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HPAI confirmed at second Tennessee farm

chicken poultry birdsThe Department of Agriculture has confirmed high pathogenic avian influenza at a second commercial flock in Lincoln County, Tennessee. Agri-Pulse reports the flock is less than two miles from the site HPAI was detected earlier this month. It is the same strain found 13 days ago at the first location in the county. The flock of 55,000 chickens will be depopulated, and surveillance and testing for the disease will be conducted in the immediate area. Tennessee State Veterinarian Charles Hatcher said that wild birds can carry the strain from different sites, and that “this is not unexpected.” He says the state will continue to work quickly to prevent the virus from spreading further. Two cases of low pathogenic avian influenza were also found in the area, along with cases in northern Alabama that were confirmed by USDA Thursday.

Thursday’s closing grain bids

March 16th, 2017

St Joseph

 

Yellow Corn

3.31 – 3.36

White Corn

no bid

Soybeans

9.34 – 9.37

LifeLine Foods

3.36

 

 

Atchison

Yellow Corn

3.36 – 3.39

Soybeans

9.27

Hard Wheat

3.65

Soft Wheat

 3.71

 

 

Kansas City Truck Bids

 

Yellow Corn

3.39 – 3.44

White Corn

3.56 – 3.59

Soybeans

9.46 – 9.50

Hard Wheat

4.05

Soft Wheat

4.06

Sorghum

5.46

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

 

Ethanol group applauds recall of fuel economy rules

Ethanol fuelThe Renewable Fuels Association welcomed a move by the Trump administration regarding fuel economy regulations. The White House this week recalled the Environmental Protection Agency’s federal fuel economy and emissions rules that stem from the Obama administration. The recall allows for a data-driven review of the 2022-2025 standards. RFA President and CEO Bob Dinneen says the actions “allow the opportunity for EPA to slow down, remove politics from the process, and take a more comprehensive approach to fuel economy standards.” The Obama-era rules were aimed at cutting carbon dioxide emissions, and was an action against climate change by the former President. Put forth in 2012, the rules would have required automakers to nearly double the average fuel economy of new cars and trucks to 54.5 miles per gallon by 2025, forcing automakers to speed development of highly fuel-efficient vehicles, including hybrid and electric cars.

Group urges Trump to protect crop insurance

Farm BillA coalition of agriculture groups is urging President Donald Trump and federal lawmakers to protect crop insurance. 60 national farm, lending, ag input, conservation and crop insurance organizations, led by the Crop Insurance and Reinsurance Bureau, sent a letter to the administration and lawmakers opposing cuts to crop insurance during the upcoming budget and appropriations processes and in the 2018 farm bill. The letter called the 2014 farm bill a “careful balance of priorities” that “should not be reopened.” The groups say any cuts in the next farm bill should be avoided as well, because of the downtrend in the agriculture economy and its impact on farmers. The letter was sent to President Donald Trump, House and Senate lawmakers, and Agriculture Secretary nominee Sonny Perdue.

Federal reserve makes expected interest rate increase

2000px-US-FederalReserveSystem-Seal.svgThe U.S. Federal Reserve has again elected to move forward with interest rate increases following a meeting Wednesday. Widely expected, the decision raises the Fed’s benchmark rate to a range between 0.75 percent and one percent. The Fed attributed the change to a continued “moderate pace” of the U.S. economy. For agriculture, a Department of Agriculture economist has previously said interest rate increases mean more of the same for the farm economy, which is slumping amid low commodity prices. The increase will likely impact loans for big-ticket items, such as farm equipment or land purchases, as well as the prime rate, which is the base borrowing rate banks extend to their customers. The rate hike will increase the upward pressure on interest rates that consumers pay overall, but the immediate effect is likely to be modest, according to the New York Times.

Wednesday’s closing grain bids

March 15th, 2017

St Joseph

 

Yellow Corn

3.28 – 3.33

White Corn

no bid

Soybeans

9.31 – 9.34

LifeLine Foods

3.36

 

 

Atchison

Yellow Corn

3.34 – 3.37

Soybeans

9.23

Hard Wheat

3.62

Soft Wheat

 3.71

 

 

Kansas City Truck Bids

 

Yellow Corn

3.37 – 3.42

White Corn

3.54 – 3.57

Soybeans

9.43 – 9.46

Hard Wheat

4.02

Soft Wheat

4.06

Sorghum

5.42

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

Study shows crop insurance firms’ returns have decreased

soybeans2A new study has found private crop insurance company returns have declined significantly since the 2010 renegotiation of the Standard Reinsurance Agreement. The agreement is between the insurance companies and the federal government. The findings in the study commissioned by the National Corn Growers Association are in line with benchmarks established by the U.S. Department of Agriculture’s Risk Management Agency. According to the findings, from 1998 to 2010, crop insurance companies had an average net return on retained premium of 14.1 percent. From 2011 to 2015, returns averaged 1.5 percent, a decrease of 12.6 percentage points. The Standard Reinsurance Agreement establishes the levels of compensation for the companies. The 2010 renegotiations substantially cut reimbursements and limited the share of underwriting gains that crop insurance companies could receive. As a result, net returns to retained premiums are expected to average approximately 5.7 percentage points lower compared to pre-2010 levels.

China: Chile trade meeting not about TPP

TPPChina claims a trade meeting in Chile this week is not strictly about the Trans-Pacific Partnership, once led by the United States. Representatives from the 12 member countries that formed the TPP, along with China and South Korea are meeting in Chile. This is the first TPP meeting of member-nations since President Donald Trump pulled the U.S. from the trade agreement. A spokesperson from China said the meeting is not a TPP meeting, but rather a focus on “Asia-Pacific integration and the next step for cooperation,” according to Reuters. Officials in Chile hoped the meeting would explore options going forward, including the possibility of building on the base of pre-existing agreements. Critics of the U.S. move out of TPP say the meeting opens the door for China to lead the way on global trade. China has expressed no interested in joining TPP, but rather, remains open to “all regional free trade efforts.” TPP would have provided an annual $4.4 billion boost to U.S. agriculture.

Agriculture Secretary nominee Perdue divesting business interests

perdueAgriculture Secretary nominee Sonny Perdue plans on divesting his business interests as part of becoming the next leader at the Department of Agriculture. The Atlanta Journal Constitution newspaper reports Perdue plans to step down from his business holding company and restructure his family trusts, should the Senate confirm his appointment. The White House has forwarded all financial and ethics documents to the Senate Agriculture Committee, which will hold the confirmation hearing. Federal documents show that as part of a deal struck with the Office of Government Ethics, Perdue would resign from positions as manager of Perdue Management Holdings, LLC, and as a board member of Perdue Business Holdings. Perdue would also leave positions at the National Grain and Feed Association, the Georgia Agribusiness Council and the Bipartisan Policy Center, while also putting his assets into a blind trust. The Senate Agriculture Committee has yet to schedule a hearing for Perdue, but a date could be set for next week.

Tuesday’s closing grain bids

March 14th, 2017

St Joseph

 

Yellow Corn

3.27 – 3.32

White Corn

no bid

Soybeans

9.34

LifeLine Foods

3.29

 

 

Atchison

Yellow Corn

3.32 – 3.35

Soybeans

9.24

Hard Wheat

3.57

Soft Wheat

 3.65

 

 

Kansas City Truck Bids

 

Yellow Corn

3.35 – 3.40

White Corn

3.52 – 3.57

Soybeans

9.44 – 9.47

Hard Wheat

3.93

Soft Wheat

3.81 – 3.83

Sorghum

5.40

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

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