Agribusiness Update for Monday 05/12/14

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

The 2014 farm bill has given USDA new tools, resources and authority to support the rural economy. That’s why USDA is making available 78-million dollars in investments in local and regional food systems. 48-million in loan guarantees are now available through USDA Rural Development’s Business and Industry Guaranteed Loan Program - and 30-million is available through the Agricultural Marketing Service’s Farmers Market and Local Foods Promotion Program.

Election-year politics have complicated President Obama’s trade agenda according to a report- as several Democrats have expressed their unwillingness to move on Trade Promotion Authority. One official says the entire business community is grinding slowly to a halt because it sees the window closing on getting TPA done this year. Without TPA - Japan and other trade partners worry the administration could amend a signed deal due to congressional pressure - which would force a new round of trade talks. U.S. Trade Representative Michael Froman says the best strategy is to present Congress with a comprehensive TPP deal to gain leverage for TPA.

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