The Organization for Competitive Markets (OCM) says Monsanto's market power is driving up seed prices and devastating farmers and their communities.
Monsanto executives said that they expect to raise the price of some seed corn varieties to $300, up about $95 to $100 per bag, or 35 percent.
"A $100 price increase is a tremendous drain on rural America," said Fred Stokes, OCM's executive director. "Let's say a farmer in Iowa who farms 1,000 acres plants one of these expensive corn varieties next year. The gross increased cost is more than $40,000."