USDA Investigates Unapproved GMO Wheat in Washington State
The U.S. Department of Agriculture has confirmed the discovery of unapproved, genetically modified (GMO) wheat plants growing in an unplanted agricultural field in Washington state.
There was no evidence the wheat had entered the food supply, the USDA's Animal and Plant Health Inspection Service said in a statement on Friday. The wheat is resistant to glyphosate, a widely used herbicide commonly referred to as Roundup.
There are currently no commercially approved genetically modified wheat varieties, and incidences of rogue plants are rare. However, unapproved plants were found in 2018 in Alberta, Canada, in 2016 in Washington state, in 2014 in Montana and in 2013 in Oregon.
A Bayer Crop Science spokeswoman said the latest discovery may have occurred on the site of a former field trial.
What It Means for the U.S. Farmer: At FBN we believe that this story is interesting and needs to be monitored. At the moment, the unauthorized GMO wheat has not entered the food supply and does not appear to pose any threats.
Chinese May Soybean Imports Decline 24% YoY
China brought in 7.36 MMT of soybeans in May, down from 9.69 MMT last year, according to data from the General Administration of Customs. The May figure was also down from 7.64 MMT in April, when shipments had jumped as buyers delayed cargoes on a tax change.
China imported 31.75 MMT in the first five months of 2019, down 12.2%YoY.
Soybean shipments in the coming months were expected to jump significantly from May, even while African swine fever outbreaks continue to cut demand.
China plans to stockpile up to 7 MMT of U.S. cargoes booked during the earlier trade truce in preparation for a protracted trade war.
China has been aggressively importing soybeans from Argentina and Brazil.
What It Means for the U.S. Farmer: At FBN we believe that Chinese soybean demand from the U.S. should continue to decline. African swine fever (ASF) and poor crush margins resulting from a 25% tariff make soybeans from Brazil and other countries a better purchase. We believe that China’s decision to import the remainder of the 7 MMT that the country purchased in late December and early January is a positive but the U.S. soybean complex is still facing a record large ending stocks number.
The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)
