Agribusiness Update for Tuesday 1/29/13

Agribusiness Update for Tuesday 1/29/13

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

House Ag Committee Chairman Frank Lucas says there are a lot of pieces currently up in the air regarding a new farm bill. That includes over-arching issues like the federal debt limit, automatic spending cuts and the new baseline for federal spending that’s due in a few weeks. It all adds up to uncertainty for farm policy - which agricultural leaders in Congress initially hoped to work on quickly in 2013. Lucas doesn’t have a starting date for the House.

United States Trade Representative Ron Kirk and United States Agriculture Secretary Tom Vilsack yesterday announced that the United States and Japan have agreed on new terms and conditions which pave the way for expanded exports of U.S. beef and beef products to Japan. Under these new terms, which enter into effect on February 1, 2013, Japan will now permit the import of beef from cattle less than 30 months of age.

In a mixed decision issued Friday - the D.C. Circuit Court vacated the 2012 cellulosic biofuel standard while affirming the 2012 advanced biofuel standard. Leading organizations representing biofuel producers had intervened in the litigation to defend the rule making.

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

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