January 24th, 2017
St Joseph |
|
Yellow Corn |
3.33 – 3.40 |
White Corn |
3.63 |
Soybeans |
9.83 – 9.92 |
LifeLine Foods |
3.43 |
|
|
|
Atchison |
|
Yellow Corn |
3.43 – 3.45 |
Soybeans |
9.78 |
Hard Wheat |
3.46 |
Soft Wheat |
3.26 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.43 – 3.48 |
White Corn |
3.77 – 3.86 (Feb. Delivery) |
Soybeans |
10.04 – 10.07 |
Hard Wheat |
3.77 |
Soft Wheat |
3.60 |
Sorghum |
5.50 |
For more information, contact the 680 KFEQ Farm Department.
816-233-8881.
ChemChina has filed for U.S. antitrust approval with the Federal Trade Commission for its proposed $43 billion takeover of Syngenta. Bloomberg reports ChemChina has submitted documentation required by U.S. law and expects the U.S. antitrust process to be “on track.” The Justice Department and the FTC typically have 30 days to clear a proposal or issue a second request asking for more information and a longer review period. The proposed transaction already has been cleared by a U.S. national security panel and won antitrust approval in Australia. The European Union is currently reviewing the deal and has until April 12th to discuss remedy proposals that have been submitted. A Syngenta spokesperson says both companies remain fully committed to the transaction and are confident of its closing.
The list of candidates to serve as Deputy Agriculture Secretary boast familiar names to the Donald Trump administration. The Hagstrom Report says the list includes Charles Herbster, A.G. Kawamura (Cow-uh-more-uh) and Ted McKinney. Herbster of Nebraska was a big supporter during the Trump campaign and served on Trump’s agriculture advisory committee, Kawamura is a former California Agriculture Secretary and McKinney was Indiana agriculture director when Vice President Mike Pence was governor of Indiana. Meanwhile, Indiana farmer Kip Tom is considered a candidate for White House agricultural liaison. Taking over the Department of Agriculture for now is Michael Young, USDA’s Office of Budget and Program Analysis director. He will serve as acting secretary until the Senate confirms former Georgia Governor Sonny Perdue to the post. President Trump has sent policy adviser Sam Clovis to lead the transition at the department while USDA waits for the Senate to act. A team assisting Clovis will hire staff and begin crafting policy until Perdue is allowed to take office.

President Donald Trump Monday followed through on a campaign promise by signing an executive order to remove the U.S. from the Trans-Pacific Partnership trade agreement. Trump also said he plans to begin renegotiating the North American Free Trade Agreement with Canada and Mexico. Agriculture groups demonstrated disappointment with the decision. American Soybean Association President Ron Moore said in a statement: “TPP held great promise for us.” Moore says ASA expects “to see a plan in place as soon as possible” to engage the 11 other TPP member nations on trade to “capture the value” lost from the withdrawal. American Farm Bureau President Zippy Duvall says it is critical the new administration “begins work immediately” to develop new markets for agriculture. National Cattlemen’s Beef Association President Tracy Brunner said: “Sparking a trade war with Canada, Mexico, and Asia will only lead to higher prices for American-produced beef in those markets.” Brunner called foreign trade one of the greatest success stories for U.S. beef. The American Feed Industry Association condemned the action, saying trade deals like TPP are key to setting the terms and rules for future trade relationships.
Overall inflation over the last 12 months increased 2.1 percent, but food prices remain unchanged. The U.S. Bureau of Labor Statistics’ Consumer Price Index for All Urban Consumers was up .3 percent in December, with gasoline prices up three percent. But the food-at-home index fell 0.2 percent, its eighth consecutive decrease that reflects an overall 0.2 percent decrease over the last 12 months. Four of the six major grocery store food group indexes fell in December. The fruits and vegetables index posted the largest decline, falling 1.1 percent as the index for fresh fruits declined 2.2 percent. The index for meats, poultry, fish and eggs fell 0.4 percent in December as the beef index fell 0.8 percent and the index for eggs decreased 3.9 percent. The index for nonalcoholic beverages fell 0.3 percent, and the cereals and bakery products index declined 0.1 percent. The index for dairy and related products increased 0.4 percent in December after falling in November, and the index for other food at home rose 0.3 percent.
Exporters in Canada are scrambling to avoid a potential 10 percent import tax promised by new U.S. President Donald Trump. In evaluating options, some are even considering moving production or supply lines south of the Canada border into the United States. Amid warnings from the Bank of Canada last week protectionist policies brought in by Trump could drive companies to invest in the U.S. rather than Canada, executives told Reuters their search for options has already begun. National Bank Financial estimated a 10 percent border tax could cause Canada’s total exports to the U.S. to drop by about nine percent, with non-petroleum goods sinking almost 11 percent. Exports are expected to drive about a third of Canada’s economic growth in 2017, behind only consumption and government spending.
With an Agriculture Secretary nominee and a new administration in place, President Donald Trump has sent policy adviser Sam Clovis to lead the transition at the Department of Agriculture. A team assisting Clovis will hire staff and begin crafting policy while Agriculture Secretary Nominee Sonny Perdue awaits Senate confirmation, according to Politico. USDA is home to 250 political post from deputy to undersecretaries to chiefs of staff and state Farm Service Agency administrators. Many of the positions do not need confirmation by the U.S. Senate. Brian Klippenstein, who led the USDA landing team, is expected to have a role in the transition as well. In all, President Trump will deploy a team of more than 500 temporary appointees to handle transition duties at multiple agencies to fill roughly 5,000 political positions across the Trump administration.
Business interests, along with agriculture groups, want the new administration to reconsider the Trans-Pacific Partnership, a trade deal incoming President Donald Trump vowed to drop on “day one” once in office. The Wall Street Journal reports the groups are arguing that the Trump administration does not have to accept the current agreement negotiated by the Obama administration. Rather Trump could look to make changes to the deal, rename it and turn TPP into a Trump initiative to boost U.S. exports to Asia and write new trade rules for the Asia Pacific region. Among those urging the Trump team to take another look at an Asia-Pacific deal are the U.S. Chamber of Commerce, the Business Roundtable, the American Farm Bureau and a number of companies. The Trans-Pacific Partnership would mean billions of dollars in agriculture sales thanks to improved exports, but chances are still slim of seeing the agreement move forward in the near future.