Not the way things are going - seed supply is becoming concentrated into fewer and fewer companies:
http://www.gmeducation.org/latest-news/p207220-the monsanto monopoly.html
To an extent, yes:
http://peakoil.com/enviroment/u-s-farmers-may-stop-planting-gmos-after-horrific-crop-yields
"Some farmers across the United States may stop planting genetically modified crops after poor yields are increasing costs beyond what they can absorb.
According to Farmers Weekly, those farmers are considering returning to conventional seed after increased pest resistance and crop failures have meant smaller GM crop yields over non-GM counterparts.
Farmers in the U.S. pay about $100 more per acre for GM seed. "
That's fine while there are still a lot of companies selling seeds. If people buy into the idea that the gmo science is settled, and Monsanto and friends get a monopoly farmers will have nowhere else to go.