We have a brand new updated website! Click here to check it out!

Trump Threatens to Add $200 Billion in More Tariffs

Bloomberg says President Trump wants to proceed with another $200 billion in tariffs on Chinese imports as soon as the public comment period wraps up this week. Six people familiar with the matter spoke anonymously with Bloomberg for the article. Companies and people have until September 6th to submit comments on duties that will cover everything from semiconductors to selfie sticks. Some sources say the president will implement the tariffs and others say there hasn’t been a final decision yet. It’s possible that the tariffs will either come in installments or several weeks after an official announcement. Bloomberg says the latest tariff threat is causing heated debate within the administration. U.S. Trade Rep Robert Lighthizer and trade adviser Peter Navarro are pushing for quick action. Treasury Secretary Steven Mnuchin (Muh-NOO-chin) and economic adviser Larry Kudlow are asking for more time. If implemented, the $200 billion in additional tariffs would be the biggest number imposed to date and mark a major escalation in the trade war between the worlds’ two biggest economies.

Friday’s Closing Grain Bids

August 31st, 2018

NO markets Monday due to Holiday

St Joseph

 

Yellow Corn

3.31 – 3.38

White Corn

3.38

Soybeans

7.63 – 7.78

LifeLine Foods

 3.46

 

 

Atchison

Yellow Corn

 3.46

Soybeans

 7.70

Hard Wheat

 4.93

Soft Wheat

 4.68

 

 

Kansas City Truck Bids

 

Yellow Corn

3.36 – 3.41

White Corn

no bid

Soybeans

7.98

Hard Wheat

5.53

Soft Wheat

 5.33

Sorghum

5.55 – 5.64


USDA Cash Grain Prices

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

Farm Bill Differences Remain

Lawmakers met this week on the farm bill, making “good progress.” However, major differences remain between the House and Senate bills that the conference committee will address next week. Congress returns next week with 16 days in-session scheduled for the Senate in September, and 11 in-session days in the House of Representatives. That means differences in the farm bill must be ironed out quickly to pass the bill before the current one expires at the end of September. Agriculture Chairman Pat Roberts told Bloomberg “some real progress was made,” including on the nutrition title. However, Debbie Stabenow, the top Democrat on the panel, indicates there is much work left to do. Stabenow says “there are big differences between the House and Senate farm bills, not just nutrition,” citing specifically the commodity and conservation provisions. The House version of the bill includes work requirements for recipients of the Supplemental Nutrition Assistance Program, and Freedom Caucus members in the House, the same lobby the voted down the farm bill earlier this year, say: “We want what we have in the House farm bill.”

Growth Energy, RFA Demand Transparency for Small Refinery Exemptions in New Lawsuit

(RFA) Growth Energy and The Renewable Fuels Association this week filed a lawsuit in federal district court, alleging that the Environmental Protection Agency and Department of Energy have improperly denied agency records requested by Growth Energy, RFA, and others under the Freedom of Information Act. The requested documents relate to exemptions from Renewable Fuel Standard compliance obligations granted by EPA. “The EPA should come clean and provide the public with what it deserves – a full accounting of the stark increase in the number of small refinery exemptions it has granted in recent years,” said Growth Energy CEO Emily Skor. “We deserve to know why EPA has supercharged its approvals of these exemptions without reallocating lost gallons and making sure that RFS volumes are met each year.” Growth Energy and RFA are the named plaintiffs in the lawsuit, filed in the U.S. District Court for the District of Columbia. Both Growth Energy and RFA have submitted several records requests dating back to April 2018 seeking information related to exemptions from the RFS that EPA has granted to small refineries in complete secrecy. EPA and DOE have failed to act within the timeframes required by FOIA and have improperly withheld the requested documents. By filing this lawsuit now, Growth Energy, RFA, and their allies in the renewable fuel industry aim to increase transparency and foster better oversight of EPA’s use of small refinery exemptions.

Administration on E15: “Let’s Get it Done”

Year-round E15 sales might be nearing reality. Agriculture Secretary Sonny Perdue told reports in Boone, Iowa at the Farm Progress Show that he has spoken with the President, who wants to make an announcement next week. Perdue told the Iowa City Gazette he received a phone call from the White House while attending the outdoor farm show. Trump told Perdue “let’s get it done,” ordering him to meet with Environmental Protection Agency acting administrator Andrew Wheeler. Following the call, Perdue told reporters he expects to have an announcement “sooner rather than later.” Perdue says the action needs to clear some legal and regulatory hurdles, but added Trump gives executive orders, not suggestions, saying “so we’re going to get it done.” The question remains though, at what cost would E15 sales come under the give-and-take operating nature of the Trump administration, more so with the controversial actions around the Renewable Fuel Standard.

Thursday’s Closing Grain Bids

August 30th, 2018

 

St Joseph

 

Yellow Corn

3.22 – 3.28

White Corn

3.28

Soybeans

7.51 – 7.63

LifeLine Foods

 3.36

 

 

Atchison

Yellow Corn

 3.36

Soybeans

 7.58

Hard Wheat

 4.82

Soft Wheat

 4.58

 

 

Kansas City Truck Bids

 

Yellow Corn

3.26 – 3.31

White Corn

no bid

Soybeans

7.87

Hard Wheat

5.42

Soft Wheat

 5.23

Sorghum

5.38 – 5.46


USDA Cash Grain Prices

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

R-CALF Looking for COOL in NAFTA

R-CALF is hopeful the details of the U.S.-Mexico announcement as part of the North American Free Trade Agreement negotiations will include country-of-origin meat labeling. R-CALF, a long-time supporter of COOL, in a statement by its CEO said: “We hope that a further release of details will show that COOL will be required for Mexican beef and beef from Mexican cattle.” The organization says trade agreements, like NAFTA, allow unlimited numbers of tariff-free cattle from countries like Mexico, where cattle are overproduced at a significantly lower cost, and displace opportunities for current and aspiring U.S. cattle producers to expand or start their herd. R-CALF continues to argue that because beef from these imported cattle can be sold as a “Product of USA,” multinational beef packers “wallow in higher profits” because they can import lower-cost cattle into the U.S. market. The organization claims that Since NAFTA, the U.S. imports on average 1.1 million Mexican cattle each year, and since U.S. domestic cattle shrank by 6.5 million.

Vegetarian Food Company Sues Missouri over New Law

A vegetarian food company is challenging a new law in Missouri regarding meat labeling. The law, taking effect next week, prohibits food manufacturers from using the word “meat” on products made without animal flesh, and will make Missouri the first state to regulate meat labeling. However, Tofurky, the manufacturer of vegetarian products labeled as hot dogs, burgers and others, is challenging the law in court. The Oregon-based company contends that the provision barring food producers from “misrepresenting” their products as meat – as in calling them sausage and hot dogs – if they are not made from livestock or poultry is too vague, according to meat industry publication Meatingplace. Missouri lawmakers passed the law earlier this year, and it was signed by now-former governor Eric Greitens. Missouri Attorney General Josh Hawley is expected to defend the law in the wake of the Tofurky lawsuit.

Top Ag Lawmakers Meet Ahead of Farm Bill Conference

The top lawmakers on the farm bill conference committee met this week, ahead of the first formal meeting next week. The farm bill conference is set to meet September 5th, in the first public meeting likely dominated by posturing and speeches. Senate Agriculture Committee Chairman Pat Roberts told Politico that he, Senate Agriculture ranking member Debbie Stabenow, House Agriculture Committee Chairman Michael Conaway ranking member Collin Peterson, had made “real progress” during the meeting, but did not get into specifics. Roberts is hopeful to submit a conference report to the committee, if ready at the time. Much of the work on the farm bill is ongoing at the staff level, and that’s expected to continue. The committee faces the task of merging the two versions of the bills, including the controversial Supplemental Nutrition Assistance Program work requirements.

Wednesday’s Closing Grain Bids

August 29th, 2018

 

St Joseph

 

Yellow Corn

3.22 – 3.28

White Corn

3.28

Soybeans

7.56 – 7.70

LifeLine Foods

 3.36

 

 

Atchison

Yellow Corn

 3.36

Soybeans

 7.66

Hard Wheat

 4.89

Soft Wheat

 4.65

 

 

Kansas City Truck Bids

 

Yellow Corn

3.26 – 3.31

White Corn

no bid

Soybeans

7.91

Hard Wheat

5.50

Soft Wheat

 5.31

Sorghum

5.38 – 5.47


USDA Cash Grain Prices

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

Copyright Eagle Radio | FCC Public Files | EEO Public File