Agribusiness Update for Wednesday 06/24/15

Agribusiness Update for Wednesday 06/24/15

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

Scores of corn growers from more than a dozen states will converge in Kansas City, Kansas, tomorrow. The EPA is holding a public hearing on its proposal to cut nearly four billion gallons of corn ethanol from the Renewable Fuels Standard through 2016, according to the National Corn Growers Association. NCGA President Chip Bowling said for farmers and others in rural America, this new EPA proposal means low corn prices and ethanol plant and industry cutbacks. NCGA is also hosting a rally nearby the conference center where the hearing will take place. It will include business and political leaders speaking in favor of the RFS.

The Supreme Court ruled on Monday that the government can't force raisin farmers to give up part of their annual crop for less than it's worth, a victory for conservative groups that hailed the decision as a win for private property rights.The justices ruled 8-1 that a1940s-era program born out of the Great Depression is unconstitutional because it allows federal officials to seize personal property from farmers without fully compensating them, even though the goal is to benefit farmers by stabilizing market prices.

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

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