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Milk producers to talk GMO’s on capitol hill

congress-321420_640As Congress is back in session this week, dairy producers and dairy cooperative officials will be there to discuss GMO labeling. Politico reports the National Milk Producers Federation members want a bill that establishes a national labeling standard that trumps state laws and sets disclosure standards on foods that contain genetically engineered ingredients. The organization also want to exempt products from animals that consume genetically modified feeds from the labeling requirements, including cheese, meat, and eggs.

Tuesday’s closing cash grain bids

June 7th, 2016

St Joseph

 

Yellow Corn

3.96 – 4.05

White Corn

no bid

Soybeans

10.88 – 10.98

LifeLine Foods

4.03

 

 

Atchison

 

Yellow Corn

4.12

Soybeans

10.71

Hard Wheat

 4.30

Soft Wheat

4.34

 

 

Kansas City Truck Bids

 

Yellow Corn

 4.16 – 4.18

White Corn

 4.54 – 4.59

Soybeans

 11.06

Hard Wheat

 4.65

Soft Wheat

 4.34

Sorghum

 6.66

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

Thailand, Taiwan express interest in joining TPP

Nations hoping to join the Trans-Pacific Partnership have begun preparations to ensure acceptance when the trade deal opens to new member states. The TPP currently represents 12 countries that account for nearly 40 percent of global Gross Domestic Product. The National Pork Producers Council says the deal would be the “biggest commercial opportunity ever for U.S. pork producers.” Meanwhile, Thailand’s Deputy Prime Minister last week stressed the need for the country to improve its competitiveness as part of preparations for joining the TPP. Taiwan’s new president previously indicated she wants the island nation to join the TPP and that the country must resolve issues related to imports of U.S. pork products, including its ban on ractopamine. Along with Thailand and Taiwan, South Korea, the Philippines, Indonesia, Honduras and Colombia have expressed an interest in joining the TPP.

Red meat exports deliver excellent returns for U.S. corn producers

Photo by Nadia Thacker
Photo by Nadia Thacker

A study by the U.S. Meat Export Federation finds U.S. beef and pork exports returned $1.3 billion to U.S. corn farmers in 2015. The independent study commissioned by USMEF was conducted by World Perspectives, a leading agricultural consulting firm. Dave Juday, World Perspectives senior analyst, says if there were no meat exports in 2015, corn prices “would have been about $3.15 per bushel,” instead of the season average of $3.60. That would have accounted for a loss of 45 cents per bushel, which Juday says would have amounted to about $6 billion to the corn industry last year.

Center for Regulatory Effectiveness calls EPA atrazine accusations false

Environmental Protection Agency EPAThe Center for Regulatory Effectiveness states the Environmental Protection Agency’s new “preliminary” ecological risk assessment relies on computer models to predict environmental effects from use of the herbicide atrazine. The EPA released a draft proposal last week that suggests atrazine is harmful to the environment.The Center says those predictions are not true, adding that there is no real world data showing that EPA’s predictions have actually occurred, despite atrazine’s widespread international use for more than 60 years. The center claims EPA’s unsupported accusations violate EPA’s own Model Quality Guidelines, which require that model predictions be consistent with real world data before they are used to regulate.

Former FDA commissioner worried over GMO labeling

FDAFormer FDA Commissioner Margaret Hamburg under the Obama administration says GMO labeling could send the wrong message to consumers. Hamburg says GMO labeling worries her the most, adding she worries about entering a period “of what some call science denialism out of fear,” according to Politico. Hamburg says mandatory labeling potentially sends the message that GMO’s are dangerous. Her comments come as Congress has just two weeks’ worth of working days left to complete a GMO labeling compromise before the Vermont labeling law takes effect. Senate Agriculture Committee Chairman Pat Roberts, a Republican from Kansas, and the committee’s ranking Democrat, Debbie Stabenow of Michigan, are reportedly still working on a labeling compromise. However, with little time left, some lawmakers, such as Senator Chuck Grassley of Iowa, are “unconvinced” Congress can pass a deal before July first when the Vermont law takes effect.

Monday’s closing grain bids

June 6th, 2016

St Joseph

 

Yellow Corn

3.95 – 4.04

White Corn

no bid

Soybeans

10.83 – 11.07

LifeLine Foods

4.01

 

 

Atchison

 

Yellow Corn

4.11 – 4.12

Soybeans

10.68

Hard Wheat

 4.16

Soft Wheat

4.07

 

 

Kansas City Truck Bids

 

Yellow Corn

 4.15 – 4.17

White Corn

 4.50 – 4.59

Soybeans

 11.03

Hard Wheat

 4.61

Soft Wheat

 4.33

Sorghum

 6.65

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

Cuba wants credit to increase food production

Cuba’s agriculture minister says the country wants to increase food production to cut food imports in half. Cuba currently imports $2 billion of food per year, but it needs medium and long-term credit to buy U.S. equipment to achieve that goal of cutting food imports in half, according to the Hagstrom Report. Cuba needs new equipment as many farmers are using Caterpillar, John Deere and Massey Ferguson farm equipment that were imported before the 1959 revolution. Financing exports to Cuba, even of agricultural products, is prohibited under the 2000 law that allowed agricultural exports.

World food markets likely to remain stable

UN 2 logoThe United Nations says global food commodity markets are likely to remain stable, even as prices rose for the fourth straight month. The UN’s Food and Agriculture Organization’s monthly food price report rose 2.1 percent in May to average 155.8 points. Rising prices for most main food commodities apart from vegetable oils resulted in the index’s fourth consecutive monthly rise after it hit a near seven-year low in January, according to Reuters. The FAO says solid output prospects and abundant stocks should keep prices and supplies stable, while lower prices than those seen last year are set to reduce the world’s food import bill. Meanwhile, dairy prices rose 0.4 percent in May partly due to continued demand for milk powder and butter, but are still down 24 percent since last year and expected to stay weak, according to the monthly index.

Bayer secured funding for Monsanto bid

MonsantoDespite Monsanto rejecting a takeover bid by Bayer AG, Bloomberg reports Bayer has secured $67 billion in financing for the proposal. Bayer reportedly picked five individual banks to each provide about $12.5 billion in short-term loans to secure financing. The loan reportedly includes an option to be increased should the company bump its current offer of $122 per share. According to a report by Reuters, the loan totals 60 billion euros, or $67 billion, and can be expanded up to 75 billion euros. Monsanto has rejected Bayer’s initial $62 billion buyout offer, claiming the proposal was too low. Acquiring Monsanto would make Bayer the world’s biggest supplier of farm chemicals and seeds.

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