China reportedly rejects more U.S. corn due to GMO

China reportedly has turned away more U.S. corn cargoes due to the discovery of an unapproved genetically-modified strain, and traders say further rejections are likely.

A report yesterday said China had rejected 601K metric tons of corn and corn by-products from the U.S. by year-end 2013 and suggested that more corn cargoes had been turned away since Dec. 20, when 545K metric tons had been refused.

Chicago corn futures (CORN), which have been under pressure from rising global supplies and China's cancellation of U.S. cargoes, climbed another 0.5% Monday; the GMO corn is developed by Syngenta (SYT).

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Comments (3)
  • funfundvierzig
    , contributor
    Comments (5049) | Send Message
    In the meantime Chinese spies with possible complicity of erstwhile members of DuPont Management in Iowa according to FBI affidavits filed in federal court have "allegedly" stolen $40 million of seeds and intellectual property out of the fields of DuPont Pioneer. So these sinister operatives serving the interests of the Peoples Republic of China are desperate to grab the biotechnology of GM and hybrid seeds, but Chinese politicians choose to bar it from their borders when it originates with a European enterprise, Syngenta, a major global seed producer.


    7 Jan 2014, 11:55 AM Reply Like
  • Windsun33
    , contributor
    Comments (4440) | Send Message
    China is rejecting GMO corn while at the same time having spies steal the tech for GMO corn. Hmmm..
    7 Jan 2014, 01:03 PM Reply Like
  • Humble Value Miner
    , contributor
    Comments (491) | Send Message
    it's not complicated: they want to be prepared to sell us that crap but they don't want to eat it.
    7 Jan 2014, 04:50 PM Reply Like
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