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After a few hectic days of controversy over the alleged presence of genetically modified organisms in wheat grown in a field at Oregon, the agricultural chemicals provider, Monsanto Company (MON - Analyst Report), can finally look forward to some good news coming its way.

Monsanto’s proprietary, Intacta RR2 Pro, has finally received the pending regulatory approvals for production in Brazil. The company intends to offer the technology for sale to be used in the next crop planting season. With the help of Intacta RR2 Pro, farmers will be able to improve their soybean production in three ways — increasing yield, reducing pest attacks on the crop and increasing tolerance to glyphosate herbicide.

Moreover, Monsanto announced positive outcomes in its latest year of Ground Breakers, in the on-farm trials in Brazil. The results represented a higher yield of soybeans. Monsanto expects to test the invention on the farms of Argentina in fiscal 2014, with an expected commercial launch in fiscal 2015.

In addition to this, Monsanto achieved yet another break-through in China with the approval of the biotechnology trait in Genuity DroughtGard Hybrids. In 2013, the farms in the Western Great Plains were allowed to use the trait under stewardship agreements, which allowed the trait to be used only on-farm or for sale in the domestic market only. With the approval from China, farmers will be in a better position to produce more with the increased yield, for the international markets as well.

The Genuity DroughtGard Hybrids is designed in a way to make the corn plants use less water, leaving moisture in the soil, which can be utilized in low water levels. This technology can prove to be a major success in the ever changing climatic conditions.

We expect these developments to bring about great success to the company as well as the U.S. grain production and exports.

Monsanto currently carries a Zacks Rank #3 (Hold). Other stocks worth a look in the agricultural chemicals industry are American Vanguard Corp. (AVD - Snapshot Report) carrying a Zacks Rank #1 (Strong Buy), and Cosan Ltd. (CZZ - Analyst Report) and Limoneira Company (LMNR - Snapshot Report), each carrying a Zacks Rank #2 (Buy).

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