As early as 2003 the Philippines approved the propagation of the genetically modified Bt corn, where the Bacillus thuringiensis gene is inserted to produce a protein that's supposed to protect it from the Asiatic corn borers. The government's official go-signal for the commercial propagation was not without fierce opposition from various sectors including local churches.
Rising surpluses are leveling out and keeping corn from falling much further. With help from the USDA and rainy harvest time weather, mid October saw corn break its long, brutal decline. It rose to near US$3.60/bushel, some 13% above its early October lows. Nevertheless, medium term fundamentals still point to flat, sagging prices.