Ag in the News

06/30/2008

National

Smithfield divulges Souderton discharge; EPA investigates
Smithfield Foods Inc. earlier this month had another wastewater discharge from its Souderton, Pa. facility — its third this fiscal year — which resulted in a fishkill, according to the company's annual report. The incident has prompted an investigation by the U.S. Environmental Protection Agency. MORE!

FSIS launches food-safety videos in sign language
The U.S. Department of Agriculture's Food Safety and Inspection Service has launched a series of videocasts translated into American Sign Language designed to inform deaf and hard-of-hearing consumers about foodborne illness and raise the level of awareness of the dangers associated with improper handling and undercooking of food. MORE!

Wal-Mart unveils Web site for new small-format grocery stores
Wal-Mart has launched a new Web site for its Marketside stores, small grocery stores it will start to open in the fall that many see as direct competition for Tesco's Fresh & Easy chain. MORE!

Healthy deli take-out meals among opportunities for processors: IDDBA
The healthy food segment holds enormous opportunities for supermarket delis, according to a report to be released by the International Dairy-Deli-Bakery Association this summer. MORE!

Wrap Up

Firmer overnight ahead of USDA data. Corn futures were 2 to 3 cents higher, soybeans mostly 8 to 11 cents higher and Chicago wheat mostly 3 to 4 cents higher in overnight trade. Crude oil also bested $143 per barrel for the first time in overnight action.

USDA data this morning. USDA will release its Acreage and Quarterly Grains Stocks Reports at 7:30 CT this morning. Based on the average pre-report guesses, traders expect corn, soybean, spring wheat and cotton acres to all be down from March intentions. Also, Quarterly Grain Stocks data will be watched for signs of rationing. We'll have details and perspective on the reports shortly after their release this morning.

USDA & the CRP decision. USDA Secretary Ed Schafer said late last week that his department will make a decision "in a couple weeks" on whether to waive the penalty for Conservation Reserve Program (CRP) contract holders to exit their contracts early and bring land back into crop production for the 2009 crop year.

South Korea & beef. South Korea's government has cracked down on protests against the import of U.S. beef, trying to seal off some of the public areas which have been used as gathering points for protests. Some of those confrontations have turned violent, according to reports.