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Syngenta agreed to pay $1.5 billion to settle a class action by US corn producers. The suit claimed its commercialization of GMO corn seed led China to reject US corn imports for about a year from November 2013.
The settlement still needs approval from a federal judge in Kansas City.
The settlement compensates US corn growers and handlers for lost Chinese export demand, but it does not change current corn supply or demand. Its market effect is limited to sentiment and grower finances.
agri-pulse.comSteve DaviesMar 12, 2018After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
