On the other very big hand, when big corporations like Monsanto are promoting it backed by big financial institutions that is great cause for concern. If GMO research was led by government and/or non-profit scientists* I'd be more reassured that it was safe and effective. That it is being led by Monsanto, given the track record of those involved, I can only surmise that profit is paramount and safety and the environment are little considered.
* E.g., see this wiki article on the science of the GMO controversy.
"There is broad scientific consensus that food on the market derived from these crops poses no greater risk to human health than conventional food. The safety assessment of genetically engineered food products by regulatory bodies starts with an evaluation of whether or not the food is substantially equivalent to non-genetically engineered counterparts that are already deemed fit for human consumption. No reports of ill effects have been documented in the human population from genetically modified food."
See the references, which are from non-corporate scientists.