China bought its first U.S. corn in more than two months last week, the U.S. Department of Agriculture said Thursday, despite an unresolved dispute over a biotech variety that has not been approved for import by the country. China has officially rejected 887,000 tons of U.S. corn since November because shipments contained Syngenta AG’s MIR 162 variety.
The purchase, which followed seven consecutive weeks of cancellations by the world’s third-largest corn importer, puzzled traders as the risk for rejection was high and China’s corn stocks were ample.
Read the full, original story: China buys first U.S. corn in two months despite unresolved GMO spat