Drought Impact on Livestock and Food Prices
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The livestock industry is taking a direct hit by this summer's drought, and that will impact consumers' wallets next year, states a University of Missouri agricultural economist.
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David Morgan is president of Syngenta Seeds. His company produces biotech traits for insect resistance that are well accepted by growers in the United States but not yet accepted by China. One trait in particular (Agrisure Viptera-MIR162) is causing marketing challenges for Syngenta and grain merchandisers as it is now found in ten percent of U.S. corn and is being utilized in other major corn exporting countries. Morgan talks about the "asynchronous" process of biotech approval by China and why that is hurting grain and oilseed producers in major exporting countries. He outlines Syngenta's new relationship with Gavilon Grain and the proposed release of a new insect resistance trait this year.