Agribusiness Update for Wednesday 3/6/13

Agribusiness Update for Wednesday 3/6/13

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

The CME Group has announced another revision to its electronic grain trading hours. Overnight trade will run from 7 p.m. Central to 7:45 a.m. Day trade will resume at 8:30 a.m. and run until 1:15 p.m. USDA had said in the past they wouldn’t change if the market hours were revised. Pending CFTC approval - the new hours will begin on April 8th.

Agriculture Secretary Tom Vilsack testified before the House Agriculture Committee yesterday at a hearing to review the state of the rural economy. Vilsack believes the ag economy is strong and that the strength of American agriculture is driving further economic opportunity across rural America.America’s rural economy is tied closely to the success of America’s farmers and ranchers - and Vilsack says USDA has worked to provide a strong safety net for producers while expanding markets for U.S. products.

The United Fresh Foundation has launched its 2013 compensation survey for the fresh produce industry. The data collected will be published in an expansive research report that will assist produce industry employers in understanding critical compensation benchmarks.

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

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