After a Brazilian Congress decision to permanently allow genetically modified soybeans, Brazil's government research agency Embrapa expects to start producing up to 11 new varieties of GMO soybeans for the next harvest, according to a Dow Jones report. Seed production probably will not reach levels sufficient to meet demand for a couple of years.

Brazil is the world's second-largest soybean producer, producing approximately 57 million metric tons of soybeans this season, according to the latest government estimate.

The Senate last week voted to allow the planting and sale of GMO soybeans and their seeds, effectively ending an 11-year debate on whether the technology should be legalized in Brazil. President Luiz Inacio Lula da Silva is expected
to sign the bill soon.