Monsanto watch: March 17

Not Ready for Wheat: Monsanto has decided to shelve plans for genetically modified wheat despite the company's multimillion-dollar invesment in the project. According to reports, the gene giant made the decision in response to industry pressure and consumer concerns over the introduction of GM tech in a "key food crop." Instead, the company plans to focus its energies on a new hybrid soybean that requires less hydrogenization for oil production, and is billed as "more healthy" for consumers.

U.K. still resists: In an interview with the BBC, Monsanto CEO Hugh Grant says that farmers in the U.K. are eager to grow GM crops, and that consumer concerns in that country are overblown. GM crops are allowed in the U.K., but under very strict guidelines. According to a government survey, more than 90 percent of citizens in the U.K. are against GM crops.