TECHNOLOGY FOCUS - BIOTECHNOLOGY - Preferred Method: Producing an F1 hybrid soybean seed comprises crossing the plant of (1) with a different soybean plant and harvesting the resultant F1 hybrid soybean seed. Producing an herbicide resistant soybean plant comprises transforming the soybean plant of (1) with a transgene that confers resistance to an herbicide selected from imidazolinone, sulfonylurea, glyphosate, glufosinate, L-phosphinothricin, triazine, or benzonitrile. Producing an insect resistant soybean plant comprises transforming the soybean plant of (1) with a transgene that confers insect resistance. The transgene encodes a Bacillus thuringiensis endotoxin. Producing a disease resistant soybean plant comprises transforming the soybean plant of (1) with a transgene that confers disease resistance. Producing a soybean plant with modified fatty acid metabolism or modified carbohydrate metabolism comprises transforming the soybean plant of (1) with a transgene encoding a protein selected from phytase, fructosyltransferase, levansucrase, alpha -amylase, invertase, or starch branching enzyme, or encoding an antisense of stearyl-ACP desaturase. Introducing a desired trait into soybean cultivar 306734323 comprises:(A) crossing a 306734323 plant with a plant of another soybean cultivar that comprises a desired trait to produce progeny plants, where the desired trait is selected from male sterility, herbicide resistance, insect resistance, modified fatty acid metabolism, modified carbohydrate metabolism, modified seed yield, modified oil percent, modified protein percent, modified lodging resistance, modified shattering, modified iron-deficiency chlorosis and resistance to bacterial disease, fungal disease, or viral disease;(B) selecting one or more progeny plants that have the desired trait to produce selected progeny plants;(C) crossing the selected progeny plants with the 306734323 plants to produce backcross progeny plants;(D) selecting for backcross progeny plants that have the desired trait and all of the physiological and morphological characteristics of soybean cultivar 306734323 given in the specification; and(E) repeating (c) and (d) three or more times in succession to produce selected fourth or higher backcross progeny plants that comprise the desired trait and all of the physiological and morphological characteristics of soybean cultivar 306734323.Preferred Plant: In the plant above, the desired trait is herbicide resistance and the resistance is conferred to an herbicide selected from imidazolinone, sulfonylurea, glyphosate, glufosinate, L-phosphinothricin, triazine, or benzonitrile. It is also insect resistance and is conferred by a transgene encoding a B. thuringiensis endotoxin. The desired trait is also modified fatty acid metabolism or modified carbohydrate metabolism and is conferred by a nucleic acid encoding a protein selected from phytase, fructosyltransferase, levansucrase, alpha -amylase, invertase, or starch branching enzyme, or encoding an antisense of stearyl-ACP desaturase. EXAMPLE - No example given.