Grimes passed away at the age of 94 on July 2nd. Grimes attended the University of Missouri
and became an ag extension agent in 1951.
He became a state livestock marketing specialist in 1956 and received a
MS in ag economics in 1965. Upon
retiring from the university in 1985, Grimes became more involved in consulting
work, including the National Pork Producers Council and the National Pork
Board. He was widely respected as the
voice of the hog industry from the 1970's to the early 2000's during a time of
immense change and industry consolidation.
Products, Inc., received a favorable settlement from ABC News in a sudden end
to its landmark defamation trial against ABC.
Announcement of the settlement came on the 18th day of the
trial. The terms of the settlement are
confidential. BPI had sued ABC News and
correspondent Jim Avila for $1.9 billion over a series of reports in March 2012
that repeatedly referred to BPI's lean finely textured beef product as
Trump announced he intends to nominate Kansas native Gregg Doud to be chief
agriculture negotiator, with the rank of ambassador, for the Office of the US
Trade Representative. Doud was a former
Chief Economist for NCBA, and recently has served as president of the Commodity
Markets Council since 2013. Doud grew
up on a farm near Mankato. He has a
bachelor's degree in agriculture and a master's degree in ag economics from
Kansas State University.
Japan-EU Economic Partnership Agreement, signed July 6th, calls for
Europe to lower tariffs on Japanese automobiles in return for Japan lowering
tariffs on European meat and dairy product.
This agreement is of concern to US beef and pork producers because Japan
has been the biggest export market for US beef and the second-biggest export
market for US pork.
The CME Group has increased
wheat margins. Hedge margins increased
$200 per contract on Chicago wheat to $1,400 and $250 per contract on KC wheat
Monsanto reported a quarterly
profit of $843 million, up from $717 million a year ago. Higher soybean plantings in the US boosted
the profit. About 20 million acres in
the US were sown with Monsanto's new soybean varieties that are genetically
engineered to resist a more powerful combination of herbicides.
The EPA announced that corn
blending requirements would be set again at 15 billion gallons for 2018 based
on the Renewable Fuel Standard proposal released on July 5th. The proposal also calls for reduced advanced
biotech blend volumes, including biomass-based biodiesel, of the RFS from 19.28
billion gallons for 19.24 billion gallons.
Trial dates have been set in
seven additional states on class-action lawsuits filed against Syngenta. The Minnesota trial started this past
week. US District Judge John Lungstrom
set a trial date of January 22nd, 2018, for Arkansas and Missouri;
April 4th for Illinois and Nebraska; May 14 for Iowa and South
Dakota and October 8th for Ohio.
The National Biodiesel Board
asked the US Department of Commerce on July 10th to immediately slap
duties on imports of Argentinian biodiesel.
Back in April, the Department of Commerce initiated antidumping and
countervailing duty investigations aimed at biodiesel imports from Argentina
and Indonesia. Since that filing, the
NBB alleges that biodiesel imports from Argentina have increased by 145%.
US Wheat Associates named
Mark Fowler as the new vice-president of overseas operations, following the
transition of Vince Peterson to president on July 1st. Fowler earned a bachelor's degree in Milling
Science and Management from K-State, and later returned to complete a master's
degree in ag economics. Most recently,
Fowler was the president and CEO of Farmer Direct Foods, Inc., a farmer-owned,
flour-milling company in New Cambria.