U.S. appeals WTO COOL ruling

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The U.S. Trade Representative’s Office says it will appeal a WTO ruling on Country of Origin Labeling. The U.S. implemented COOL for a number of products including beef, pork and lamb in March of 2009. Canada and Mexico filed a complaint saying the rules discriminated against livestock producers in their countries.  A WTO dispute panel… Read more »

Strong week for soybean exports

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  USDA reports corn and soybean export sales for the week ending November 20 were larger than expected, while wheat was near the high end of pre-report estimates. Physical shipments of soybeans and wheat were above what’s needed weekly to meet USDA projections for the 2014/15 marketing year, but corn fell short of its mark…. Read more »

Ethanol production hits all-time high

Ethanol production has hit a new all-time record. During the week of November 21st, ethanol production advanced 1.2 percent to 982-thousand barrels a day.  According to the Renewable Fuels Association, that equates to 15.05 billion gallons on an annualized basis. Despite the increased production, ethanol inventories actually dropped 1.5 percent, reflecting continued good demand for ethanol. Photo… Read more »

Congress wrestles with tax extenders

Congress continues to wrestle with the tax extenders package. Republicans and Democrats are reportedly working on a compromise that would make permanent a few of the tax breaks that expired at the end of 2013 and extend others through 2015. Iowa Senator Chuck Grassley hopes they’ll have it ready for a vote by next week…. Read more »

94% of U.S. corn, 97% of soybeans harvested

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  In what should be the last national crop report for the growing season, USDA says the U.S. corn and soybean harvests are nearly complete. As of Sunday, 94% of the corn crop is harvested, compared to 94% this time last year and the five year average of 92%. 97% of soybeans are harvested, compared… Read more »

EPA abandons RFS rulemaking for 2014

The Environmental Protection Agency says it will not finalize the 2014 Renewable Volume Obligations (RVO) for the Renewable Fuels Standard (RFS) this year. Instead, the agency says it will set the final 2014 volume standard next year, and try to get back on schedule in proposing the 2015 and 2016 blending volumes. Brian Jennings, executive… Read more »

Soybean sales hit marketing year low

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  USDA reports corn and soybean meal sales for the week ending November 13 were larger than expected, while wheat and soybean meal were within the anticipated range and soybeans fell below all estimates. Physical shipments of soybeans were above what’s needed weekly to meet USDA projections for the 2014/15 marketing year, but corn and… Read more »

Farm Credit CFOs anticipate interest rate rise

Short-term interest rates are expected to increase by two to two-and-a-half percent over the next three years. That’s according to poll of chief financial officers (CFOs) for Farm Credit Associations located in America’s heartland. Brian O’Keane is the CFO of AgriBank, which conducted the survey. He says it reflects the consensus of many economists that… Read more »

Conaway to chair House Ag Committee

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As expected, Texas Congressman Michael Conaway will be the chair of the House Agriculture Committee when 114th Congress takes office in January.  In a statement, the Texas Republican said: “I represent, and love, rural America. It’s the backbone of our country.  The values and concepts that make America great are stored in rural America, and… Read more »

Smith: “Bad timing” on Corps work

Missouri Congressman Jason Smith says it’s bad timing for the Corps of Engineers to close down part of the lower Mississippi River for repairs. “We’re facing one of the largest harvests on record and by closing that line of the Mississippi River with barge traffic – it’s devastating to all of our farmers and just… Read more »