House and Senate ag leaders announced a farm bill agreement, in principle, Thursday morning. In a joint statement, the so-called big four said: “We’re pleased to announce that we’ve reached an agreement in principle on the 2018 Farm Bill. We are working to finalize legal and report language as well as CBO scores, but we still have more work to do. We are committed to delivering a new farm bill to America as quickly as possible.” The statement includes House Ag Chair Mike Conaway and Ranking Member Collin Peterson, along with Senate Ag Chair Pat Roberts and Ranking Member Debbie Stabenow. Leadership reported Wednesday a deal was close after agreeing not to include sweeping reforms to the forestry title of the bill.
Category: Agriculture
Wednesday’s Closing Grain Bids
November 28th, 2018
St Joseph |
|
Yellow Corn |
3.54 |
White Corn |
no bid |
Soybeans |
8.35 – 8.40 |
LifeLine Foods |
3.61 |
|
|
|
Atchison |
|
Yellow Corn |
3.58 – 3.60 |
Soybeans |
8.35 |
Hard Wheat |
4.27 |
Soft Wheat |
4.47 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.65 |
White Corn |
no bid |
Soybeans |
8.56 – 8.61 |
Hard Wheat |
4.77 |
Soft Wheat |
4.68 – 4.73 |
Sorghum |
5.54 – 5.63 |
For more information, contact the 680 KFEQ Farm Department.
816-233-8881.
Argentina Replaces China as Largest Buyer of U.S. Soy
The trade war between the U.S. and China has made Argentina the top buyer of U.S. soybeans. Department of Agriculture Data shows that 1.3 million metric tons of U.S. soybeans have been inspected for export to Argentina from September 1 through November 22. That compares with none in the same year-ago period. China, previously the top buyer of U.S. soy, is seeking purchases elsewhere amid the tit-for-tat trade war with the United States. Bloomberg News reports that normally Argentina processes its own soybeans to export meal and oil. But, with China on the hunt for non-American soy, it’s shipping out more raw beans and buying more from the U.S. to feed its crushers, especially after a drought earlier this year curbed output. At the start of the trade war, China placed a 25 percent tariff on U.S. soybean, seeking to inflict the most pain possible on the U.S. by targeting agriculture.
Romaine Growers to Change Labeling, Resume Selling
Romaine lettuce growers can harvest and send their product to market with special regional labeling. The Food and Drug Administration called the labeling voluntary, which includes harvest location and harvest date. The labeling agreement was negotiated by a number of romaine grower-shipper-processors, who have each pledged to abide by the labeling suggestions, according to the United Fresh Produce Association. The FDA advisory had virtually banned romaine sales in the United States. In a statement, the FDA believes it was critically important to have a “clean break” in the romaine supply available to consumers in the U.S. in order to “purge the market” of potentially contaminated romaine lettuce related to the current outbreak. Since, the FDA has isolated the outbreak to the Central Coast growing regions of central and northern California.
Forestry Title a Farm Bill Sticking Point
As agriculture eagerly awaits a farm bill, another hurdle has emerged. Now, a forestry dispute appears to be in the way, according to Politico. Pat Roberts, chair of the Senate Agriculture Committee, continues to insist that the conference committee negotiators are “close” to reaching an agreement. He says finding an agreement on the forestry title is the biggest obstacle. That’s because lawmakers are considering whether or not the title will include active management of areas at risk to wildfires, a request by President Donald Trump but opposed by Democrats and environmental groups. Opposition says active forest management could “devastate forests” and “wipe out plants and animals.” Roberts told reporters earlier this week that if the issue is settled, “that would indicate that the light went from yellow to green” on the entire conference report.
Tuesday’s Closing Grain Bids
November 27th, 2018
St Joseph |
|
Yellow Corn |
3.50 |
White Corn |
no bid |
Soybeans |
8.20 – 8.25 |
LifeLine Foods |
3.57 |
|
|
|
Atchison |
|
Yellow Corn |
3.54 – 3.56 |
Soybeans |
8.20 |
Hard Wheat |
4.18 |
Soft Wheat |
4.48 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.57 |
White Corn |
no bid |
Soybeans |
8.41 – 8.46 |
Hard Wheat |
4.69 |
Soft Wheat |
4.58 – 4.73 |
Sorghum |
5.47 – 5.56 |
For more information, contact the 680 KFEQ Farm Department.
816-233-8881.
Strong Demand Keeping Pork Supplies Current
Strong demand is helping the pork industry push through high production. An outlook published by the Department of Agriculture’s Economic Research Service shows that though fourth-quarter pork production is on track to reach a record high of more than seven billion pounds, up 3.5 percent from a year ago, the ending stocks-to-production ratio is projected to drop to its lowest level since 1990. Meat industry publication Meatingplace says that means domestic demand is outpacing production because U.S. consumers are likely responding to lower prices by buying more pork at a time when disposable personal incomes are rising. Fourth-quarter hog price forecasts reflect heavy supplies, almost nine percent lower than prices during the same period last year. For the full year, commercial pork production is projected at a record 26 billion pounds.
Mexico and Canada Confirm USMCA Signing this Week
Leadership of Mexico and Canada have confirmed the two nations will sign the U.S.-Mexico-Canada Agreement Friday that replaces the North American Free Trade Agreement. Politico reports that Canada’s Justin Trudeau and the outgoing Mexican President will sign the pact on the Mexican official’s last day in office at the G20 Summit, where President Trump is also expected to talk trade with China. The confirmation comes as there is no steel and aluminum tariff resolution for Mexico and Canada, once thought to be a contingent by the two nations. Canadian Finance Minister Bill Morneau last week said Canada was “not going to make one set of negotiations contingent on the other.” Mexico and Canada both had previously threatened to hold off on signing the USMCA until President Trump removed the steel and aluminum tariffs. The tariffs are also thought to limit any gains in the new agreement once in place.
Congress Returns with Hopes of Farm Bill Passage
Lawmakers return to Washington, D.C., this week with a need to still find a path forward on the farm bill. However, multiple measures, including 2019 appropriation bills, must also be passed in the lame-duck session. The House is scheduled to leave on Thursday, December 13th, while the Senate is scheduled to adjourn on Friday, December 14th. But, Congress could stay in session longer if the necessary end-of-the-year business is not completed by the target dates, according to the Hagstrom Report. Leaders of the House and Senate agriculture committees say they still hope to finish a farm bill this session, but they have not shown signs of reaching a final agreement. Iowa Senator Chuck Grassley has hinted that the farm bill might be added to the appropriations bill so that House leadership would not have to bring it up as a separate piece of legislation. Meanwhile, Representative Collin Peterson of Minnesota, who will chair the House Ag Committee next year, says that if the bill does not pass, he wants to organize his committee quickly in January and bring up the farm bill in short order.
Monday’s Closing Grain Bids
November 26th, 2018
St Joseph |
|
Yellow Corn |
3.50 |
White Corn |
no bid |
Soybeans |
8.07 – 8.12 |
LifeLine Foods |
3.56 |
|
|
|
Atchison |
|
Yellow Corn |
3.53 – 3.56 |
Soybeans |
8.07 |
Hard Wheat |
4.19 |
Soft Wheat |
4.32 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.56 |
White Corn |
no bid |
Soybeans |
8.27 – 8.32 |
Hard Wheat |
4.74 |
Soft Wheat |
4.77 – 4.82 |
Sorghum |
5.46 – 5.55 |
For more information, contact the 680 KFEQ Farm Department.
816-233-8881.