Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, November 10, 2014

U.S. hopes for GMO crop cultivation in China still alive, barely, (NYSE: MON)

DuPont Pioneer, one of the world's largest seed companies, is refusing to give up on efforts to cultivate genetically modified crops in Chinese fields in the face of regulatory hurdles, even as rivals pull back. The Iowa-based agricultural seed and chemical unit of DuPont this autumn harvested its first test crops of GMO corn in China in six years after lengthy efforts to win government approval for the new field trials.The company is pressing ahead while Monsanto Co is retreating from efforts to grow GMO crops in China amid mounting frustrations within the U.S. seed industry about Beijing's slow regulatory processes.Industry leaders say they are focusing on winning Chinese clearance for imports of new genetically engineered crops rather than for cultivation approval.China is already a large producer of genetically engineered cotton, but has not approved commercial cultivation for any type of biotech corn. Approval to sell GMO corn seed to Chinese farmers would mark a big victory for a U.S. seed maker because China is the world's fastest-growing corn market.

Monsanto Company (Monsanto) along with its subsidiaries, is a provider of agricultural products for farmers. Shares of MON fell by 0.06% or $-0.07/share to $114.44. In the past year, the shares have traded as low as $104.08 and as high as $128.79. On average, 4243370 shares of MON exchange hands on a given day and today's volume is recorded at 10836146.