Fraley said while the company continues to make advances, it is still "several years away" from a biotech wheat product launch.
Biotech wheat is not commercially available despite several companies having researched it for a number of years.
Monsanto shelved an earlier version of an experimental herbicide-tolerant wheat, called "Roundup Ready," in 2004 amid widespread market concern foreign buyers would boycott U.S. wheat if it were genetically altered like corn and soybeans.
Controversy erupted again in May when the U.S. Department of Agriculture said an Oregon farmer had found the Roundup Ready genetically engineered wheat growing in his field, despite the fact the experimental grain should have been destroyed or stored away.
South Korea and Japan immediately temporarily halted purchases of U.S. wheat after the announcement, due to fears the unapproved biotech wheat might have contaminated U.S. wheat supplies.
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