Because China has yet to approve Syngenta’s genetically modified MIR162 strain of corn for import, the country has rejecting over 600,000 tons of corn shipments from the U.S. Currently, Guangdong, the largest importing province of soybeans and grains in China, is also testing incoming shipments of U.S. soybeans for traces of the strain. 180,000 tons of U.S. soybeans are being held from processing until tests can be completed within the next two weeks. Previously crushers had been allowed to begin processing soybeans before test results were complete as long as they presented a signed guarantee that the shipments contained no unauthorized variants. China is the largest soybean importer in the world accounting for 60% of global trade volume.
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