- Syngenta (NYSE:SYT) is suing several grain trading firms including Cargill and Archer Daniels Midland (NYSE:ADM) over losses some U.S. farmers say they sustained after China rejected shipments of genetically modified corn, WSJ reports.
- The lawsuit, filed in U.S. District Court in Kansas, stems from a legal dispute that arose last year when grain companies and farmers sued SYT, arguing the company should compensate them for lost sales and depressed corn prices they say arose from the rejected shipments.
- SYT is contesting those allegations, and argues in the new lawsuit that big grain merchants should be on the hook for the losses.