Senate could consider farm bill as soon as Tuesday
Members of the Senate aren't likely to get much of a break from agriculture issues. Aides say debate on a new version of a farm bill could begin as soon as Tuesday.
The Senate's agriculture committee already has recommended passage of a bill that increases the amount of federal funding provided for farmers and agriculture-related programs during the next five years.
Sen. Tom Harkin, D-Iowa, has said final approval by the full Senate would come following the Thanksgiving holiday break and the Des Moines Register reported Friday Harkin is anxious to get the full Senate to approve the bill drafted by his committee.
If debate were to start Tuesday, it would likely mean final approval by the Senate could come next week.
But that would not be the end of the issue. The House previously approved a farm bill that differs from the measure the Senate is considering.
The Senate's version calls for an extra $1.5 billion in spending for commodity programs, particularly to help farmers in times when crop prices fall.
It also includes provisions meant to increase the amount of money for conservation and environmental programs, although that amount is less than the money originally suggested by Harkin and his allies.
To that end, Sen. Patrick Leahy, D-Vt., is expected to propose an amendment to the bill to increase conservation money even more and ensure all 50 states receive an equal share.
A conference committee will have to resolve the differences and some agriculture-related interest groups say they hope Congress will approve a farm bill before year's end to guarantee farmers will not lose any government assistance.
But some Republican lawmakers, including President Bush, have said they would prefer not to have a bill approved until some time next year when it will be clear how much money will be available after paying for national security measures considered necessary following the Sept. 11 attacks on New York and Washington.
In a related measure, National Milk Producers Federation President Jerry Kozak told a gathering of his group in Orlando, Fla., provisions in the House version of the farm bill that provide for a compact for dairy farmers is a direct result of his group's efforts last year to cooperate with politicians.
Cuba to buy food from U.S. firms
A third U.S.-based company has reached agreement to sell food to Cuba to help the Caribbean nation cope with the wreckage of Hurricane Michelle.
Cargill Inc. of Minnetonka, Minn., will sell corn, wheat and soybean oil to Cuba. Earlier this week, Archer Daniels Midland Co. and Riceland Foods Inc. reached similar agreements to provide food-related items to Cuba.
The Wall Street Journal reported the three deals are estimated to be worth about $25 million.
They would be the first shipment of food to Cuba since the U.S. sanctions law was amended last year.
Restrictions against doing business with Cuba have been in place for four decades as part of an attempt to pressure the Communist government of Fidel Castro.
A fourth company, ConAgra Foods Inc., also is negotiating a deal to send food to Cuba although an agreement has not yet been reached.
Companies win favorable opinions in Monsanto lawsuit
Delta and Pine Land Co. recently received favorable legal opinions from a circuit court in Mississippi in their lawsuit against Monsanto Co. and Pharmacia Corp.
The companies are leading commercial breeders, producers and marketers of cotton planting seed, and their lawsuits claim that Monsanto and Pharmacia breached their deal to provide best efforts and commercially reasonable efforts to complete their merger.
A Bolivar County judge issued the favorable opinions Nov. 15 and also denied a Monsanto motion to dismiss the lawsuits altogether. Monsanto had claimed the companies could not prove damages to themselves.
But the court found this month there were material issues of fact that should be put to trial in front of a jury concerning the "existence or value of the lost business opportunities or the lost benefits of the merger."
Dryness spreads across Plains, upper Midwest
The National Oceanic and Atmospheric Administration said Friday dry weather conditions are spreading across the Plains states and the upper Midwest.
The administration's Drought Monitor said that drought-like conditions cover much of the western Corn Belt and have spread across the Plains and into parts of Kansas.
But abnormal dryness was "erased" across parts of central Texas and varying degrees of drought were reduced in Texas, New Mexico and Oklahoma.
But an expansion of abnormal dryness and moderate drought was found in northeastern Arkansas.
Ag ID program should be mandatory
The United States should put into effect an agriculture identification program but it should be kept simple -- and it should be mandatory, the Animal Health Association and the Food and Drug Administration say.
"We started with the idea this would be a voluntary system," says Wisconsin state veterinarian Clarance Siroky.
"We were a little surprised by the strong feeling among producers that any ag product identification system had to be mandatory."
"We heard that if food safety and disease control were the goals of an ID system, we had to reach the highest risk producers. And those would be exactly the producers who would not voluntarily participate in the system, farmers told us."
(by E.W. Kieckhefer)
Grains mixed on CBOT
Grains futures were mixed at the close of a shortened day Friday on the Chicago Board of Trade.
Soybean futures were on a combination of commitment data and spillover from soyoil sales, which posted strong gains.
Corn futures were down on the Agriculture Department's weekly export sales figures falling to the low end of estimates.
Wheat futures were up due to a higher-than-expected export sales figure and concerns over dry conditions in part of the U.S. winter wheat belt and in China.
Oats futures were down.
The prices:
Soybeans: Jan 4.51 1/4 up 1 1/4, Mar 4.54 1/4 up 1 1/2, May 4.58 1/2 up 1 3/4, Jul 4.63 1/2 up 2 1/4.
Corn: Dec 2.08 1/4 off 1/2, Mar 2.20 1/4 off 1/4, May 2.27 1/2 off 1/4, Jul 2.33 3/4 off 1/4.
Wheat: Dec 2.89 up 2, Mar 2.96 1/4 up 3/4, May 2.97 3/4 up 1 1/4, Jul 2.99 up 1/4.
Oats: Dec 2.10 off 1 3/4, Mar 1.99 1/2 off 1/4, May 1.89 off 3/4, Jul 1.71 3/4 off 1/2.
