Agribusiness Update for Wednesday 10/9/13

Agribusiness Update for Wednesday 10/9/13

This is the Agribusiness Update...I'm Greg Martin...

Based on a letter to House Speaker John Boehner and comments made during a news conference it appears Senate Majority Leader Harry Reid believes the farm bill could be included in a larger budget package. American Farm Bureau Federation's Mary Kay Thatcher was heartened by statements Reid made. She says it appears likely the farm bill may not be able to pass as a stand-alone bill - so the belief that a farm bill can pass by adding it to other bills is good news.

Once again salmonella in chicken is responsible for over 270 illnesses in 18 states. The outbreak is linked to raw chicken products made at three California plants owned by Foster Farms that were distributed mostly to retail outlets in California, Oregon and Washington state. Foster Farms said it was working with authorities to reduce the incidence of Salmonella Heidelberg on raw chicken products. No recall is in effect.

Northwest Farm Credit Services says that expectations of a record U.S. corn crop are impacting the outlook for Northwest agriculture. Falling corn prices are lowering feed costs for cattle and dairy producers. Beef cattle prices rallied, while milk production is expected to increase. Wheat prices are being pressured lower, caught between weaker corn prices and a record-breaking world wheat crop.

That's today's Agribusiness Update from the Ag Information Network.

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