Monday
Aug292011
"AP" - Monsanto shares fall on bug-resistant corn woes
August 29, 2011 The Associated Press, August 29 2011
http://m.cnbc.com/id/44314062/
Shares of farm chemical and seed maker Monsanto Co. tumbled nearly 4 percent early Monday on a published report about rootworms that are developing resistance to a natural pesticide made by the company.
Monsanto has been working for years to shift its business focus away from farm chemicals and into genetically altered seeds.
The Wall Street Journal reported Monday that... entomologist Aaron Gassmann found that western corn rootworms were becoming resistant to the corn that was genetically changed by Monsanto to resist the pest. The paper said that the discovery could cause farmers to switch to insect-resistant seeds sold by competitors, and they could return to spraying fields with insecticides.
Monsanto was the first company to sell rootworm-resistant corn to farmers starting in 2003.
http://m.cnbc.com/id/44314062/
Shares of farm chemical and seed maker Monsanto Co. tumbled nearly 4 percent early Monday on a published report about rootworms that are developing resistance to a natural pesticide made by the company.
Monsanto has been working for years to shift its business focus away from farm chemicals and into genetically altered seeds.
The Wall Street Journal reported Monday that... entomologist Aaron Gassmann found that western corn rootworms were becoming resistant to the corn that was genetically changed by Monsanto to resist the pest. The paper said that the discovery could cause farmers to switch to insect-resistant seeds sold by competitors, and they could return to spraying fields with insecticides.
Monsanto was the first company to sell rootworm-resistant corn to farmers starting in 2003.
