The U.S. Justice Department has approved Bayer’s acquisition of Monsanto company for $62.5 billion. This was the last hurdle for the deal and even after divesting some of its assets the new company will control 25-percent of the global seed and ag chemical business. Minnesota Farmers Union President Gary Wertish wasn’t surprised by the DOJ decision but is disappointed. He says farmers will be the losers in the long run with the megamerger approval.

Bayer and Monsanto officials have pledged to sell off some of their assets to meet antitrust concerns. Wertish says that won’t buffer the negative effects stemming from the consolidation in the industry.

He says the price advantage goes to the companies when agribusiness gets so concentrated and there are fewer companies serving farmers.

Wertish says there’s a big difference between the price of seed corn and what the farmers can sell their corn for.