Monsanto (Bayer) has always been a truly evil company. Its not worth the bandwidth to find links to everything that damn company has done over the decades but its a long damn list. This move is right in line with the kinds of things that they would do.
The thing about this is that China would be happy to trade their cheap gly for our cheap soy and corn which would reduce prices and increase productivity for both sides of that trade.
Now Bayer cant have that because they are just being flat out crony capitalists who want to corner the market.