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Deputy ag under secretary tours minnesota to promote TPP

field, farmDeputy Under Secretary for Farm and Foreign Agricultural Services Alexis Taylor will tour two Minnesota farms today to talk trade. She’ll meet with local producers to highlight the importance of trade and exports to family farming and livestock operations. She’ll tour a beef farm consisting of 700 registered Angus cows and 4,200 acres of crops and pastures. Taylor will also stop a seed farm operation with 2,000 acres of corn and beans plus 1,700 acres contracted for seed production. Both operations have experience exporting products to different markets. Minnesota’s ag exports are worth over $7 billion and support 55,000 jobs in the state. Taylor will highlight how the Trans-Pacific Partnership is still waiting for Congressional approval, and how it will benefit farmers by expanding exports to the Asia-Pacific region.

Cuba buys soybean oil from U.S.

soybeans 2USDA’s export sales data showed Cuba recently bought soybean oil from the United States for the first time in five years. Pro Farmer’s First Thing Today says the export data showed the U.S. sold 7,600 metric tons to Cuba. This may be an indication of some concern over the quality of the soybean crop in Argentina as well as tightening supplies in Brazil. This could be pushing some buyers in the direction of U.S. soybeans and soy products. There are some in the markets who think this may signal a return of Cuba to buying American agricultural products because of lower prices due to a closer proximity.

Airline service to Cuba should help agriculture

Airplane

The U.S. Transportation Department recently approved travel to nine cities in Cuba and that should help agriculture. The Hagstrom Report says the move makes it easier for ag producers who want to sell to Cuba to travel there as many of the destination cities are important to agriculture. Flights could begin by early this fall. Havana isn’t one of the cities approved because airlines have requested 60 flights per day there, so the Transportation Department will have to select from among different proposals. A decision on the Havana routes could come late this summer. The DOT approved six carriers to fly to Cuba from Miami, Fort Lauderdale, Chicago, Philadelphia, and Minneapolis/St. Paul. Transportation Secretary Anthony Foxx signed a non-legally binding agreement in February to re-establish scheduled air service between the two countries.

Tuesday’s closing grain bids

June 14th, 2016

St Joseph

 

Yellow Corn

4.04 – 4.11

White Corn

no bid

Soybeans

11.16 – 11.31

LifeLine Foods

4.14

 

 

Atchison

 

Yellow Corn

4.09  – 4.15

Soybeans

11.04

Hard Wheat

 4.03

Soft Wheat

4.25

 

 

Kansas City Truck Bids

 

Yellow Corn

 4.25

White Corn

 4.54 – 4.67

Soybeans

 11.35

Hard Wheat

 4.34

Soft Wheat

 4.50 – 4.55

Sorghum

 6.79 – 6.81

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

China soybean imports on pace for another record

soybeans 2Rising feed demand in China is expected to lift the nation’s soybean imports to another record this year, according to the U.S. Department of Agriculture. China’s 2016-2017 soybean crop is expected to total 12.5 million metric tons, up 900,000 from the year prior. Despite the increased domestic production, Pro Farmer’s First Thing Today reports the nation is still expected to boost soybean imports to another record of 85 million metric tons. That represents a three million metric ton difference from what USDA’s office in China expected shipments to total this marketing year. USDA says recovery in China’s swine production and growth in its poultry sector are projected to boost feed demand.

African flour millers touring U.S. wheat supply system

wheatAfrican flour millers from Nigeria, South Africa and Ghana are touring through wheat country this week. The team is traveling through Texas, Kansas, North Dakota and Minnesota to assess trade opportunities and U.S. wheat quality. The tour started Sunday and will wrap up next Friday. The U.S. Wheat Associates says bringing the team to see U.S. wheat quality and to discuss ways to keep their importing costs down is critical during a time of very aggressive competition. Throughout the tour, the team will meet with grain merchandisers and state wheat commissions, and visit farmers in each state to see the progress of this year’s crop.

Dow, DuPont shareholders to vote on merger next month

dupont dow logoStockholders for Dow Chemical and DuPont will hold separate shareholder meetings next week to vote on the proposed merger between the two companies. Both meetings will be held on July 20th. DuPont’s meeting will take place at its Wilmington, Delaware, headquarters, and Dow Chemical’s meeting will be at its Midland, Michigan, offices. The two companies announced a merger in December worth more than $120 billion. Once completed, Dow and DuPont will split into three separate publicly traded companies focused on agriculture, material science and specialty products. The combined company would have about $90 billion in total revenue, based on 2014 numbers. If approved, the merger would mark the end as independent entities of two of America’s oldest corporations as DuPont was founded in 1802 and Dow started in 1897.

Monsanto rejects second chance at Bayer deal

MonsantoMonsanto has rejected a second attempt by Bayer AG to purchase Monsanto. The Wall Street Journal Reports a second offer, that did not offer more money, requested detailed business information, known as due diligence, which Bayer said could lead to a higher offer. Monsanto saw the offer as little changed compared to the $62 billion proposal Bayer originally offered. Monsanto is refusing to grant such access until Bayer raises its bid. Monsanto also asked for clarity on other matters including regulatory risks before agreeing to a deal. Bayer has secured the financing needed to complete the original proposal. The deal would combine Monsanto, the biggest seed provider with a leading position in biotech crop development, with Bayer, which has a robust lineup of pesticides but a smaller presence in major crops like corn and soybeans.

GMO labeling debate continues as deadline nears

GMO tomatoSenate Agriculture Committee Chairman Pat Roberts and ranking member Debbie Stabenow are still trying to find common ground on GMO labeling legislation this week. The debate continues as time dwindles ahead of the July first implementation date of the Vermont GMO labeling mandate. Roberts says progress was made last week, but several issues remain unresolved, according to Politico. One remaining argument, according to those familiar with the ongoing negotiations, is over what to do about processed foods that contain both meat and genetically modified crops like corn, soybeans and sugar from sugar beets. Foods in that category include products like pepperoni pizza. The livestock industry is pushing for such items to be exempt from labeling requirements, based on what appears to be an agreement that meat and dairy products from animals fed GMOs should be exempt.

Monday’s closing cash grain bids

June 13th, 2016

St Joseph

 

Yellow Corn

4.00 – 4.05

White Corn

no bid

Soybeans

11.16 – 11.34

LifeLine Foods

4.07

 

 

Atchison

 

Yellow Corn

4.05  – 4.08

Soybeans

10.99

Hard Wheat

 4.05

Soft Wheat

4.41

 

 

Kansas City Truck Bids

 

Yellow Corn

 4.18

White Corn

 4.58 – 4.68

Soybeans

 11.34

Hard Wheat

 4.36

Soft Wheat

 4.56 – 4.61

Sorghum

 6.68 – 6.70

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

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