Agribusiness Update for Tuesday 7/9/13

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

Congress is getting back to work this week and Oregon Congressman Greg Walden says they hope to get busy on the immigration deal now that the Senate has passed their version. He also hopes to see work done on the FDA’s “one-size-fits-all” regulations that is causing concern for many NW ag producers including onion growers.

South Korea has lifted the ban on imports of U.S. wheat after the local food safety regulator found no unapproved genetically-modified grain in recent shipments. The Korea FDA says expanded inspections of 45 samples of wheat and flour imported from Oregon and another 160 samples from other states showed all were free of the unapproved genetically-modified wheat strain discovered at a farm in Oregon.

With the failure of the U.S. House to pass a farm bill - dairy farmers are once again getting a bit nervous. If Congress doesn’t act and the current nine-month extension of the 2008 Farm Bill expires - farm programs will revert to 1949 law. That measure sets a much higher price for government purchases of cheese, butter and other dairy products than the country has seen in decades.

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