Ag in the News

05/15/2008

National

U.S. poultry could hit EU shelves by October
European Commission officials will reportedly propose lifting the ban on U.S. poultry imports so trade can resume by the fall, according to Reuters. MORE!

Weis Markets goes local with Pa. beef offerings
Weis Markets on Wednesday introduced its new Pennsylvania Proud Choice Angus Beef program, sourcing from Angus producers throughout Pennsylvania. MORE!

House passes farm bill by wide margin
The House of Representatives on Wednesday passed the 2007 farm bill by a 318-to-106 vote, indicating the possibility of enough congressional support to garner the two-thirds majority needed to override a presidential veto. MORE!

Duck franks among new D'Artagnan hot dog products
Newark, N.J.-based D'Artagnan has launched a new line of hot dogs made of natural meat raised on small, sustainable farms that includes varieties featuring duck — which the processor claims is the first of its kind — beef, pork and buffalo. MORE!

Hardee's puts prime rib on latest 'Thickburger' offering
Hardee's announced that it is bucking the value-menu trend currently running rampant at fast food establishments by taking its product line in a different direction and offering up more premium fare — starting with the new Prime Rib Thickburger. MORE!

Wrap Up

Farm bill finish line in Senate. The Senate today is expected to approve the conference report on the farm bill by a wide margin. USDA Secretary Ed Schafer repeated in a statement Wednesday that President Bush will veto the bill, but the House count was well beyond the level needed to override and that should be the case in the Senate too.

Weekly Export Sales today. For the week ended May 8, traders expect: wheat sales from 400,000 to 600,000 MT; corn sales from 400,000 to 700,000 MT; soybean sales from 100,000 to 250,000 MT; meal sales from 50,000 to 150,000 MT; soyoil sales from 5,000 to 10,000 MT; and cotton sales from 200,000 to 300,000 running bales.

Weather outlooks. With all the attention on the slow going this spring relative to corn planting, markets will be watching government weather outlooks out this morning. They cover the June and June-August period and traders will watch to see if those forecasts improve the conditions for the latter portion of corn planting in particular.

Price pressure overnight. Corn futures were mostly 2 to 3 cents lower, soybeans 7 to 13 cents lower and Chicago wheat 1 to 3 cents lower in overnight trade.