENTER">PART II</P>

<B><P>Item 3.  INCORPORATION OF DOCUMENTS BY REFERENCE.</P>
</B>
<P ALIGN="JUSTIFY">&#9;The following documents heretofore filed by The Dow Chemical Company ("Dow") with the Securities and Exchange Commission (the "Commission") are incorporated herein by this reference:</P>
<P ALIGN="JUSTIFY">(a)  Dow's Annual Report on Form 10-K for the year ended December 31, 2003. (The consolidated financial statements and the related financial statement schedule incorporated by reference from Dow's Annual Report on Form 10-K have been audited by Deloitte &amp; Touche LLP, independent auditors, as stated in their reports, which are incorporated herein by reference.)</P>
<P ALIGN="JUSTIFY">(b)  Dow's Current Reports on Form 8-K dated January 29, 2004, February 13, 2004, April 12, 2004 and April 29, 2004; and Dow's Quarterly Report on Form 10-Q for the quarter ended March 31, 2004.</P>
<P ALIGN="JUSTIFY">&#9;(c)&#9;The description of Dow's Common Stock, par value $2.50 per share, contained in a registration statement filed pursuant to Section 12 of the Securities Exchange Act of 1934 (the "Act") and any amendments or reports filed for the purpose of updating that description.</P>
<P ALIGN="JUSTIFY">&#9;All documents subsequently filed by Dow pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Act prior to the filing of a post-effective amendment which indicates that all the securities offered hereby have been sold or which deregisters all such securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents.</P>
<B><P>Item 6.  IDEMNIFICATION OF DIRECTORS AND OFFICERS.</P>
</B>
<P ALIGN="JUSTIFY">Under Article&nbsp;VI of the Restated Certificate of Incorporation, as amended, Dow may indemnify its Directors, officers, employees and agents to such extent as is permitted by the laws of the State of Delaware and as Dow's Bylaws may from time to time provide.  Section&nbsp;145 of the General Corporation Law of the State of Delaware empowers Dow to indemnify, subject to the standards and limitations therein prescribed, any person in connection with any action, suit or proceeding brought or threatened by reason of the fact that such person is or was a Director, officer, employee or agent of Dow or is or was serving as such with respect to another corporation or other enterprise at the request of Dow.  Under Section&nbsp;VI of the Bylaws of Dow, Dow is required to indemnify its Directors, officers and employees to the fullest extent permitted by Delaware law whenever such a person is a defendant in any legal proceeding.  Section&nbsp;VI also gives the Company discretion to indemnify Directors, officers, employees and agents in other legal proceedings to which they are made a party.  Any indemnification of a Director, officer, employee or agent of the Company must be approved by the Board of Directors.  Dow maintains a Directors' and officers' liability insurance policy that indemnifies Dow's Directors and officers against certain losses in connection with claims made against them for certain wrongful acts.</P>

<B><P>Item 8.  EXHIBITS.</P>
</B></FONT>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=590>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>Exhibit No.</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>Description of Exhibit</P>
</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>4(a)</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>Restated Certificate of Incorporation of The Dow Chemical Company, filed as Exhibit 3(i) to Dow's Annual Report on Form 10-K for the year ended December 31, 2000, incorporated herein by this reference.</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>4(b)</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>Bylaws of The Dow Chemical Company, filed as Exhibit 3(ii) to Dow's Quarterly Report on Form 10-Q for the quarter ended March 31, 2003, incorporated herein by this reference.</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>23(a)</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>Independent Auditors' Consent.</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>23(b)</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>ARPC's Consent.</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>24</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Courier"><P>Power of Attorney.</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Courier">
<B><P>Item 9.  UNDERTAKINGS.</P>
</B>
<P ALIGN="JUSTIFY">(a)  The undersigned registrant hereby undertakes:</P>
<P ALIGN="JUSTIFY">&#9;(1)&#9;To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>

<P ALIGN="JUSTIFY">(i)&#9;To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</P>
<P ALIGN="JUSTIFY">(ii)&#9;To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement;</P>
<P ALIGN="JUSTIFY">(iii)To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</P>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>

<P ALIGN="JUSTIFY">&#9;Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is on Form S-3 or Form S-8, and the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement.</P>
<P ALIGN="JUSTIFY">&#9;(2)&#9;That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</P>
<P ALIGN="JUSTIFY">&#9;(3)&#9;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P ALIGN="JUSTIFY">(b)&#9;The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</P>

<P ALIGN="JUSTIFY">(c)&#9;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to Directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a Director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such Director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</P>

<P ALIGN="CENTER">SIGNATURES</P>
<P>&#9;The Registrant.  Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Midland, State of Michigan, on May 5, 2004.</P>

<P>&#9;&#9;&#9;&#9;&#9;THE DOW CHEMICAL COMPANY<br>
(Registrant) </P>
<P ALIGN="RIGHT">&nbsp;</P>
<P>&#9;&#9;&#9;&#9;&#9;By: <U>/S/ FRANK H. BROD<br>
</U>Frank H. Brod<br>
Vice President and                            Controller</P>

<P>Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.</P>
<U></U></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=427>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>A. A. ALLEMANG</U>*<br>
A. A. Allemang</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<U><FONT FACE="Courier">
</U><P>Director and Executive Vice President</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>J. K. BARTON</U>*<br>
J. K. Barton</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>F. H. BROD*<br>
</U>F. H. Brod</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Vice President and Controller (Principal Accounting Officer)</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>A. J. CARBONE</U>*<br>
A. J. Carbone</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director and Vice Chairman of the Board</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>J. M. COOK</U>*<br>
J. M. Cook</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>J. C. DANFORTH</U>*<br>
J. C. Danforth</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>W. D. DAVIS</U>*<br>
W. D. Davis</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>J.M.FETTIG*</U><br>
J.M. Fettig</P>
<U></U></FONT></TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>B. H. FRANKLIN</U>*<br>
B. H. Franklin</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2>
</FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=427>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier"><P>A.N.LIVERIS*</U><br>
A.N. Liveris</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier"><P>Director, President<br>
and Chief Operating<br>
Officer</FONT></P>
  </TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>K. R. MCKENNON*<br>
</U>K. R. McKennon</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director</P>
</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>J. P. REINHARD</U>*<br>
J. P. Reinhard</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director, Executive Vice President and Chief Financial Officer</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>J. M. RINGLER</U>*<br>
J. M. Ringler</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<FONT FACE="Courier">
<U><P>H. T. SHAPIRO</U>*<br>
H. T. Shapiro</P>
</FONT></TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Presiding Director</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<FONT FACE="Courier">
<U><P>W. S. STAVROPOULOS*<br>
</U>W. S. Stavropoulos</P>
<U></U></FONT></TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director, Chairman of the Board and Chief Executive Officer</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>P. G. STERN*<br>
</U>P. G. Stern</FONT></P>
  </TD>
<TD WIDTH="54%" VALIGN="TOP">
<FONT FACE="Courier">
<P>Director</FONT></TD>
</TR>
</TABLE>


<P>&nbsp;</P>
<FONT FACE="Courier"><P>*By: <U>/S/ FRANK H. BROD<br>
</U>Frank H. Brod<br>
Attorney-in-Fact<br>
May 5, 2004</P>
<P>&nbsp;</P>

<P>The Plan.  Pursuant to the requirements of the Securities Act of 1933, the Mycogen Corporation Deferred Savings Plan (the "Plan") has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Indianapolis, State of Indiana, on May 5, 2004.</P>

<P>MYCOGEN CORPORATION <br>
DEFERRED SAVINGS PLAN</P>
<P>By: <U>/S/ JOHN A. MADIA<br>
</U>John A. Madia<br>
Authorized Representative</P>

<B><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">EXHIBIT INDEX</P>
</B>
<P ALIGN="CENTER">&nbsp;</P></FONT>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=590>
<TR><TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Courier"><P>Exhibit No.</FONT></TD>
<TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Courier"><P>Description of Exhibit</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Courier"><P>Page Number</FONT></TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Courier"><P>4(a)</FONT></TD>
<TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Courier"><P>Restated Certificate of Incorporation of The Dow Chemical Company, filed as Exhibit 3(i) to Dow's Annual Report on Form 10-K for the year ended December 31, 2000, incorporated herein by this reference.</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Courier"><P>4(b)</FONT></TD>
<TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Courier"><P>Bylaws of The Dow Chemical Company, filed as Exhibit 3(ii) to Dow's Quarterly Report on Form 10-Q for the quarter ended March 31, 2003, incorporated herein by this reference.</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Courier"><P>23(a)</FONT></TD>
<TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Courier"><P>Independent Auditors' Consent.</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">11</FONT></TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Courier"><P>23(b)</FONT></TD>
<TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Courier"><P>ARPC's Consent.</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">12</FONT></TD>
</TR>
<TR><TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Courier"><P>24</FONT></TD>
<TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Courier"><P>Power of Attorney.</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">13-14</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Courier">
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">EXHIBIT 23(a)<br>
INDEPENDENT AUDITORS' CONSENT</P>
</FONT>
<FONT FACE="Courier"><P ALIGN="JUSTIFY">The Dow Chemical Company:</P>
<P ALIGN="JUSTIFY">We consent to the incorporation by reference in this Registration Statement of The Dow Chemical Company on Form S-8 of our reports dated January 29, 2004 (which report on the consolidated financial statements expresses an unqualified opinion and includes explanatory paragraphs relating to a change in the method of accounting for derivative instruments and hedging activities to conform to Statement of Financial Accounting Standards ("SFAS") No. 133, an explanatory paragraph relating to a change in the method of accounting for goodwill to conform with SFAS Nos. 141 and 142 and an explanatory paragraph relating to a change in the method of accounting for stock-based compensation to conform to SFAS No. 123) appearing in the Annual Report on Form 10-K of The Dow Chemical Company for the year ended December 31, 2003 and to the reference to us under the heading "Item 3. Incorporation of Documents by Reference" in this Registration Statement.</P>
</FONT>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=259>
<TR><TD VALIGN="TOP" HEIGHT=18>
<FONT FACE="Courier"><P>/S/ DELOITTE &amp; TOUCHE LLP</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" HEIGHT=18>
<FONT FACE="Courier"><P>Deloitte &amp; Touche LLP</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" HEIGHT=18>
<FONT FACE="Courier"><P>Midland, Michigan</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" HEIGHT=18>
<FONT FACE="Courier"><P>May 4, 2004</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2>
</FONT><FONT FACE="Courier">
<P>&nbsp;</P>
<P ALIGN="CENTER">Exhibit 23(b)<br>
Analysis, Research &amp; Planning Corporation's Consent</P>
<P ALIGN="CENTER"></P>
<P ALIGN="JUSTIFY">Regarding the Registration Statement on Form S-8 for the Mycogen Corporation Deferred Savings Plan (the "Registration Statement"), Analysis, Research &amp; Planning Corporation ("ARPC") hereby consents to the incorporation by reference in the Registration Statement of the use of ARPC's name and the reference to ARPC's reports dated January 9, 2003 and January 26, 2004 appearing in the Annual Report on Form 10-K of The Dow Chemical Company for the year ended December 31, 2003 and the Quarterly Report on Form 10-Q for The Dow Chemical Company for the quarter ended March 31, 2004.</P>
<P ALIGN="CENTER">&nbsp;</P>
<U><P>/S/ B. THOMAS FLORENCE<br>
</U>B. Thomas Florence<br>
President<br>
Analysis, Research &amp; Planning Corporation<br>
May 3, 2004</P>

<P ALIGN="CENTER"> &nbsp;</P>

<P ALIGN="CENTER"> EXHIBIT 24<br>
POWER OF ATTORNEY </P>
<P ALIGN="JUSTIFY">Each person whose signature appears below constitutes and appoints J. Pedro Reinhard, Richard L. Manetta and Frank H. Brod, acting severally, as his or her attorney-in-fact and agent, to sign one or more registration statements on Form S-8 and any or all amendments (including post-effective amendments) to such registration statements in connection with the registration under the Securities Act of 1933 of shares of Common Stock of The Dow Chemical Company and other securities for the <B>Mycogen Corporation Deferred Savings Plan,</B> and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting to said attorney-in-fact and agent full power and authority to perform any act in connection with any of the foregoing as fully to all intents and purposes as he or she might do in person, hereby ratifying and confirming all that said attorney-in-fact and agent may lawfully do or cause to be done by virtue hereof.  Each attorney-in-fact and agent is hereby granted full power of substitution and revocation with respect hereto.</P>
<U></U></FONT>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=590>
<TR><TD WIDTH="37%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">SIGNATURE</FONT></TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">TITLE</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">DATE</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ A.A. ALLEMANG</U><B><br>
A.A. Allemang</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">Director and Executive Vice President</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ J.K. BARTON</U><B><br>
J.K. Barton</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ F.H. BROD</U><B><br>
F.H. Brod</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">Vice President and Controller (Principal Accounting Officer)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ A.J. CARBONE</U><B><br>
A.J. Carbone</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director and Vice Chairman of the Board</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ J.M. COOK</U><B><br>
J.M. Cook</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<p ALIGN="CENTER"><font face="Courier">April 28, 2004</font></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ J.C. DANFORTH</U><B><br>
J.C. Danforth</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ W.D. DAVIS</U><B><br>
W.D. Davis</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ J.M. FETTIG</U><B><br>
J. M. Fettig</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ B.H. FRANKLIN</U><B><br>
B.H. Franklin</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ A.N. LIVERIS</U><B><br>
A.N. Liveris</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">Director, President and Chief Operating Officer</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ K.R. McKENNON</U><B><br>
K.R. McKennon</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ J.P. REINHARD</U><B><br>
J.P. Reinhard</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">Director, Executive Vice President and Chief Financial Officer</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ J.M. RINGLER</U><B><br>
J.M. Ringler</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ H.T. SHAPIRO</U><B><br>
H.T. Shapiro</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">Presiding Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P>/S/W.S. STAVROPOULOUS</U><B><br>
W.S. Stavropoulos</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier"><P ALIGN="CENTER">Director, Chairman of the Board and Chief Executive Officer</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<U><FONT FACE="Courier">
<P ALIGN="CENTER">/S/ P.G. STERN</U><B><br>
P.G. Stern</B></FONT></P>
  </TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">Director</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Courier">
<P ALIGN="CENTER">April 28, 2004</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=2></FONT></BODY>
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{"company-data": {"conformed-name": "DOW CHEMICAL CO /DE/", "cik": "0000029915", "assigned-sic": "2821", "irs-number": "381285128", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-115185", "film-number": "04781205"}, "business-address": {"street1": "2030 DOW CENTER", "city": "MIDLAND", "state": "MI", "zip": "48674-2030", "phone": "5176361000"}, "mail-address": {"street1": "2030 DOW CENTER", "city": "MIDLAND", "state": "MI", "zip": "48674-2030"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
Form S-8
REGISTRATION STATEMENT
under
THE SECURITIES ACT OF 1933
____________________
THE DOW CHEMICAL COMPANY
(a Delaware corporation)
Executive Offices -- 2030 Dow Center
Midland, Michigan 48674
(Name, state of incorporation and address of principal executive office of issuer)
I.R.S. Employer Identification No. 38-1285128
____________________
Mycogen Corporation Deferred Savings Plan
(Full title of the plan)
____________________
RICHARD L. MANETTA
Corporate Vice President and General Counsel
THE DOW CHEMICAL COMPANY
2030 Dow Center
Midland, Michigan 48674
(Name and address of agent for service)
Telephone:  (989) 636-1000
____________________
CALCULATION OF REGISTRATION FEE
Title
of securities
to be registered (1)
Amount to
be registered
Proposed maximum
offering price per share(2)
Proposed maximum
aggregate
offering price (2)
Amount of
registration fee
Common Stock, par value $2.50 per share, of The Dow Chemical Company
5,000
shares
$39.77
$198,850
$25.19
In addition, pursuant to Rule 416(c) under the Securities Act of 1933, as amended, this Registration Statement covers an indeterminate amount of interests to be offered or sold pursuant to the Mycogen Corporation Deferred Savings Plan.
The price per share and the aggregate offering price, calculated pursuant to Rule 457(c) and provided herein for the sole purpose of determining the registration fee, are based on the average of the high and low prices of the Common Stock of The Dow Chemical Company on the New York Stock Exchange on May 3, 2004.
PART II
Item 3.  INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents heretofore filed by The Dow Chemical Company ("Dow") with the Securities and Exchange Commission (the "Commission") are incorporated herein by this reference:
(a)  Dow's Annual Report on Form 10-K for the year ended December 31, 2003. (The consolidated financial statements and the related financial statement schedule incorporated by reference from Dow's Annual Report on Form 10-K have been audited by Deloitte & Touche LLP, independent auditors, as stated in their reports, which are incorporated herein by reference.)
(b)  Dow's Current Reports on Form 8-K dated January 29, 2004, February 13, 2004, April 12, 2004 and April 29, 2004; and Dow's Quarterly Report on Form 10-Q for the quarter ended March 31, 2004.
(c)	The description of Dow's Common Stock, par value $2.50 per share, contained in a registration statement filed pursuant to Section 12 of the Securities Exchange Act of 1934 (the "Act") and any amendments or reports filed for the purpose of updating that description.
All documents subsequently filed by Dow pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Act prior to the filing of a post-effective amendment which indicates that all the securities offered hereby have been sold or which deregisters all such securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents.
Item 6.  IDEMNIFICATION OF DIRECTORS AND OFFICERS.
Under Article VI of the Restated Certificate of Incorporation, as amended, Dow may indemnify its Directors, officers, employees and agents to such extent as is permitted by the laws of the State of Delaware and as Dow's Bylaws may from time to time provide.  Section 145 of the General Corporation Law of the State of Delaware empowers Dow to indemnify, subject to the standards and limitations therein prescribed, any person in connection with any action, suit or proceeding brought or threatened by reason of the fact that such person is or was a Director, officer, employee or agent of Dow or is or was serving as such with respect to another corporation or other enterprise at the request of Dow.  Under Section VI of the Bylaws of Dow, Dow is required to indemnify its Directors, officers and employees to the fullest extent permitted by Delaware law whenever such a person is a defendant in any legal proceeding.  Section VI also gives the Company discretion to indemnify Directors, officers, employees and agents in other legal proceedings to which they are made a party.  Any indemnification of a Director, officer, employee or agent of the Company must be approved by the Board of Directors.  Dow maintains a Directors' and officers' liability insurance policy that indemnifies Dow's Directors and officers against certain losses in connection with claims made against them for certain wrongful acts.
Item 8.  EXHIBITS.
Exhibit No.
Description of Exhibit
4(a)
Restated Certificate of Incorporation of The Dow Chemical Company, filed as Exhibit 3(i) to Dow's Annual Report on Form 10-K for the year ended December 31, 2000, incorporated herein by this reference.
4(b)
Bylaws of The Dow Chemical Company, filed as Exhibit 3(ii) to Dow's Quarterly Report on Form 10-Q for the quarter ended March 31, 2003, incorporated herein by this reference.
23(a)
Independent Auditors' Consent.
23(b)
ARPC's Consent.
24
Power of Attorney.
Item 9.  UNDERTAKINGS.
(a)  The undersigned registrant hereby undertakes:
(1)	To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)	To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
(ii)	To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement;
(iii)To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is on Form S-3 or Form S-8, and the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement.
(2)	That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3)	To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)	The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)	Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to Directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a Director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such Director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
SIGNATURES
The Registrant.  Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Midland, State of Michigan, on May 5, 2004.
THE DOW CHEMICAL COMPANY
(Registrant)
By:
/S/ FRANK H. BROD
Frank H. Brod
Vice President and                            Controller
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.
A. A. ALLEMANG
*
A. A. Allemang
Director and Executive Vice President
J. K. BARTON
*
J. K. Barton
Director
F. H. BROD*
F. H. Brod
Vice President and Controller (Principal Accounting Officer)
A. J. CARBONE
*
A. J. Carbone
Director and Vice Chairman of the Board
J. M. COOK
*
J. M. Cook
Director
J. C. DANFORTH
*
J. C. Danforth
Director
W. D. DAVIS
*
W. D. Davis
Director
J.M.FETTIG*
J.M. Fettig
Director
B. H. FRANKLIN
*
B. H. Franklin
Director
A.N.LIVERIS*
A.N. Liveris
Director, President
and Chief Operating
Officer
K. R. MCKENNON*
K. R. McKennon
Director
J. P. REINHARD
*
J. P. Reinhard
Director, Executive Vice President and Chief Financial Officer
J. M. RINGLER
*
J. M. Ringler
Director
H. T. SHAPIRO
*
H. T. Shapiro
Presiding Director
W. S. STAVROPOULOS*
W. S. Stavropoulos
Director, Chairman of the Board and Chief Executive Officer
P. G. STERN*
P. G. Stern
Director
*By:
/S/ FRANK H. BROD
Frank H. Brod
Attorney-in-Fact
May 5, 2004
The Plan.  Pursuant to the requirements of the Securities Act of 1933, the Mycogen Corporation Deferred Savings Plan (the "Plan") has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Indianapolis, State of Indiana, on May 5, 2004.
MYCOGEN CORPORATION
DEFERRED SAVINGS PLAN
By:
/S/ JOHN A. MADIA
John A. Madia
Authorized Representative
EXHIBIT INDEX
Exhibit No.
Description of Exhibit
Page Number
4(a)
Restated Certificate of Incorporation of The Dow Chemical Company, filed as Exhibit 3(i) to Dow's Annual Report on Form 10-K for the year ended December 31, 2000, incorporated herein by this reference.
4(b)
Bylaws of The Dow Chemical Company, filed as Exhibit 3(ii) to Dow's Quarterly Report on Form 10-Q for the quarter ended March 31, 2003, incorporated herein by this reference.
23(a)
Independent Auditors' Consent.
11
23(b)
ARPC's Consent.
12
24
Power of Attorney.
13-14
EXHIBIT 23(a)
INDEPENDENT AUDITORS' CONSENT
The Dow Chemical Company:
We consent to the incorporation by reference in this Registration Statement of The Dow Chemical Company on Form S-8 of our reports dated January 29, 2004 (which report on the consolidated financial statements expresses an unqualified opinion and includes explanatory paragraphs relating to a change in the method of accounting for derivative instruments and hedging activities to conform to Statement of Financial Accounting Standards ("SFAS") No. 133, an explanatory paragraph relating to a change in the method of accounting for goodwill to conform with SFAS Nos. 141 and 142 and an explanatory paragraph relating to a change in the method of accounting for stock-based compensation to conform to SFAS No. 123) appearing in the Annual Report on Form 10-K of The Dow Chemical Company for the year ended December 31, 2003 and to the reference to us under the heading "Item 3. Incorporation of Documents by Reference" in this Registration Statement.
/S/ DELOITTE & TOUCHE LLP
Deloitte & Touche LLP
Midland, Michigan
May 4, 2004
Exhibit 23(b)
Analysis, Research & Planning Corporation's Consent
Regarding the Registration Statement on Form S-8 for the Mycogen Corporation Deferred Savings Plan (the "Registration Statement"), Analysis, Research & Planning Corporation ("ARPC") hereby consents to the incorporation by reference in the Registration Statement of the use of ARPC's name and the reference to ARPC's reports dated January 9, 2003 and January 26, 2004 appearing in the Annual Report on Form 10-K of The Dow Chemical Company for the year ended December 31, 2003 and the Quarterly Report on Form 10-Q for The Dow Chemical Company for the quarter ended March 31, 2004.
/S/ B. THOMAS FLORENCE
B. Thomas Florence
President
Analysis, Research & Planning Corporation
May 3, 2004
EXHIBIT 24
POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints J. Pedro Reinhard, Richard L. Manetta and Frank H. Brod, acting severally, as his or her attorney-in-fact and agent, to sign one or more registration statements on Form S-8 and any or all amendments (including post-effective amendments) to such registration statements in connection with the registration under the Securities Act of 1933 of shares of Common Stock of The Dow Chemical Company and other securities for the
Mycogen Corporation Deferred Savings Plan,
and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting to said attorney-in-fact and agent full power and authority to perform any act in connection with any of the foregoing as fully to all intents and purposes as he or she might do in person, hereby ratifying and confirming all that said attorney-in-fact and agent may lawfully do or cause to be done by virtue hereof.  Each attorney-in-fact and agent is hereby granted full power of substitution and revocation with respect hereto.
SIGNATURE
TITLE
DATE
/S/ A.A. ALLEMANG
A.A. Allemang
Director and Executive Vice President
April 28, 2004
/S/ J.K. BARTON
J.K. Barton
Director
April 28, 2004
/S/ F.H. BROD
F.H. Brod
Vice President and Controller (Principal Accounting Officer)
April 28, 2004
/S/ A.J. CARBONE
A.J. Carbone
Director and Vice Chairman of the Board
April 28, 2004
/S/ J.M. COOK
J.M. Cook
Director
April 28, 2004
/S/ J.C. DANFORTH
J.C. Danforth
Director
April 28, 2004
/S/ W.D. DAVIS
W.D. Davis
Director
April 28, 2004
/S/ J.M. FETTIG
J. M. Fettig
Director
April 28, 2004
/S/ B.H. FRANKLIN
B.H. Franklin
Director
April 28, 2004
/S/ A.N. LIVERIS
A.N. Liveris
Director, President and Chief Operating Officer
April 28, 2004
/S/ K.R. McKENNON
K.R. McKennon
Director
April 28, 2004
/S/ J.P. REINHARD
J.P. Reinhard
Director, Executive Vice President and Chief Financial Officer
April 28, 2004
/S/ J.M. RINGLER
J.M. Ringler
Director
April 28, 2004
/S/ H.T. SHAPIRO
H.T. Shapiro
Presiding Director
April 28, 2004
/S/W.S. STAVROPOULOUS
W.S. Stavropoulos
Director, Chairman of the Board and Chief Executive Officer
April 28, 2004
/S/ P.G. STERN
P.G. Stern
Director
April 28, 2004