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Monsanto gets approval to import soybeans in China

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By AP
04 September 2008 @ 07:27 pm EST

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WASHINGTON - Monsanto Co. said it has received regulatory approval to import its Roundup Ready 2 Yield soybeans into China, the largest purchaser of U.S. soybeans.

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73.21

-0.2

Chinese imports accounted for roughly 38 percent of U.S. soybean exports in 2007, the company said.

St. Louis-based Monsanto makes seeds and other agricultural products.

The company's shares fell $4.20, or 3.9 percent, to $103.77 Thursday.

(This version CORRECTS hed to 'import' sted 'sell' soybeans.)

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