Farmers could suffer 20 percent income drop
If the United States government does not act quickly to approve a new federal farm bill, the American Farm Bureau said farm income could drop between 15 and 20 percent during the upcoming year.
The farm bureau is among a variety of agriculture industry groups that wants Congress to make a priority of passing a new farm bill when members return to action Wednesday.
They cite Agriculture Department studies in showing the significant drop in farm income for the 2002 planting season, unless a new farm bill is approved by Congress and President Bush in the next few weeks.
A farm income report released by the Agriculture Department earlier this month showed that net cash farm income likely would be $51 billion -- down from just under $60 billion in 2001. Those figures were compiled based on government aid payments as dictated by the 1996 farm bill, which expires later this year.
Various versions of a new farm bill that have been considered by Congress all would boost federal farm aid but Democrats and Republicans have been unable to agree on which version of an increase should be approved.
The $9 billion drop, "shows just how imperative it is that we have a new farm bill within weeks, not months," the farm bureau said in a recent analysis.
"Congress' passing a new farm bill for the 2002 crop year, or providing supplemental assistance, is essential to prevent a large drop in farm income," the analysis reads. "If Congress does not act soon, the next farm bill is not likely to take effect until the 2003 crop year."
The House of Representatives already has approved a farm bill, but the Senate is considering its own version. The two sides would eventually have to approve an identical bill, and some say that a compromise could win approval by March.
Once that happens, the matter would then go to Bush for final approval.
People support govt. meat inspection
A new General Accounting Office study contends unsafe meat would wind up being sold to the public if not for government inspectors doing their work at meatpacking plants.
The December GAO report found that an Agriculture Department pilot program meant to reduce the agency's role in meat inspection is not an improvement over traditional inspection systems.
The study contends that the Hazard Analysis Critical Control Point Inspection contains too many design and methodology problems. The experimental program is meant to give the meat-packing industry primary control over ensuring safety, while reducing the need for live inspectors in plants.
Federal officials have said they would like to expand the program to include more plants, so as to reduce the amount of inspectors that are needed by the government.
Officials 'forgot' to kill mad cow-linked bull
British officials forgot to kill a bull identified an offspring of an animal infected with the mad cow disease, which ran rampant across Britain and much of Europe last year.
The London Telegraph reported the Department of the Environment, Food and Rural Affairs identified the bull in August 2001 and told its owner it would have to be put to death as a precautionary measure.
But the owner is still waiting and the government agency admitted the bull was one of 536 offspring of mad cow-infected animals that it failed to keep track of.
Genetically modified crops got more acreage in '01
Acreage planted to genetically modified crops rose 19 percent between 2000 and 2001, according to the International Service for the Acquisition of Agribiotech Applications.
The group works to increase the transfer of biotechnology techniques from industrialized to developing countries. It said about 5.5 million farmers were using the new technique in 2001, with three-quarters of them in developing nations. But the United States is the major producer of genetically modified crops, harvesting 68 percent of the total. Argentina produces 22 percent, Canada 6 percent and China 3 percent.
Chairman Clive James said acceptance of genetically modified crops is vital because "the prevailing opinion in the scientific community is that conventional agriculture will not allow you to double food production by 2050.
(by E.W. Kieckhefer)
Wheat products may fight cancer
A new study claims eating whole wheat products may prevent common forms of cancer.
Officials with Kansas State University and Wichita State University say a chemical component in whole wheat known as orthophenol is responsible because it works as an antioxidant to kill cancer cells. They are most common in whole wheat products and less common in highly processed wheat products.
"In wheat, we found that the orthophenols were very high in the (diets) that killed cancer the best," Kansas State biochemist Dolores Takemoto said.
Grains down on CBOT
Prices were mostly lower at the close Tuesday on the Chicago Board of Trade, largely due to a lack of new information.
Soybeans fell on followthrough selling that began as traders positioned themselves Fridah ahead of the Martin Luther King Jr. holiday.
Corn and wheat futures also suffered from followthrough selling but price drops were held in check by export inspection figures that turned out to be better than expected.
Oats futures were higher, as short-covering activity provided support.
The prices:
Soybeans: Mar 4.39 off 6 1/2, May 4.44 off 5 1/2, Jul 4.48 1/2 off 6 1/4, Aug 4.48 1/4 off 6 1/4.
Corn: Mar 2.09 3/4 off 2, May 2.16 3/4 off 1 3/4, Jul 2.23 1/4 off 2, Sep 2.28 1/2 off 2.
Wheat: Mar 2.95 1/4 off 2 3/4, May 2.97 1/4 off 2, Jul 2.97 off 2 1/4, Sep 3.00 off 2.
Oats: Mar 1.93 up 1, May 1.77 1/2 up 2 1/2, Jul 1.58 up 1, Sep 1.38 unch.
