Agribusiness Update for Thursday 12/19/13

Agribusiness Update for Thursday 12/19/13

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

The bipartisan budget agreement already approved by the House easily cleared the 60-vote threshold to limit debate Tuesday. With 12 Republicans joining Democrats to cut off a potential filibuster - the vote was 67 to 33. Senate Budget Chair Patty Murray said the bill isn't exactly what she would have written on her own. But she noted it's probably not the bill House Budget Chair Paul Ryan would have written on his own. Murray said it's a compromise.

The EPA has convened a Scientific Advisory Board to conduct a peer review of the Water Body Connectivity Report draft released by the agency in September. The panel is assessing the scientific validity of the report - which the EPA will use as a base for their rule defining waters of the United States. The rule seeks to expand the agency's regulatory authority under the Clean Water Act.

According to the Energy Department - domestic oil production will soar for years to come - scaling to levels not seen in nearly half a century by the year 2016. Domestic oil production is projected to increase by an average of 800-thousand barrels a day annually through 2016 - nearly reaching the 1970 historic high of 9.6-million barrels a day. Experts say this confirms the U.S. is well on its way to achieving virtual energy independence.

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

Previous ReportAgribusiness Update for Wednesday 12/18/13
Next ReportAgribusiness Update for Friday 12/20/13