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Presidential Debate Touches on Trade and Regulations

Donald Trump and Hillary Clinton talked trade as one of the topics of the first Presidential debate on Monday night. Trump accused Clinton of supporting the Trans-Pacific Partnership, a 12-nation deal supported by American agricultural groups. Trump accused Clinton of secretly supporting the TPP, noting that she once described TPP as “the gold standard of trade deals.” Trump also called the North American Free Trade Agreement one of the “worst deals in history.” Clinton insisted she was opposed to TPP and noted that she voted against the Central America Free Trade Deal while in the Senate. She also argued that trade is critical to the U.S. economy, saying “We are five percent of the world’s population and we have to trade with the other 95 percent.” An Agri-Pulse report says Trump also accused Clinton of wanting to expand the Obama Administration’s regulatory agenda, saying she would “Regulate businesses out of existence.” Clinton said her economic plan would “cut regulations and streamline them for small businesses” but didn’t say how.

Tuesday’s closing grain markets

September 27th, 2016

St Joseph

 

Yellow Corn

2.92 – 2.94

White Corn

no bid

Soybeans

8.90 – 9.53

LifeLine Foods

3.00

 

 

Atchison

 

Yellow Corn

2.96 – 3.00

Soybeans

9.17

Hard Wheat

 3.19

Soft Wheat

3.14

 

 

Kansas City Truck Bids

 

Yellow Corn

 2.97 – 3.00

White Corn

 3.42 – 3.48
for Dec. delivery

Soybeans

 9.63

Hard Wheat

 3.39

Soft Wheat

 3.19

Sorghum

4.85

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

Farm Bureau survey shows lower food prices

food groceriesThe annual Fall Marketbasket survey by the American Farm Bureau Federation shows lower retail food prices compared to the same time last year. The survey released Monday showed an eight percent decrease, or four dollars in price, to total $49.70. The marketbasket survey features 16 common food items including eggs, whole milk, cheddar cheese, chicken breast, sirloin tip roast and ground chuck. Of the 16 products, 13 in all decreased in price while just three increased in average price. Egg prices saw the most significant price drop, down 51 percent compared with last year. Farm Bureau’s John Newton says that is because egg production is recovering well from the 2014 avian influenza outbreak. Prices for bagged salad, apples and potatoes all increased. Newton says apple prices are higher because of dry conditions in apple growing areas, and salad prices are up because of lower output by farmers in California and Arizona.

Court strikes down tighter anhydrous ammonia restrictions

osha logoThe Ag Retailers Associations says Friday’s court decision to strike down tighter anhydrous ammonia restrictions will save U.S. retailers an estimated $100 million in compliance costs. A U.S. appeals court ruled against the Occupational Safety and Health Administration, known as OSHA, because the Administration violated the Occupational Safety and Health Act. Last year, OSHA issued a memo redefining the retail facility exemption to the Process Safety Management Standard without seeking industry input. The appeals court ruled OSHA should have posted for public comment the proposed changes to the PSM standard. Process Safety Management applies to any facility storing 10,000 pounds or more of anhydrous ammonia. However, retail agriculture facilities selling more than 50 percent of the fertilizer to farmers have been exempt from PSM. OSHA’s 2015 memo eliminated the exemption.

USDA waiting on more funding

USDA logoAgriculture Secretary Tom Vilsack says the U.S. Department of Agriculture needs more funding to continue distributing aid to farmers hit by low commodity prices. Vilsack said last week “hopefully with the continuing resolution, we can take a look at what additional steps we might be able to provide” to farmers and the agriculture industry. Senate Majority Leader Mitch McConnell, a Kentucky Republican, introduced a stopgap funding measure last week that would also accelerate reimbursement funding for USDA’s Commodity Credit Corporation, a USDA-run entity that helps farmers endure unstable market prices by providing loans and purchasing surplus commodities. Pro Farmer’s First Thing Today reports President Barack Obama requested the provision in August, saying the Commodity Credit Corporation would exceed its $30 billion borrowing limit during the period of the continuing resolution and needed its annual reimbursement moved forward to continue operating.

State ag directors say next Farm Bill could provide relief

corn, farmA group of state agriculture directors says the next farm bill could offer relief to farmers in the midst of lower commodity prices and lower farm income. The National Association of State Departments of Agriculture met in Nebraska last week. Politico reports members mulled over issues including dairy prices, water quality issues and disaster relief funding as farm bill priorities for the group. NASDA expects to finalize its farm bill priority list early next year. The group discussed adding a title to the farm bill related to land transition. South Carolina Agriculture Secretary Hugh Weathers said “if getting new people into farming is seen as that vital, then it has a place in the farm bill,” in regards to helping new farmers get farmland. Vermont Agriculture Commissioner Chuck Ross added “Capitol Hill tends to listen to state agriculture officials when it comes to the farm bill,” that’s because nearly all of NASDA’s priorities for the 2014 Farm Bill were included in the final legislation.

Monday’s closing grain markets

September 26th, 2016

St Joseph

 

Yellow Corn

2.89 – 2.91

White Corn

no bid

Soybeans

8.85 – 9.47

LifeLine Foods

2.96

 

 

Atchison

 

Yellow Corn

2.94 – 2.97

Soybeans

9.10

Hard Wheat

 3.14

Soft Wheat

3.06

 

 

Kansas City Truck Bids

 

Yellow Corn

 2.94 – 2.99

White Corn

 3.44 – 3.52
for Dec. delivery

Soybeans

 9.55

Hard Wheat

 3.34

Soft Wheat

 3.11

Sorghum

4.80

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

 

Ag groups urge swift resolution on shipping company bankruptcy

Agriculture groups, including the American Soybean Association, are asking the U.S. Commerce Department to assist in finding a quick resolution to the Hanjin (Han-gin) Shipping Company bankruptcy. A letter to the Commerce Department expressed concern and anxiety among shippers, as to when the South Korea-based shipper would be allowed to enter ports, if their goods will be seized by Hanjin’s creditors once they are docked and the status of cargo that remains at overseas ports. South Korea said Friday it appears the company had built up enough cash to unload goods. At the beginning of this month, Hanjin filed for bankruptcy. By mid-month, the International Longshoremen’s Association refused to work Hanjin containers at East Coast and Gulf Coast ports because of Hanjin’s debts. Other agricultural groups signing onto the letter include the American Farm Bureau Federation, the National Grain & Feed Association, the National Pork Producers Council and the National Cattlemen’s Beef Association

Heritage Foundation slams Farm Bill

Farm BillThe Heritage Foundation last week released its most sweeping critique of U.S. agriculture policy, according to Politico. The foundation called on Congress to revamp its approach to crop insurance, food stands, renewable fuels and trade. The 148-page report calls on Congress to eliminate the Renewable Fuels Standard along with trade-stifling tariffs and tariff rate quotas. The report also criticizes Congress for subsidizing cotton producers, a move the Foundation says opens the U.S. to World Trade Organization disputes, and for acting slowly to stop country of origin labeling for meat. While Politico reports many of the suggestions may never be realized, the report could influence some conservative members of Congress to eliminate support for farmers to balance the budget. Agriculture leaders in the House and Senate insist the current Farm Bill will not be reopened, and consideration of the next Farm Bill are sometime in 2017.

China places anti-dumping duties on U.S. DDGs

Gallatin GrainChina on Friday announced anti-dumping duties on U.S. distillers ‘dried grains, or DDGs, shipped by two U.S. suppliers. The 33.8 percent duties are effectively immediately against Louis Dreyfus and Archer Daniels Midland. There’s no word on a final decision, but the duties stem from a months-long investigation by China following complaints that the U.S. was unfairly benefiting from subsidies, according to Pro Farmer’s First Thing Today. China is the world’s top buyer of DDGs, a by-product of corn ethanol. China imports almost all of its DDGs from the United States, the largest exporter. Trade experts fear the final decision regarding the duties on DDGs could be even higher than the one issued Friday.

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