Energy Sector Sheds Thousands Of Workers

Agri-pulse reports Dairy producers will receive $11.2 million in federal payments because of tightening margins in May and June, but only a small amount of production nationwide will qualify for the payments. The payment rate will be the highest since the Margin Protection Program was created under the 2014 farm bill, according to the Agriculture Department. Payments are triggered when the difference between the price of milk and the cost of feed falls below the coverage level selected by the farmer. The U.S. Wheat Associates is hopeful there will be no business lost and only minor trade delays after a Washington state farmer found 22 unapproved genetically modified plants growing in a field last week, USDA confirmed that Japan and South Korea have suspended new purchases of U.S. wheat after the discovery, but USW spokesman Steve Mercer said Thursday that U.S. farmers likely won't lose any sales. From CNBC Layoffs announced by U.S.-based companies rose for a second-straight month in July to over 45,000, as the energy sector shed thousands of workers