Monsanto Falls 5% On New Reports Of Falling Corn In Illinois Fields

Monsanto MON engineered, insect-killing corn, is falling over in fields in northwestern Illinois according to a Bloomberg report. This is possibly a sign that rootworms may have developed resistance to genetically modified crops outside of Iowa, where resistance has been confirmed. Michael Gray, an agricultural entomologist at the University of Illinois in Urbana told Bloomberg, “Whatever is the cause, it is generating a lot of concern. I wouldn't say at this point it's just an isolated field here or there.” The corn rootworms were collected from two fields where the corn crop had literally fell over after roots were eaten by the insects. The Monsanto engineered corn contains a protein derived from Bacillus thuringiensis, or Bt, which is a natural insecticide. Unfortunately, it may not be working anymore in some areas. “It's very, very significant damage,” Gray said. “Producers buy these Bt hybrids to protect their root systems, so it understandably makes them not very happy.” Monsanto shares have been falling throughout Friday's trading session and were trading down 5% at $65.54 at last check.