October 21st, 2016
St Joseph |
|
Yellow Corn |
2.97 – 3.02 |
White Corn |
no bid |
Soybeans |
9.23 – 9.29 |
LifeLine Foods |
3.09 |
|
|
|
Atchison |
|
Yellow Corn |
3.12 – 3.13 |
Soybeans |
9.08 |
Hard Wheat |
3.14 |
Soft Wheat |
3.21 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.13 |
White Corn |
3.66 – 3.69 for Dec. delivery |
Soybeans |
9.48 |
Hard Wheat |
3.42 |
Soft Wheat |
3.15 |
Sorghum |
5.22 |
For more information, contact the 680 KFEQ Farm Department.
816-233-8881.
The Department of Agriculture Thursday announce a streamlined version of USDA guaranteed loans, which are tailored for smaller scale farms and urban producers. The program, called EZ Guarantee Loans, uses a simplified application process. The program is for beginning, small, underserved and family farmers and ranchers, according to USDA. Through the program, they can apply for loans of up to $100,000 from USDA-approved lenders to purchase farmland or finance agricultural operations. USDA Secretary Tom Vilsack said the loans would help farmers obtain needed capital to start or expand their operation. USDA also unveiled a new category of lenders that will join traditional lenders, such as banks and credit unions, in offering USDA EZ Guarantee Loans. Microlenders, which include Community Development Financial Institutions and Rural Rehabilitation Corporations, will be able to offer their customers up to $50,000 of EZ Guaranteed Loans, helping to reach urban areas and underserved producers.
The final 2017 Renewable Fuel Standard is now under review by the White House Office of Management and Budget. The White House review is expected to be completed within the next 90 days to set renewable volume obligations in the RFS. DTN reports the OMB received the final rule from the Environmental Protection Agency on Wednesday and that puts the EPA on track to finalize volumes by the statutory November 30th deadline. Over the last few years, EPA has struggled to meet the deadline. EPA proposed a 2017 total RFS volume of 18.8 billion gallons, including 14.8 billion gallons of corn-based ethanol and two billion gallons of biodiesel. DTN says the final rule could be released within the next 30 days, depending on how long the OMB analysis takes.
The organic industry wants more certification for organic products. The Organic Trade Association told public officials during a Thursday roundtable consumers need to trust organic marketing of products beyond food. That includes cosmetics, household cleaners and other non-food products claiming to be organic. The Organic Trade Association presented its case during the roundtable to the Federal Trade Commission and the U.S. Department of Agriculture. OTA says the roundtable was organized to determine if the FTC needs to issue further guidance to makers of non-food products that use the organic claim or term, but do not use the USDA Organic seal or make any reference to organic certification. A survey by OTA found consumers who are buying organic feel that both organic food products and non-food products claiming to be organic should be regulated in the same manner. The National Organic Program regulates strict organic standards for agricultural products. However, the program’s enforcement authority does not extend to certain types of non-food or non-agricultural products.
The U.S. Cattlemen’s Association says proposed changes to live cattle futures by CME Group will not address the concerns of producers across the country. CME group is considering switching to a cash settlement process for live cattle futures, the same settlement process for other livestock futures operated by CME. Modifications to the physical delivery process are also being considered. USCA Marketing Committee Chair Allan Sents explains “the need to evaluate the current state of the livestock marketplace is real,” but says the proposal is a step in the wrong direction. USCA says the proposed changes will do nothing to impact the amount of high frequency, overly speculative trading, which the organization says must be addressed to achieve market stability. USCA concludes “efforts must instead be made toward encouraging ‘long’ participation and addressing the many issues currently within the futures market, not the settlement process.”
Syngenta is seeking an appeal in a lawsuit filed by farmers regarding Agrisure Viptera branded corn. The corn contains a biotech trait that at the time of question was not approved for import to China, but was found in U.S. shipments to China in 2013 and 2014. A group of farmers is seeking $5 billion in a lawsuit because they say the discovery of Viptera corn in the export system led China to reject U.S. corn, causing a price collapse of the commodity. The court decision created nine classes within the suit. DTN reports Syngenta is asking for a chance to appeal the decision. All farmers in the U.S. who priced corn for sale after November 18th, 2013, were approved as a major class in the lawsuit. The company is dealing with multiple lawsuits regarding the issue and argues the case is unprecedented given the guarantee that tens of thousands of cases will remain separate from the class. Attorneys for Syngenta said that creating a nationwide class of farmers for the case was not fair because it would include farmers who were not harmed by the trade dispute.
Despite the Obama Administration lifting restrictions last week on Cuba and a quest to normalize relations with the nation, House Speaker Paul Ryan says the embargo against Cuba will continue. The Wisconsin Republican blasted the Obama administration’s latest round of regulatory changes meant to chip away at the U.S. embargo against Cuba and ease trade and travel with the island nation. The Miami Herald reports the strong rhetoric by Ryan on Cuba appears to be increasing. The embargo withholds financing for U.S. commodity shipments to Cuba as the transaction and shipment of U.S. commodities currently can only take place with third party financing. Ryan says allowing normal financing would only finance “the Castros’ grip on power” and jeopardize property rights of American businesses. The announcement last week does allow financing for farm inputs, such as crop protection products and machinery. The administration also removed a shipping barrier, keeping U.S. ships traveling directly to Cuba from returning for 180 days.