Tuesday, July 20, 2010

Monsanto (NYSE:MON) Closer to Commercializing New Soybean

Monsanto (NYSE:MON) said in a recent press release completed the latest submission to the U.S. Department of Agriculture for dicamba-tolerant soybeans.

The next steps will be to submit to the US Food and Drug Administration and other important global markets they plan on marketing the product to.

Roy Fuchs, global oilseeds lead for Monsanto, said, "We continue to identify and develop additional options to help soybean farmers protect and increase their yields and better control weeds and other soybean pests. This new biotech trait, combined with the Genuity Roundup Ready 2 Yield trait, would offer growers a flexible and effective weed management system for soybeans along with greater yield opportunity."

There is very little weed resistance to dicamba, with only two know species of weeds in the United States showing any resistance, and concerning soybeans, they exist primarily outside the most important production regions.

Monsanto is also working on gaining approval for a cotton product which would be dicamba tolerant as well.

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