Japanese authorities have canceled a tender offer to buy wheat from the U.S., after unapproved genetically modified wheat was found in an Oregon field, Reuters reported on Thursday. Other major wheat importers South Korea, China and the Philippines also said they were monitoring the situation, after the find stirred concerns that the modified wheat could have made it to the marketplace, the report said. On Wednesday, the U.S. Department of Agriculture said it had conducted a genetic test on the wheat and found that it was an experimental type produced by Monsanto Co. MON +0.12% that hadn’t been approved for sale. Shares of Monsanto were slightly lower in premarket trade.
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NEXT BANKING CRISIS IMMINENT?
Fri May 31 , 2013
The entire Western World banking system just missed the need for a bail-in by a hairs length. The next crisis in finance in North America will be a product of the FASB, the Guardians of Auditing, allowing banks to value OTC derivative paper at whatever the bank wishes. This is […]
