Agribusiness Update For Wednesday 1/30/13

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

Two member so the Senate Ag Committee have announced plans to not seek re-election. Iowa Democrat Tom Harkin cited his age, 73, and a promise to his wife to retire while they are still in good health. Georgia Republican Saxby Chambliss - however - emphasized his frustration with life in Washington.

Members of the beef community are applauding the news that Japan will now begin accepting beef exports from cattle under 30 months of age. The restriction had been under 20 months due to a BSE case found back in 2003 in Washington State. It’s estimated the changes will result in hundreds of millions of dollars in exports of U.S. beef to Japan in the coming years.

The World Trade Organization is in the process of finding a new Director-General. The current Director-General is Pascal Lamy and his term ends in August. Nine candidates have been nominated by their respective governments to succeed Lamy. The WTO is still working on moving global trade forward through the Doha Round of negotiations.

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