Ag in the News

01/23/2008

National and International

Russia raises 2008 quotas for U.S. beef, pork and poultry
Russia has raised its quotas for U.S. poultry, pork and frozen beef imports for 2008, according to Interfax News Agency. MORE!

Former ConAgra food safety exec clarifies dismissal
Former ConAgra Vice President of Global Food Safety Paul Hall says he was terminated earlier this month because he accepted a seat on the board of a company that ConAgra viewed as a conflict of interest. MORE!

Tyson makes a truly human donation to non-profit
Tyson Foods Inc. took an unusual step in the fight against poverty, loaning one of its executives to New York's Millennium Promise for a six-month corporate service fellowship. MORE!

NYC to require restaurant chains to display calories
The New York City Board of Health voted to require restaurant chains operating in the city to prominently display calorie information on their menus and menu boards effective March 31. MORE!

Hot Brown, turkey soup among top recipes of 2007 on EatTurkey.com
The National Turkey Federation announced the top five most-viewed foodservice recipes of 2007 from its recipe database at EatTurkey.com. MORE!

Wrap Up

Mixed overnight action. Corn futures were 2 to 5 cents lower on followthrough selling overnight. Soybean futures ended mixed, with old-crop contracts fractionally to 1 cent higher, while November beans were around 2 cents lower. Chicago wheat futures were mostly 3 to 4 cents higher overnight.

Asian stock markets mostly recover. Following two days of steep declines, many global stock markets posted recoveries in overnight action. Hong Kong's stock index closed up nearly 11% while markets in Japan, Indonesia, Philippines, China and Australia rose by 2% to 7%. Some losses were still seen in Vietnam, Taiwan and Thailand.

Stimulus talk picks up. Work continues in Washington on an economic stimulus package and lawmakers realize they need to act quickly if things like tax rebate checks are to reach consumers relatively soon. It will still take some time, however, that to happen if it is a part of the package: After President Bush signed the last such rebate into law in 2001, it took 6 1/2 weeks for the first checks to be mailed.

ConAgra out of ethanol plant. ConAgra has announced it will withdraw its application for an ethanol plant planned for Clovis, New Mexico. The firm cited "increased costs" associated with the project. For now, it appears the firm will stick with trading, merchandising and distributing agricultural and energy commodities, according to today's Omaha World-Herald.