Ag in the News

01/07/2008

National and International

EU Ambassador accuses U.S. of double standard on beef trade
The United States has a double standard when it comes to beef trade rules around bovine spongiform encephalopathy (BSE), according to Ambassador John Bruton, Head of the EU Commission Delegation to the United States. More!

Brazilian team headed to Europe to fight beef restrictions
Brazil is beginning the New Year with a resolution to renegotiate with the European Union following its decision last month to place new restrictions on Brazilian beef imports effective Jan. 31. MORE!

Tyson names new consumer products VP — again
Springdale, Ark.-based Tyson Foods Inc. on Friday appointed Donnie Smith group vice president of consumer products, the third person to hold the post in less than two years. MORE!

Portion size, functional foods among hot health trends in 2008: IDDBA
Consumers are more aware of nutrition than ever before, according to the International Dairy-Deli-Bakery Association's What's In Store 2008 report, but they're looking to the food industry to help them achieve their nutritional goals. MORE!

NPFDA honors 2008 Poultry Industry Lifetime Achievement Award recipient
The National Poultry & Food Distributors Association announced the selection of Doug Carnes, formerly the vice president of operations for Mar-Jac Poultry Inc., as its recipient for the 2008 Poultry Industry Achievement Award. MORE!

Wal-Mart names new grocery merchandise executive By Janie Gabbett on 1/7/2008 for Meatingplace.com Wal-Mart Stores, Inc. has named former Safeway executive Jack Sinclair its executive vice president of grocery merchandise for Wal-Mart's U.S. operations, effective January 7. MORE!

Renewable energy conference agenda announced
The agenda for the Washington International Renewable Energy Conference (WIREC 2008), scheduled to be held at the Washington Convention Center March 4-6, is now available on the event's Web site. MORE!

Wrap Up

First full week of the year. The overnight a/c/e tone was mixed to weaker for grains as we open the first full week of trading for 2008. Corn and Chicago wheat futures were narrowly mixed, while soybean futures were steady to fractionally lower in overnight trade.

India and wheat. With favorable weather in February and March, India should be able to meet its production target for wheat this year, according to reports out of the country. Wheat area has increased compared to last year and ag officials say that if temperatures do not stress the crop in February and March, they should mean production of 75 to 75.5 MMT.

Ethanol company stocks. Reuters notes that stocks in ethanol companies have rise smartly since last fall. They note VeraSun Energy shares jumped 62 percent since lows this fall, U.S. BioEnergy Corp shares were up nearly 97 percent, Pacific Ethanol Inc shares were up nearly 107 percent, and Aventine Renewable Holdings shares were up nearly 67 percent.

Big end-of-week reports. The batch of data out from USDA on Friday morning will certainly be key to how markets wrap up the week. With the Annual Production Summary, Supply & Demand, Winter Wheat Seedings and Quarterly Grain Stocks figures out that morning, traders will have plenty to focus on as January continues. Pro Farmer's Chip Flory has his perspective on this big batch of USDA data in his Chore Time column.