China imports 60,000 tonnes of genetically modified Argentine corn

China has approved its first shipment of genetically modified Argentine corn, according to state officials in Buenos Aires.

Argentine agriculture minister Norberto Yauhar said Chinese health authorities cleared 60,000 tonnes of genetically modified Argentine corn. The cargo was already headed inland to be used as hog and chicken feed.

Benchmark Chicago corn futures fell briefly after Reuters reported on the shipment. Argentina competes for market share with the US, the number one world corn exporter.