Ag in the News

11/15/2007

National and International

U.S. pork exports set record in September
Bypork and pork variety meat exports set a new record for the month of September, with an 8 percent increase in volume to 101,131 metric tons, and 10 percent growth in value to $251 million compared to last September, the U.S. Meat Export Federation reported. MORE!

Farm bill on slow boat, may not dock until spring
The Senate version of the 2007 farm bill returned to the Senate floor Tuesday after a week of procedural delays that threaten to extend the Senate's work on the bill into next year. MORE!

Canada, S. Korea slated to discuss beef imports next week
Canada and South Korean officials are slated next week to hold working-level discussions on the possible elimination of Seoul's ban on Canadian beef imports. MORE!

McDonald's to roll out new chicken items in 2008
Oak Brook, Ill.-based McDonald's Corp. announced that it will introduce two new chicken sandwiches to its regular and breakfast menus in 2008. MORE!

Colorado senators pony up the beef after betting on World Series
Two Colorado senators shipped 100 pounds of Coleman Beef to homeless veterans in Boston after losing a bet on the outcome of the World Series, in which the Boston Red Sox swept the Colorado Rockies. MORE!

Wrap Up

Corn and beans lower overnight. Corn futures were 3 to 4 cents lower overnight and soybeans were 6 to 8 cents lower. Futures were weaker amid profit-taking following yesterday's strong gains. Wheat futures were mixed, with nearbys firmer amid spreading.

Farm bill update. The Senate's work on a new farm bill remains virtually on hold as the two sides can't agree on the number and scope of amendments that will be allowed as part of the bill. Jim Wiesemeyer takes a look at the status of the farm bill in his Inside Washington Today column found on the Pro Farmer page.

Buffett says no to estate tax repeal. Investor Warren Buffett called on Congress not to eliminate the estate tax, saying it would be a boon to only a handful of rich people. The remarks came during a Senate Finance Committee hearing held to gather input for replacing the shifting rules and uncertainty of the current system. That view certainly won't set well with many in agriculture who have been clamoring for such a move.

No Weekly Export Sales data today. Markets will have to wait an extra day this week for the weekly update on sales of U.S. commodities to overseas customers. The report will be out Friday morning at 7:30 am CT, delayed one day by the Monday holiday.