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Wednesday’s closing grain bids

May 31st, 2017

 

St Joseph

 

Yellow Corn

3.49 – 3.51

White Corn

no bid

Soybeans

8.81 – 8.84

LifeLine Foods

3.52

 

 

Atchison

Yellow Corn

3.47 – 3.52

Soybeans

8.76

Hard Wheat

3.61

Soft Wheat

 3.69

 

 

Kansas City Truck Bids

 

Yellow Corn

3.62

White Corn

3.57 – 3.65

Soybeans

8.96

Hard Wheat

3.97

Soft Wheat

4.01

Sorghum

6.29

For more information, contact the 680 KFEQ Farm Department.
816-233-8881.

FDA Considering Nutrition Facts Panel Delay

The Food and Drug Administration is considering a delaying implementation of a revamped nutrition facts panel on retail goods. Meat industry publication Meatingplace reports the move would follow a request by industry groups that have asked the FDA to delay the new food labels by three years. The updated labels are scheduled to start being used by July of next year. However, industry groups say they need more time to line the nutrition panel up with GMO labeling rules by USDA that are due out next July. In testimony before House Appropriations Committee’s subcommittee on agriculture, FDA commissioner Scott Gottlieb said: “We’re going to be taking a hard look at the implementation schedule.” Under the Obama administration, FDA announced the changes to reflect updated science, and to provide an update on serving sizes.

TPP member nations moving on

The 11 remaining member nations of the Trans-Pacific Partnership trade agreement are moving on with finalizing the agreement without the United States. Four months after the United States announced it would withdraw from the trade agreement, the remaining 11 TPP countries agreed to “launch a process to assess options to bring the comprehensive, high-quality agreement into force expeditiously, including how to facilitate membership for the original signatories.” The countries agreed on a November 10th deadline at the recent Asia-Pacific Economic Cooperation leaders’ summit in Vietnam. U.S. Trade Representative Robert Lighthizer says the move will not draw the U.S. back to the trade agreement, stressing the need for bilateral negotiations. TPP would be worth an estimated $4 billion to U.S. agriculture, if the U.S. were included in the agreement.

USDA political appointment nominee’s expected soon

Nominee’s for The Department of Agriculture’s political post within the agency are expected within a month or so. Sources close to the Secretary have allegedly told Politico that Perdue has made his picks for key positions within USDA, and those picks could be announced in June. There are nearly a dozen political positions that require confirmation by the U.S. Senate, to go along with near 200-some political appointees within the federal government. No official announcements have been made yet by USDA or Perdue, but several have speculated that Steve Censky, CEO of the American Soybean Association, will be nominated as USDA undersecretary. Other names floated for USDA posts include Iowa Agriculture Secretary Bill Northey, Indiana Agriculture Department Director Ted McKinney, and Sam Clovis, who has served on the USDA transition team.

Canada: NAFTA talks to start in August

Canada’s Foreign Affairs Minister told the nation’s lawmakers this week negotiations over the North American Free Trade Agreement would start in August, the earliest possible by U.S. law. Chrystia Freeland briefed Canadian lawmakers Monday on the negotiation process. She says a time crunch is looming, with the U.S. and Mexico in the biggest hurry to start talks. The Canadian Press reports pre-negotiation consultations will take several months. Then, once talks begin between Canada, Mexico and the U.S., there are only a few months left before political obstacles start popping up, causing potential delays. Those obstacles include the 2018 presidential elections in Mexico and the U.S. midterm election cycle. Currently, the three countries are consulting with domestic partners as they prepare for negotiating positions. Negotiations can begin any time after August 16th, after a 90-day consolation period required by U.S. law.

Tuesday’s closing grain bids

May 30th, 2017

 

St Joseph

 

Yellow Corn

3.45 – 3.47

White Corn

no bid

Soybeans

8.78 – 8.82

LifeLine Foods

3.47

 

 

Atchison

Yellow Corn

3.42 – 3.47

Soybeans

8.86

Hard Wheat

3.72

Soft Wheat

 3.69

 

 

Kansas City Truck Bids

 

Yellow Corn

3.57

White Corn

3.54 – 3.62

Soybeans

8.93

Hard Wheat

3.98

Soft Wheat

4.02

Sorghum

6.20

For more information, contact the 680 KFEQ Farm Department.
816-233-8881.

China issues “wish list” for U.S. trade

China has issued a list of concessions that it says can help deliver a “win-win” trade relationship with America. The list is part of a 117-page document released Thursday by the Ministry of Commerce. China would like to improve infrastructure cooperation with the U.S. and accept greater imports of goods ranging from soybeans to aircraft. The report acknowledges the Trump Administration’s grievances with China and with globalization, urging “balanced development” of trade ties in future talks. A 100-day review of the bilateral trade relationship is due to finish up in July. A deal earlier this month allows more U.S. access into the Chinese market for beef, natural gas, and financial services. China would like to increase imports of agricultural products like soybeans and cotton. It would also like to speed up negotiations with the U.S. on traceability, inspection, and quarantine procedures on U.S. beef to be sold in the Chinese market. Bloomberg said the 117-page paper could be seen as China indicating a more stable negotiating environment between the two countries. In return, on the “ask” list, the report argues that the U.S. should stop using the so-called alternative state approach when calculating dumping margins in WTO trade disputes. That would be a big step that could push China toward being considered a market economy by its major trading partners.

Senate passes bill to address potential agro-terrorism

The U.S. Senate passed legislation designed to address the potential threat of agro-terrorism and keep the American food supply safe. Ag Committee Chair Pat Roberts co-sponsored the legislation in the Senate and says an attack on the nation’s food supply would cause irreparable damage. “This legislation reaffirms the important role for the Department of Homeland Security in preventing agro-terrorism,” Roberts said. “Agriculture is the backbone of our economy, and the spread of any deadly pathogen among our livestock and plant populations would be deadly,” House Republican Dan Donovan introduced similar legislation in the House, saying “This bill is essential to enhancing our preparedness against possible agro-terrorism and our emergency response measures. The Securing our Agriculture and Food Act requires the Secretary of Homeland Security, through the Assistant Secretary for Health Affairs, to lead the government’s efforts to secure our nation’s food, agriculture, and veterinary systems against terrorism and high-risk events. The bill also authorizes the Secretary to collaborate with other agencies to ensure food, agriculture, and animal and human health sectors receive attention and are integrated into the DHS’s domestic preparedness policy initiatives. After House consideration, the bill would head to the president’s desk for his signature.

Roberts/Stabenow: No More Cuts to Agriculture

Senate Agriculture Chair Debbie Stabenow and Ranking Member Pat Roberts at a field hearing for the 2012 Farm Bill
The Senate Ag Committee heard testimony last week from several economists on the challenges that currently exist in farm country. The Hagstrom Report says Republican Ag Chair Pat Roberts of Kansas and Ranking Democrat Debbie Stabenow of Michigan both came to the same conclusion: no more cuts for farm bill programs. At what he described as the first farm bill hearing in Washington, Roberts did say the nation’s debt is approaching $20 trillion. However, he said between the savings from the last farm bill and the Ag Department’s crop insurance negotiation, “everyone on this committee thinks agriculture has already given at the store.” Roberts emphasized the importance of producers having risk management tools at their disposal. “Let me emphasize that crop insurance is the most valuable tool in the risk management toolbox,” he said. Stabenow focused more on the proposed Trump budget released earlier this week, saying, “It cuts crop insurance by $29 billion which would take away a critical part of the farm safety net when it’s needed most.” A panel of economists and Ag business members testified that economic conditions for farmers and ranchers continue to get worse, but it’s still not as bad as the farm crisis of the 1980s.

Friday’s closing grain bids

May 26th, 2017

 

St Joseph

 

Yellow Corn

3.52 – 3.54

White Corn

no bid

Soybeans

8.91 – 8.96

LifeLine Foods

3.54

 

 

Atchison

Yellow Corn

3.49 – 3.54

Soybeans

8.86

Hard Wheat

3.62

Soft Wheat

 3.78

 

 

Kansas City Truck Bids

 

Yellow Corn

3.64

White Corn

3.57 – 3.63

Soybeans

9.07

Hard Wheat

4.03

Soft Wheat

4.10

Sorghum

6.33

For more information, contact the 680 KFEQ Farm Department.
816-233-8881.

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