Monsanto (NYSE:MON) has had a mixed bag of wins and losses recently, and after the ban on genetically modified sugar beets recently until further studies are done, they needed a win, and they got it with the approval from Brazil for their Roundup Ready 2 Yield Soybeans.
As a result, Monsanto will be allowed to market the soybeans in the lucrative Brazil market.
This is the first introduction of a crop with a biotechnology trait designed for outside the American market.
The next step in the process will be to get approval from global markets for the soybeans in order to make growing it in Brazil a commercially viable enterprise.
Brazilian approval is one thing, approval to import the soybeans form other countries is another.
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