94% of U.S. corn, 73% of soybeans planted

Top Story

The end is in sight, nationally, for corn planting. As of Sunday, the USDA says 94% of corn is planted, compared to the five year average of 92%. Iowa, Minnesota, and Missouri are all 99% complete. 78% of the crop has emerged, compared to 75% on average. In the first rating of the season, 72%… Read more »

Maschhoffs takes ‘swift action’ to address concerns

Top Story

Officials of The Maschhoffs say they have taken swift action to address animal abuse concerns raised by an undercover video recorded at one of its sow farms in Nebraska. In a news release provided to Brownfield on Friday afternoon, the company listed several actions that have been taken: *The farm manager at the sow farm in… Read more »

Hearing witnesses discuss cattle futures volatility

Top Story

Concerns over extreme volatility in the cattle futures markets were discussed at a Senate Agriculture Committee hearing in Washington. Montana rancher, cattle feeder and auctioneer Joe Goggins, testifying on behalf of the U.S. Cattlemen’s Association, said the futures market volatility is deterring cattlemen from using the markets because of the risk of losing capital. “These… Read more »

Old crop corn, soybean exports top estimates

Top Story

The USDA reports grain and oilseed export sales for the week ending May 19th were generally within pre-report estimates. Old crop sales of corn, soybeans, and soybean meal did top projections. Wheat sales were a net reduction of 9,900 tons (-400,000 bushels), down sharply from both the week ending May 12th and the four week… Read more »

Livestock leaders criticize ‘GIPSA rule’; USDA responds

Top Story

Efforts by the USDA to implement the so-called “GIPSA rule” drew criticism from livestock industry leaders this week at a House Agriculture subcommittee hearing. Kansas rancher and cattle feeder Tracy Brunner, president of the National Cattlemen’s Beef Association, says they’re concerned the rule will make USDA “the ultimate arbiter of how cattle are marketed”. “Our… Read more »

Monsanto rejects Bayer’s offer

Top Story

Monsanto has rejected Bayer’s 62 billion dollar acquisition bid and might seek a higher price. In a statement, Monsanto said the offer was “incomplete and financially inadequate” but said it is open to “continued and constructive conversations” with Bayer to assess whether a transaction would be in the best interest of Monsanto shareholders. Monsanto chairman and CEO… Read more »

Report: Monsanto will reject Bayer’s bid

Top Story

According to a report by the Reuters news agency, Monsanto has decided to reject Bayer’s 62 billion dollar acquisition bid and will seek a higher price. Reuters cites sources who say Monsanto officials believe shareholders deserve a better offer and are confident of their “standalone plan” if the deal fails to materialize. Brownfield’s request for… Read more »

Bayer says it offered $62-B for Monsanto

Top Story

Bayer says it has offered $62 Billion to buy Monsanto.  Bayer went public this morning, saying it made the all-cash offer on May 10th. The deal represents $122 per share – a 37% premium over Monsanto’s closing price on May 9th. The unsolicited offer from the German company occurred three weeks after Bayer’s new CEO… Read more »

Ag banks say they can’t compete

Top Story

When times get tough, ag bankers say they can’t compete with the Farm Credit System. During Thursday’s Senate Ag Committee hearing on the farm credit system, Gus Barker, president of an Iowa community bank, testified on behalf of Independent Community Bankers of America.  “I cannot compete with the Farm Credit Services, they have a funding structure… Read more »

FDA approves new food nutrition labels

Top Story

The Food and Drug Administration has approved updates to food nutrition labels that make changes to sugar and fat, among other things. The new labels must show how much added sugar is in food products. The Obama administration pushed for that change while the food industry pushed back, saying it would cause confusion among consumers… Read more »