Agribusiness Update for Tuesday 7-29-2014

Following an announcement by the Chinese import inspection authority last week - the U.S. Grains Council is calling for China to approve the biotech trait MIR 162. The announcement - effective immediately - requires new biotech certification from the point of origin for distiller's dried grains with solubles guaranteeing the shipment is free of MIR 162. For U.S. shipments - that certification would have to come from the U.S. Department of Agriculture. USGC President and CEO Tom Sleight says the certificate the Chinese are asking for doesn't exist.

NASCAR and American Ethanol partnered in 2011 to bring E15 to the sport - and since then - Sunoco Green E15 has fueled every car and truck in all of NASCAR's national race series. This weekend - racers reached the 6-million mile mark of racing on E15. NASCAR CEO Brian France says this renewable fuel stands up to NASCAR's rigorous racing conditions while significantly reducing the impact on the environment. The significance is that the miles mirror the 6-million miles of testing conducted by the U.S. Department of Energy to initially approve E15 for all model year 2001 and newer light duty cars and trucks.

That's today's Agribusiness Update from the Ag Information Network.