Monsanto invests $100M in seed production capacity

WACO, Neb. (AP) - Monsanto is investing more than $100 million to expand four of its seed processing plants in Nebraska, Iowa and Indiana.

Monsanto officials told the Lincoln Journal Star that the expansion is needed to increase the company's capacity to product corn seeds.

The St. Louis-based company announced the expansion on Wednesday.

Monsanto's Shawn Schrader says most of the money will be spent in Waco, Neb., and Remington, Ind., because those projects will have the biggest effect on production. The Iowa expansion will be in Grinnell and Williamsburg.

Another reason why Monsanto is investing in the Waco, Neb., site is that the area is 100 percent irrigated, so the company would be somewhat protected against drought.

The company hopes to have the expanded plants operational by next year's harvest.