Agribusiness Update for Thursday 08/28/14

Agribusiness Update for Thursday 08/28/14

This is the Agribusiness Update...I'm Greg Martin...

The National Farmers Union's President is urging the Obama Administration to act quickly on the Renewable Fuels Standard.  The rule is currently pending review by the White House Management and Budget office.  NFU President Roger Johnson says biofuels are a critical component of this nation's energy portfolio.  He said the RFS decreases "our dependence on foreign oil imports while also giving a shot in the arm to family farms and the larger rural economies they support."  The RFS has created $184.5 billion for the economy while supporting 852,056 jobs nationwide, according to the National Farmers Union.

A new four-year collective bargaining agreement has been signed with grain handlers in the Pacific Northwest. The International Longshore and Warehouse Union ratified the contract with three large grain exporters: Louis Dreyfus Commodities, United Grain Corporation and Columbia Grain. Specifics on the contract have not been released, but the ILWU said wage increases and work rule changes were negotiated into the 45-month agreement.

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

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