Werner Baumann, Bayer Chief Executive Officer, tried to soothe the frayed nerves of investors after a recent jury award of $289 million during a trial regarding glyphosate. Baumann says the merger between Bayer and Monsanto still makes sense in spite of the challenges ahead. Baumann told a German newspaper that there is “no reason to break out in nervousness” in …
Memphis Meats, NAMI Want Joint Regulation of Cell-Based Meat
The North American Meat Institute (NAMI) joined up with Memphis Meats, a San Francisco-based company that’s developing cell-based meat to send a letter to the Trump Administration. The Hagstrom Report says they’re asking that the Food and Drug Administration and the Ag Department’s Food Safety and Inspection Service share regulatory responsibilities for cell-based meat. The letter says in the case …
Three More States Enter WOTUS Court Battle
Texas, Louisiana, and Mississippi are asking a federal court to expedite its consideration of a nationwide injunction against the 2015 Waters of the U.S. (WOTUS) Rule. A DTN report says a South Carolina court recently issued a ruling that allows the rule to go back into effect in 26 states. Texas Attorney General Ken Paxton filed a motion in the …
Russia Selling 2.5 Million Acres to China for Soybean Production
Soybeans were one of the first major casualties in the ever-escalating trade war between the U.S. and China. Russia is hoping to take advantage of the situation and cut deals with Chinese agribusinesses to make up for lost supply. The Washington Post says the Kremlin will offer roughly 2.5 million acres of arable land to foreign investors. Analysts are describing …
Florida’s Algae Blooms and Red Tide: Consider the Facts
The algae and red tide blooming along Florida’s coastal waterways are concerning to everyone, including those of us in agriculture. It is understandable that many Floridians are upset and are anxious for answers, but misinformation is being circulated by anti-farmer activists that erroneously points to farmers in the Everglades Agricultural Area (EAA), south of Lake Okeechobee, as the cause of …
USDA Payments Expected After Labor Day
The Department of Agriculture (USDA) expects to send payments to farmers after the Labor Day holiday as part of a trade relief package. The $12 billion package is intended for farmers who have been affected by foreign tariffs on U.S. farm products, all in retaliation to President Trump’s trade agenda. A USDA spokesperson confirmed to the Hagstrom Report the department …
Canada Next for NAFTA
A trade official from Mexico is hopeful to bring Canada back into the North American Free Trade Agreement talks to reach a three-way agreement, as early as next week. The comments come as the U.S. and Mexico were close to a “handshake” agreement Thursday, helping calm some anxieties for agriculture amidst the global trade turmoil. Politico reports that the top …
China, U.S. Trade War Deepens with More Tariffs
The U.S. and China began rolling out more tariffs against each other this week as part of the tit-for-tat trade war between the two nations. The U.S. will collect an additional 25 percent in duties on Chinese imports ranging from motorcycles to steam turbines and railway cars, and the Chinese retaliation will see a similarly sized tax on items including …
8,000 Glyphosate Lawsuits Await Bayer
The California verdict against Monsanto has opened the door for what is estimated as 8,000 lawsuits against Monsanto, now being absorbed by Bayer. On a call with analysts and reporters, Bayer CEO Werner Baumann said the number of plaintiffs in both state and federal litigation was approximately 8,000 as of the end of July. Bayer acquired Monsanto in June and …
Brazil to Plant Record Soy Crop for 2018/19
Farmers from Brazil are expected to plant another record soybean crop. This would be the 12th consecutive year that Brazil plants a record land area of soybeans, amid strong demand from Asia. Reuters reports that Brazil is likely to expand the area to a record 36.28 million hectares, the equivalent to 89.65 million acres, this season, which farmers will start …