- Monsanto (NYSE:MON-OLD) says the European Commission has granted import approval for Roundup Ready 2 Xtend soybeans, allowing for the import and food/feed use of the new genetically modified soybean into the EU.
- The Commission's OK comes after EU member states had failed to reach an agreement on whether to license the product.
- The ruling removes uncertainty for MON, which already had sold the seeds to farmers this year, and for grain companies, some of which had refused to purchase the soybeans from farmers without approval from the EU.
- MON +0.8% premarket.