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The rise of GMO corn has cost grain companies $427M, report says

  • China’s rejection of genetically modified corn is becoming a big problem for exporters: In the first full tally of the impact, a U.S. grain industry group says the rejected shipments have totaled ~1.45M metric tons, far more than the 545K tons China has reported and the 900K tons that has circulated in news media.
  • The rejected shipments have cost grain companies $427M from lost sales and reduced prices for China-bound shipments that must be resold elsewhere, and has affected the price of corn and soybeans, resulting in hundreds of millions of dollars in losses for farmers.
  • Big seed companies such as Syngenta (SYT), Monsanto (MON) and DuPont (DD) generally are aligned with traders such as Cargill and ADM in the desire to grow and sell as much grain as possible, but now the two groups are debating who should bear the costs for the rejected shipments.
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Comments (21)
  • dwight k shrute
    , contributor
    Comments (78) | Send Message
     
    if you have ever been in China and seen the water/air (or food), the ultimate in irony is that they are rejecting food for perceived safety concerns
    11 Apr, 06:01 PM Reply Like
  • JD in NJ
    , contributor
    Comments (981) | Send Message
     
    It's also quite incredible considering what they've been perfectly happy to export to the rest of the world. From baby formula to dog food, nothing seems all that safe to consume if it comes from China.
    11 Apr, 06:08 PM Reply Like
  • anarchist
    , contributor
    Comments (1410) | Send Message
     
    Japan doesn't want GMO grains, Europe doesn't want GMO foods and now China. I guess us Americans are about the only ones that GMO foods are good for you (?), well until Monsanto releases all the research they refuse to show anyone.
    11 Apr, 06:30 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5616) | Send Message
     
    There is no scientific evidence that GMOs are bad for you. We have an "innocent until proven guilty" mindset. Europe has a "guilty until proven innocent" mindset. Thus, over there GMOs are guilty until proven innocent.

     

    GMOs haven't been around long enough to know what would happen 40 years down the road.

     

    Ironically, if Europe doesn't want U.S. grain, they have to depend on Russia for grains.
    11 Apr, 08:25 PM Reply Like
  • Jake2992
    , contributor
    Comments (831) | Send Message
     
    It's not called "innocent until proven guilty". It's called the precautionary principle. Why should I or anyone else have to pay to prove company X's product is bad for me? Why shouldn't company X have to prove their product is safe.
    12 Apr, 01:25 AM Reply Like
  • Yuan Yuwei
    , contributor
    Comment (1) | Send Message
     
    The original news was that this corn, known as MIR 162, which did not get licence in China yet, was found in soybean cargo shipped to China. (Reuters) --- can you think twice why it's found in soybean cargo?!

     

    B/c in China, the legal system is not as efficient as in US. We cannot control the illegal GMO crops farming, that would damage the biodiversity and threaten China's food security.
    In addition, In 1/2 of US-made GMO soy bean are sold to China, directly for human consumption (soy oil, tofu, protein etc.), while in US, most for feeding animals and bio fuel, only 2% soy bean for human consumption and the protein must be separated -- it's not the same case in China. It's the similar situation for corn in China.
    27 Aug, 09:31 AM Reply Like
  • Van Hyder
    , contributor
    Comments (168) | Send Message
     
    "hundreds of millions of dollars in losses to farmers", what??? What was corn yielding before RoundUp Ready? Not to mention the fact that the "farmer" isn't selling to these export markets, Cargill and ADM are. Trade off this mis-information at your own peril.
    11 Apr, 06:24 PM Reply Like
  • Van Hyder
    , contributor
    Comments (168) | Send Message
     
    One more thing, we don't have our corn supply separated into GMO and non-GMO "buckets". We sell GMO corn to the world (of course there are guys that have IP programs but they are niche players). If the chinese want to eat our grain they will have to buy GMO. If I was a grain trader today (was for many years) I'd sell them FOB the PNW and let them worry about their govt inspectors at destination. But what do I know.
    11 Apr, 06:31 PM Reply Like
  • anarchist
    , contributor
    Comments (1410) | Send Message
     
    I confess that I know nothing about the grain markets except wheat and only because I married a lady who has a wheat farm. In eastern Washington and especially Oregon we raise GMO free wheat much of which is shipped to Japan.
    At least thats what the wheat farmers here tell me.
    11 Apr, 06:41 PM Reply Like
  • RAP77
    , contributor
    Comments (367) | Send Message
     
    There is a movement among farmers away from GMO corn and other crops.

     

    GMO crops cost more, produce less, and the final products sell for less.

     

    here is an excerpt from Modern Farmer quoted in another publication:
    http://bit.ly/1ghXfQ7

     

    Not only that, pests and weeds develop resistance to Roundup and other poisons so they released Roundup PowerMax. Same story pest killers. It's like what happened with the overuse of antibiotics.

     

    In addition, glyphosate for example, a growing body of data links it (along with other endocrine disrupters) to many of the chronic diseases affecting society such as autism, certain cancers etc.

     

    Not to mention environmental problems caused by runoff, e.g. algae blooms in rivers, the huge dead zone in the Gulf. It's a bad deal all around because tax payers get stuck with the bill while the big Ag companies get govt subsidies.
    11 Apr, 06:59 PM Reply Like
  • nfavret
    , contributor
    Comments (34) | Send Message
     
    Does GMO wheat exist in the commercial world (e.g., can you buy GMO wheat in PNY)?
    14 Apr, 10:11 AM Reply Like
  • goblue5876
    , contributor
    Comments (147) | Send Message
     
    This is a Red Chinese red herring. As disgustingly polluted as that country is, and they encourage people to smoke to raise tax money, no way that is why they canceled the immense order. Maybe Crimea retaliation?
    11 Apr, 08:27 PM Reply Like
  • WAMPUS1
    , contributor
    Comments (15) | Send Message
     
    It isn't just China dammit, GMO grains are being rejected by more countries than just China. And we keep growing the damned stuff, eating it and feeding it to our live stock and our kids. And I agree with RAP77 on the Autism and Cancer possibilities. http://bit.ly/1ghXfQ7 . Now, If you read the article on the link be sure to scroll clear to the bottom and read some of the comments.

     

    I'm not a farmer but I've lived in a rural area for thirty-eight years. Twenty years ago I could quail hunt on my property and have a limit of birds in a matter of a couple of hours. Today there are no quail to be found within 200 miles of my land and I know without a doubt it's due to the crap farmers use to keep weeds and insects out of and off of their crops.
    11 Apr, 09:26 PM Reply Like
  • lbatch
    , contributor
    Comments (2) | Send Message
     
    The headline "rise of GMO corn" is misleading in this case. This issue was caused by one seed company selling seed corn to farmers with a GMO trait that had not yet been approved by the Chinese Government. This has been an irresponsible action that has damaged the entire US grain industry, but it should not be generalized as an incrimination of the broader GMO seed industry.
    12 Apr, 01:27 AM Reply Like
  • MCHEAL
    , contributor
    Comments (7) | Send Message
     
    GMO's need to go away for the most part......
    12 Apr, 01:50 AM Reply Like
  • nfavret
    , contributor
    Comments (34) | Send Message
     
    What is your rationale for this statement?
    14 Apr, 10:11 AM Reply Like
  • xomstock
    , contributor
    Comments (185) | Send Message
     
    Back when I was beekeeping china was sending honey over here from hives that had been treated with all kinds of chemicals including antibiotics that were high strength last ditch antibiotics then being used for resistant bugs. The honey was contaminated.

     

    When I raised bees I put nothing on them if they died they died. Most lived.

     

    I am not a big touchy feely type that will only eat natural organic food but putting chemicals on bees and breeding exclusively for gentleness and honey production has been one of the downfalls of the bees in general.

     

    I get corn meal from a farmer who has his own corn ground. When he gets his corn ground for himself he uses the old corn seed for about 10 acres or so. Why would this be................... When he gives me a 50 pound sack of real stone ground cornmeal It sure makes good corn bread

     

    Sometimes making things better has a cost down the road. On the other hand how much chemicals are avoided by using gmo seed.
    14 Apr, 09:28 AM Reply Like
  • Michael Bryant
    , contributor
    Comments (5616) | Send Message
     
    GMOs don't use chemicals. They are genetically engineered to be resistant. No pesticide needed.
    15 Apr, 07:59 PM Reply Like
  • JD in NJ
    , contributor
    Comments (981) | Send Message
     
    That's not the only kind of genetically modified plant, though, is it? What about Roundup-resistant crops? Those are designed to allow farmers to spray entire fields with Roundup, killing everything but what they want to grow... And anything that's managed to incorporate those changes on their own.
    15 Apr, 08:05 PM Reply Like
  • RAP77
    , contributor
    Comments (367) | Send Message
     
    Not true.

     

    Do some research. You are uninformed.

     

    The whole method of production is destructive. The biggest GMO crops are wholly created to withstand massive doses of chemicals.

     

    Those chemicals are problematic to say the least, e.g. I mentioned glyphosate above. This is a known endocrine disrupter.

     

    And there is no proof that GMO foods are good for people. A long list of chronic health problems arose and have become epidemic along with the introduction and spread of GMO food crops.

     

    The runoff into rivers and oceans is terrible.

     

    There are "peer reviewed" lab tests that show these chemicals are safe but in the real world those results don't hold up.

     

    Pests and weeds developed resistance to these chemicals so they've made them even stronger which makes the problems worse.

     

    And like I mentioned above, GMO seeds are far more expensive for farmers, they produce less and they sell for less.

     

    Taxpayers end up paying for the mess. Do some research.
    17 Apr, 12:22 AM Reply Like
  • WTJ
    , contributor
    Comments (84) | Send Message
     
    But GMO corn, if my research is correct, might as well be soaked in poison.
    It seems that the reason it doesn't need pesticides is the peculiar reaction that bugs have to it....it increases the permeability of the pest's digestive system and they die.

     

    It's suspected that it does the same thing in humans.
    Later, as a result, food stuffs enter the blood stream long before they're properly digested to a form that can be assimilated properly.

     

    The particles of undigested food in the blood stream are recognized as foreign bodies attacking the system.
    The body defends itself and remembers what the invader was.
    Now, the body has a violent reaction to that particular food
    every time it's eaten.

     

    If you think about it, before the advent of gmo corn, the number of children with allergies to peanuts, gluten, and on and on was nowhere near as common!
    50 years ago these things were unheard of.
    7 Aug, 09:56 PM Reply Like
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