No Evidence of GE Wheat In Commerce

With the Agribusiness Update, I'm Susan Allen. In a press release Friday the USDA stated that they have confirmed the discovery by a farmer of 22 genetically engineered (GE) wheat plants growing in an unplanted agricultural field in Washington State. The GE wheat in question is resistant to the herbicide Roundup®. APHIS has taken prompt and thorough action in response to this discovery and has no evidence of GE wheat in commerce. Dan Steiner, grains merchant for Morrow County Grain Growers was quoted as saying the basis, the difference between wheat cash prices and futures prices on the Chicago Board of Trade, dropped July 29 about 15 cents per bushel, primarily out of caution. While it is too early to tell how the market will respond He also believed the market is better prepared for this event than a few years ago, when it first broke in Oregon". The National American Sugar Alliance is meeting this week in coeur d'alene , over 500 people will hear speakers discuss whether the sugar market is poised to rebound and how that will effect the U.S. industry? And Presidential campaign politics and international trade negotiations affect world sugar policies. Finally , The nation's cattle inventory could be on track to grow by nearly 700,000 head by the end of 2016, according to CattleFax Senior Analyst Kevin Good.