July 13th, 2016
St Joseph |
|
Yellow Corn |
3.38 – 3.47 |
White Corn |
no bid |
Soybeans |
10.95 – 11.09 |
LifeLine Foods |
3.46 |
|
|
|
Atchison |
|
Yellow Corn |
3.44 |
Soybeans |
10.72 |
Hard Wheat |
3.47 |
Soft Wheat |
3.64 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.55 |
White Corn |
3.77 – 3.93 |
Soybeans |
11.08 |
Hard Wheat |
3.75 |
Soft Wheat |
3.97 – 4.00 |
Sorghum |
5.30 – 5.39 |
For more information, contact the 680KFEQ Farm Department.
816-233-8881.
Three years of lower farm income has small bankers on notice. Kansas City Federal Reserve Bank executive director Esther George said this week “I wouldn’t say we’re in a crisis, but we are seeing signs of underperforming loans,” according to DTN. She suggested the Fed should consider raising interest rates now as the overall national economy seems ready for increases and low rates may be intensifying pressure felt by rural banks. While she says the banking industry is in a better position than a few years ago, George comments that “the banking industry does not benefit in a low-interest rate environment.” With little room to move interest rates lower, she says moving rates up now will avoid bringing risk to the economy later. George adds that the sagging agriculture economy is one of the most carefully monitored sectors in the economy right now by the Federal Reserve.
Agrium announced Wednesday the company will purchase Cargill’s agriculture retail business in the United States. Canada-based Agrium is North America’s largest retail seller of crop inputs and will acquire 18 agriculture retail locations in Nebraska, South Dakota, Minnesota, Wisconsin, Michigan and Indiana. In a news release, Agrium stated company officials expect the deal to close by the end of the third quarter, following regulatory review. The deal does not involve any of Cargill’s agriculture retail sites in Canada. Cargill operates 57 AgHorizons retail locations in Canada and 34 are attached to Cargill grain elevators. Reuters says the deal marks the latest transformative move for privately held Cargill, which is refocusing its operations by exiting some lower-margin businesses and expanding into higher-margin endeavors.
A recent online survey found Vermont’s GMO labeling law strongly misleads consumers. The survey, sponsored by the American Soybean Association, asked more than 1,600 shoppers regarding their understanding of five common on-pack food labels. When consumers were asked about the GMO label statements mandated by the Vermont law, the survey showed that on-pack labeling misled consumers to wrongly perceive the labeled product as less safe, less healthful, less nutritious, and worse for the environment. Approximately 73 percent of consumers responding to the survey indicated they would be less likely to buy foods bearing one of the required on-pack GMO label disclosures. The five food labels tested were common food label statements related to trans-fat, allergens, gluten, organic and GMOs. Following the announcement, ASA concluded “the survey results strongly suggest support for the Roberts Stabenow compromise.”
The U.S. Senate Wednesday afternoon narrowly approved a procedural vote on GMO labeling, setting up a possible final vote Thursday (today), according to the Hagstrom Report. The Senate voted 65 to 32 to limit debate on the bill. The voting was briefly interrupted by protesters throwing money and yelling “you’ve been bribed by Monsanto.” Senate Minority Leader Harry Reid of Nevada voted against the bill, arguing that senators should have had the opportunity to offer amendments. The bill, known as the Roberts-Stabenow compromise, preempts state laws requiring labeling of genetically modified foods and establishes a federal mandatory disclosure system. The compromise was reached after lengthy back-and-forth debate between Senate Agriculture Committee Chairman Pat Roberts and the committee’s ranking Democrat, Debbie Stabenow. Farm Groups, such as the American Farm Bureau, the National Corn Growers Association and the American Soybean Association, are urging the U.S. House to quickly consider the measure once it presumptively passes the Senate.