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Bob Larson Bitcoin in Commodity Trading and SCOTUS on WOTUS
by Bob Larson, click here for bio

Program: The Agribusiness Update
Date: January 26, 2018

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From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**Cryptocurrencies are making inroads into food commodity trading.

According to Prime Shipping Foundation, the company behind the transaction, the first freight deal settled in Bitcoin was executed last month on a vessel carrying wheat from Russia to Turkey.

As reported on Agweb.com, the consignment was part of pilot testing of PSF’s blockchain payment system for bulk commodities.

PSF’s ledger-based digital technology will enable immediate processing of payments and conversion into and out of cryptocurrencies.

The group is also planning to create its own digital currency.


**The U.S. milk cow herd has been expanding at a steady pace since the spring of 2016, but that trend came to an end in late 2017.

According to Agweb.com, December data is not yet available, but the November herd count was unchanged from October, so the first two months of that quarter showed a decline of 6,000 cows from the summer quarter average.

The November milk cow herd was pegged at 9.397 million head by USDA-NASS .


**Current and future court challenges to the “waters of the U.S.” rule MUST be heard in federal district courts, not circuit courts of appeals.

According to Agri-Pulse, that was a unanimous decision Monday by the Supreme Court that could ultimately lead to lawsuits filed all over the country.

The decision sets up a battle in the 6th Circuit Court of Appeals over a nationwide stay of the WOTUS rule that the court issued in 2015.


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