Ag in the News

10/17/2007

National and International

Montana delegation promotes U.S. beef in Japan
A trade delegation led by the Montana Department of Agriculture on Tuesday began a week-long tour of Japan to promote U.S. beef and bone up on Tokyo's meat safety inspection protocols. MORE!

North Dakota ag leader refutes campaign against state-inspected meat
Roger Johnson, North Dakota's agriculture commissioner and president of the National Association of State Departments of Agriculture, said print and radio ads calling state-inspected meat a health hazard to consumers are false. MORE!

U.S. Foodservice to expand
Foodservice distributor U.S. Foodservice has announced plans to invest $100 million in expanding its operations, including the construction of a new facility in Utah and major expansions of current facilities in Florida and Minnesota. MORE!

K-State research targets E. coli
A team of researchers at Kansas State University is working on a USDA-funded project to better understand and combat E. coli. MORE!

Au Bon Pain to serve all-natural chicken
Boston-based fast-casual chain Au Bon Pain announced that it will serve all-natural chicken in its salads and sandwiches, while eliminating trans fats entirely from its menu. MORE!

Wrap Up

Corn, wheat head lower in overnight trade. Soybean futures were mostly 2 to 4 cents higher in overnight trade. Corn futures were steady to 2 cents lower, while nearby Chicago wheat futures were 10 to 15 cents lower in overnight trade.

U.S. still pushing Korea on beef trade. On the heels of talks last week which failed to produce an agreement on broadening terms of beef trade with South Korea, U.S. trade officials this week are keeping up their push. U.S. Trade Representative official Wendy Cutler this week in Seoul called for more action by Korea to open its beef market further, noting that was key for support in the U.S. Congress of the U.S.-Korea Free Trade Agreement negotiated earlier this year.

WTO says U.S. hasn't done enough on cotton. A WTO panel says that the U.S. has not done enough to implement changes in its cotton program that were called for as a result of Brazil's challenge of U.S. cotton subsidies via the WTO. U.S. officials counter they have done enough and may well appeal the latest decision.

Oil prices keep surging. Crude oil futures were sharply higher again overnight, marking a new all-time high of nearly $88 per barrel. Crude oil futures are nearing the inflation-adjusted high of 90.46 from 1980. Geopolitical tensions in the Mideast are one key to the surge in oil prices. Check Julianne Johnston's commentary in "From the Bullpen" found on the Pro Farmer page.