The Trans-Pacific Partnership will tear down trade barriers and help level the playing field for U.S. agricultural exports to 11 nations across the Pacific Rim, according to the American Farm Bureau Federation. Farm Bureau released an economic analysis Tuesday estimating the trade pact will boost annual net farm income in the United States by $4.4 billion. The report forecasts farm-price increases for corn of five cents per bushel, a 12 cent per bushel increase for soybeans, a two-cent per bushel increase for wheat and a 16 cent per hundredweight increase for rice. Cotton prices are not expected to change. However, cash receipts are projected to rise by $21 million. AFBF also predicts price increases for beef at $2.66 per hundredweight, a $2.45 increase for pork and a $1.45 increase for poultry. Dairy products would also increase; including milk rising 21 cents per hundredweight. The agreement has been approved by negotiators from the 12 TPP nations. The U.S. International Trade Commission is preparing a formal analysis for the administration, which will formally ask Congress to ratify the deal.

Agriculture Technology investments surged to a record in 2015 despite a slumping farm economy. A study released last week shows Investments in agriculture technology startups reached $4.6 billion last year, nearly double the $2.36 billion in 2014. Investments in 2015 were also noticeably less American, as just 58 percent of deals were in U.S.-based companies, versus 90 percent in 2014, according to AgFunder. The group says Drones and robotics investments grew by 237 percent from 2014 as more growers are expected to use crop-scouting drones and various autonomous farm machines for data analysis and precision farming.

A Los Angeles-based advisory group expects more ethanol industry consolidation this year. In a Biofuels International article, Ocean Park Advisors says with dampened expectations for future margins, they expect “any remaining non-strategic players to explore exits.” The report notes that 94 standalone ethanol plants in the United States account for 5.3 billion gallons or 35 percent of domestic production. Further, they predict boards of standalone plants will continue to weigh the benefits and risks of remaining independent in an industry that continues to consolidate. The finance advisory says it tracked ten transactions last year worth an estimated $750 million to $850 million that involved 13 plants with more than 800 million gallons-per-year production capacity.

The Senate Agriculture Committee will markup Chairman Pat Roberts GMO labeling bill Thursday. Roberts released a draft of the bill last week that drew applause from many agriculture groups. However, as Politico reports, it’s unclear if Democrats will be able to ignore pressure from pro-labeling groups unhappy with the measure. The Kansas Senator’s bill serves as an abbreviated seven-page draft compared to the 37-page measure by a Kansas Representative, which passed the House last July by a 275-150 vote. The Senate bill would require USDA to set a voluntary national food labeling standard for genetically engineered foods, preempt state labeling laws on both GMO foods and seed, and require USDA to provide consumers with information on the benefits of biotechnology, according to the draft. Roberts did say he is open to amendments to the bill which he hopes will stop the labeling law in Vermont from going into effect in July of this year.

Agriculture Secretary Tom Vilsack says the conflict between agriculture and petroleum interests over the Renewable Fuels Standard shows no signs of slowing. Vilsack told Bloomberg last week “you’re going to have constant litigation.” Oil and biofuel industry advocates alike have filed numerous lawsuits over the RFS volume targets issued by the Environmental Protection Agency last November. Valero Energy, the third largest ethanol producer and the largest U.S. petroleum refiner, is the latest to file suit against the EPA. In November, EPA announced refiners must use 14.5 billion gallons of corn-based ethanol this year, below the 15 billion gallon mark as set within the RFS. The oil industry says that is above levels considered safe to use in engines while biofuel proponents say that is below the target required by law. The EPA maintains it has the authority to set the volume targets based off the current market situation.

While the Creighton University Rural Mainstreet Index rose for February, it remains weak, according to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture. Overall, the Index, which ranges between 0 and 100, increased to 37.0 from January’s 34.8. This is the sixth straight month the overall index has moved below growth neutral. Organizer Ernie Goss says recent declines are “the result of lower agriculture and energy commodity prices and downturns in manufacturing.” The farmland and ranchland price index for February climbed to 29.8 from January’s 23.9. This is the 27th straight month the index has moved below growth neutral. Bank CEOs reported average annual cash rent for farmland, excluding pastureland, of $221. This is down by approximately 15 percent from July 2015. The February farm equipment-sales index climbed to 11.3 from January’s record low 7.0. Finally, the confidence index, which reflects expectations for the economy six months out, moved slightly higher to 30.4 from 29.4 in January, indicating a very pessimistic outlook among bankers.