China, one of the world’s largest corn importers, has rejected a cargo of the grain from the US as it contained a genetically modified variety that has not been approved by Beijing, traders said.The discovery of Syngenta’s Agrisure Viptera corn in the shipment dragged on global prices and unnerved some Chinese buyers as it raised the spectre of other rejections.But most traders said these were unlikely and that the move would not have much long-term impact on flows of grain to China from the US. They said the strain, also known as MIR 162, is set to be approved by China soon and is already shipped to destinations such as top corn importer Japan, EU and Mexico.

Source : http://www.financialexpress.com/news/china-rejects-us-corn-cargo-due-to-unapproved-gmo-variety-of-grain/1196933Gold swings on US Federal Reserve stimulus taper uncertainty

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