Ag in the News

12/04/2007

Local

Fresh & Easy a different kind of store
After 20 years of studying the U.S. grocery consumer, British-based Tesco launches its small-store, fresh-food concept in Arizona this week. And experts say the British retailer's impact on the local market could be significant. MORE

National and International

U.S. and Russia near deal on beef exports
After months of negotiating, the United States and Russia are near a deal on opening that market to U.S. beef products, according to a U.S. official. MORE!

Brazil inks pork trade agreement with China: USMEF
Chinese officials have penned a draft veterinary protocol with Brazil for the export of pork to China, the U.S. Meat Export Federation has announced. MORE!

AMS extends back verification
The Agriculture Marketing Service's Audit, Review and Compliance (ARC) branch announced that it has extended the use of back verification as a means of cattle age verification. MORE!

Researchers use edible whey coatings to fight pathogens
Researchers with the Food Safety Consortium have discovered how to use a whey protein film coating as a vehicle for antimicrobials and control the growth of listeria monocytogenes, salmonella typhimurium and E. coli O157:H7 on ready-to-eat meat products. MORE!

Ham heist: Australian thieves steal Christmas meat
Thieves stole 17.6 tons of ham and bacon from a warehouse in suburban Sydney, Australia, late Saturday, media sources reported. MORE!!

Wrap Up

Mixed to firmer overnight tone. Corn futures were 1 to 3 cents higher, while soybeans were 2 to 4 cents higher overnight. Chicago wheat closed mixed in overnight trade.

Australia crop update. The Australian Bureau of Agricultural and Resource Economics (ABARE) has updated its wheat crop estimate, putting it at 12.7 million metric tons (MMT), up from their prior estimate of 12.1 MMT. Improved yields are behind the slightly higher figure.

Russia may cap wheat exports. Reports out of Russia indicate the country's ag ministry and grain union may propose a total ban on wheat exports once the tally reaches 12.5 MMT. Indications are the 10% export duty has not curtailed exports and the 12.5 MMT export mark may be hit by January.

Argentine woes. Argentina has lengthened the closure of its wheat export registry for an additional 15 days while the country assesses damage to their wheat crop from a series of freeze events. And, the Buenos Aires grain exchange is also noting damage to the country's corn crop from the recent adverse weather.