Wheat Futures Volatile and AM Radio in Every Vehicle Act Up for Vote
From the Western Ag Network, I’m Bob Larson with your Agribusiness Update.
**Wheat futures remain volatile as traders weigh continued disruptions to Black Sea grain exports against diplomatic efforts aimed at ending the Russia-Ukraine war.
The most-active contract traded around $7.39 a bushel after reaching a 3½-year high of $7.95 last week.
Wheat prices had climbed following reports of a Ukrainian strike on a Russian port, renewing concerns about disruptions to one of the world's most important grain-export regions.
**More than 170 farmers from 13 states gathered Friday for a “Fed Up” fertilizer hearing, pressing federal officials over rising fertilizer costs and concerns about market competition.
The hearing focused on major fertilizer companies like Mosaic, Nutrien, CF Industries, and Koch.
Organizers say fertilizer prices have doubled, and at times tripled, since 2020, while fertilizer companies have generated more than $20 billion in profits for shareholders over the past five years.
**A bill requiring AM radio in new vehicles is headed for a House vote, potentially giving broadcasters a step toward preserving AM access in vehicles.
House Majority Leader Steve Scalise has scheduled the AM Radio for Every Vehicle Act for a standalone vote sometime this week.
The legislation would direct the DOT to issue rules requiring AM receivers as standard equipment in vehicles sold in the U.S., without added costs to buyers.
