China Ag Trade Improving with Biotech Approvals

Trade talks progressed and U.S. agriculture trade with China continues to improve following China’s purchase this week of U.S. soybeans, and the announcement of biotech approvals for export. China approved five genetically modified crops for import earlier this week. The approved products included a DowDuPont corn variety, along with Enlist soybeans, and a soybean variety developed by Bayer CropScience and Syngenta, but now held by BASF. The other approvals include GM canola traits from BASF and Monsanto, now Bayer CropScience, according to Reuters. The companies applauded the approvals, but some noted that many other products remain stuck in China’s approval system. The trade talks between the U.S. and China were extended for a third day this week, another sign that talks are progressing positively, and reports are swirling that the U.S. and China will meet in the U.S. in mid-February to continue the negotiations.