Monsanto Co. has agreed to continue to keep its Roundup Ready soybeans under export through 2012, according to a Reuters report. The company said it will support international registrations for the soybeans four years longer than intended, spending an estimated $1 to $2 million a year to do so.
Some in the farm industry want further action to make sure these popular seeds that come off patent in 2014 remain available. Monsanto has been promoting its new Roundup Ready 2 soybean seed saying it produces better yields. But customers have balked because the more expensive seeds have lower-than-expected yields.