Monsanto Shifts Focus from Corn to Soybeans
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The Post-Dispatch had an article worth reading on Sunday describing a shift in the R&D focus of Creve Coeur ag-giant Monsanto. There has been a lot written recently about how, a few years back, the company decided to largely abandon its efforts in engineering crops you might find in a supermarket - wheat and produce. Instead, since about the turn of the century, Monsanto has focused mainly on agriculture for processed food and biofuels, especially corn. Not only are these crops are extremely prevalent in our consumption habits, but the shift away from fruits and vegetables has helped to reduce public outcry over "Franken-food".
Now it seems as though Monsanto may be shifting its research focus again. These days, the company's R&D pipeline is increasingly filled with soybean technologies - 12 projects, according to the Post-Dispatch, versus 9 for corn. The reasoning says a lot about CEO Hugh Grant's view of the future. The current emphasis on biofuels? Important, but not long lasting, according to Grant. Advances in cellulosic ethanol production, from weeds and plant husks, will eliminate the growing need to process corn. This, plus an exploding export market in China, means engineered soybeans are poised to become a major cash crop worldwide.
