Friday November 16 Ag News

NDA ENCOURAGES PRODUCERS AND FEED MANUFACTURERS TO BE MINDFUL OF MYCOTOXIN LEVELS IN GRAIN

The Nebraska Department of Agriculture (NDA) is encouraging producers and feed manufacturers to be mindful of mycotoxin levels in corn being fed to livestock this winter. Mycotoxins are naturally occurring mold fungi that affects corn.

“Summer drought coupled with wet harvest conditions creates a high risk for mycotoxin’s to grow,” said NDA Director Steve Wellman. “Fortunately, we have not seen alarming concentrations of mycotoxins in Nebraska like our neighboring states, but it is important for producers to remain vigilant to help protect the safety and wellbeing of their livestock herds.”

NDA Animal and Plant Health inspectors collect corn samples at grain elevators across the state each year during harvest. The NDA laboratory tests the samples for mycotoxins, including Aflatoxin and Fumonisin, as part of a collaborative effort between NDA and the Food and Drug Administration (FDA).

Test results showed no detectable levels of Aflatoxin, but did indicate an increased presence of Fumonisin in several of the samples.

Livestock fed feedstuffs with a high enough concentration of Fumonisin can cause harm or even death. The most susceptible animals include horses, rabbits and swine. Cattle and poultry seem to have a higher tolerance for Fumonisin. The FDA has established safe feeding recommendations for grains containing significant levels of Fumonisin, those recommendations can be found here: https://tinyurl.com/ybdj2z7l.



2018 NeCGA Annual Meeting
The Nebraska Corn Growers Association 2018 Annual Meeting will take place on Wednesday, December 19, 2018, at Nebraska’s Innovation Campus in Lincoln. The annual meeting is a time for grower members to come together and discuss the policy that will direct the association for the coming year. All local association president’s and NeCGA board members have received a hard copy of the 2018 resolutions, along with proposed resolutions forms, delegate forms, and other pertinent information. If you have any questions regarding the annual meeting, please reach out to the office, the local association president, or state board representative. Following the business portion of the meeting, NeCGA will join together with the Nebraska Soybean Association for lunch and to hear from the featured speaker.

This year we are excited to welcome Eric Snodgrass. Eric Snodgrass is the Director of Undergraduate Studies for the Department of Atmospheric Sciences at the University of Illinois at Urbana-Champaign. Each year, he guides over 1800 students through the wild side of weather in ATMS 120: Severe and Hazardous Weather. He teaches advanced courses on General Physical Meteorology (ATMS 201), Meteorological Instrumentation (ATMS 315), Economics of Weather (ATMS 491) and supervises numerous Capstone Research projects. Snodgrass also teaches ENSU 310: Renewable and Alternative Energy for the Environmental Sustainability Program. He advises all undergraduate majors and minors in atmospheric science (~100 students) and supervises graduate teaching assistants and master’s students. He serves on numerous committees and boards on campus including the Provost’s Teaching Advancement Board (Chair), Student Sustainability Committee and the Provost Task Force on Improving Large Enrollment Courses. Snodgrass’ research initiatives focus on K-12 science education. He has recently been awarded the LAS Teaching Excellence award, the Campus Teaching Excellence Award, and the Campus Teaching Excellent Award in Online and Distance Education. Also, his online version of ATMS 120 was awarded the 2012 “Best Online Course” from the University Professional Continuing Education Association (a national organization).

Snodgrass’ research focuses on weather analysis and forecasting applications to global agriculture production. He presents his research as a featured speaker at over 50 conferences annually. He is the co-founder of Global Weather and Climate Logistics, LLC. which is a private company that provides logistical guidance and solutions to weather sensitive financial institutions. In 2014, his company merged with Agrible Inc., a precision farm management and predictive analytics company, where he is also co-founder and senior atmospheric scientist. In July 2018, Nutrien Ag Solutions acquired Agrible, Inc. He provides weekly weather updates that focus on weather risk in US agriculture. His current research uses machine learning to better understand field-level weather impacts on yields in the US and how to increase confidence in long-range predictions of these impacts.



Green Plains Reports Third Quarter 2018 Financial Results

Omaha-based Green Plains Inc. announced financial results for the third quarter of 2018. Net loss attributable to the company was $12.5 million, or $(0.31) per diluted share, for the third quarter of 2018 compared to net income of $34.4 million, or $0.74 per diluted share, for the same period in 2017. Revenues were $1.0 billion for the third quarter of 2018 compared with $901.2 million for the same period last year.

“I am pleased to say that the portfolio optimization plan we launched six months ago to strengthen our balance sheet and to reposition our assets for growth remains on track,” commented Todd Becker, president and chief executive officer. “We estimate that the cash proceeds from the asset sales, net of fees and taxes, will be approximately $645 million. This will allow the company to pay off the outstanding term loan B balance of $495 million and execute on the other points of our portfolio optimization plan once the sale transactions close.”

“We will be free of term debt on our assets for the first time in the company’s history,” added Becker, “We will continue to focus on enhancing our margin structure for our ethanol production segment by reducing controllable expenses, investing in high-protein feed technology, and focusing our efforts on growing our earnings across our entire business.”

Revenues attributable to the company were $3.0 billion for the nine-month period ended September 30, 2018, compared with $2.7 billion for the same period in 2017. Net loss for the nine-month period ended September 30, 2018, was $37.6 million, or $(0.94) per diluted share, compared with net income of $14.4 million, or $0.48 per diluted share, for the same period in 2017.

“In addition to our food and ingredients segment delivering results in line with our expectations, we were successful in generating a consolidated ethanol crush margin of $32.3 million, or approximately $0.11 per gallon in a challenging third quarter environment. Ethanol exports continue on their record pace of 1.6 billion gallons for 2018 and we believe exports should grow again in 2019,” commented Becker. “The expected approval of E15 next year, along with strong demand for our products worldwide, should start to clear the way for a fundamental improvement in the business going forward. While the current environment remains challenging, our balance sheet has never been stronger due in part to the execution of our portfolio optimization plan and our very strong cash and liquidity position.”

Results of Operations
Green Plains produced 304.8 million gallons of ethanol during the third quarter of 2018, compared with 313.6 million gallons for the same period in 2017. The consolidated ethanol crush margin was $32.3 million, or $0.11 per gallon, for the third quarter of 2018, compared with $47.3 million, or $0.15 per gallon, for the same period in 2017. The consolidated ethanol crush margin is the ethanol production segment’s operating income before depreciation and amortization, which includes corn oil, plus intercompany storage, transportation and other fees, net of related expenses.

Consolidated revenues increased $98.9 million for the third quarter of 2018, compared with the same period in 2017 as a result of the acquisitions of cattle feeding operations in 2018 and 2017, partially offset by a decrease in ethanol production and trading activity.

Operating income decreased $20.1 million and earnings before interest, income taxes, depreciation and amortization (EBITDA) decreased $18.3 million for the third quarter of 2018 compared with the same period last year primarily due to the compression of ethanol production margins. Interest expense decreased $8.5 million for the third quarter of 2018, compared with the same period in 2017, primarily due to higher expense associated with the termination of previous credit facilities during the third quarter of 2017. Income tax benefit was $14.7 million for the third quarter of 2018, compared with $48.8 million for the same period in 2017 due to the company’s recognition of tax benefits related to R&D Credits during the third quarter of 2017 for all open tax years.

GPRE Completes Sale of Three Ethanol Plants to Valero Renewable Fuels
Green Plains Inc. also announced that it completed the previously announced sale of its three ethanol plants to Valero Renewable Fuels Company LLC for $319 million in cash, including net working capital and other adjustments. The transaction includes ethanol plants located in Bluffton, Ind., Lakota, Iowa, and Riga, Mich. which represented approximately 20% of the company’s reported ethanol production capacity.

GPRE Permanent Closes of Hopewell, Va. Ethanol Facility
Green Plains Inc. announced that it is permanently closing its Hopewell, Va. ethanol facility. A significant portion of the 60 million gallon a year capacity plant will be dismantled during the decommissioning process, with most of the equipment being transferred to other Green Plains facilities. The company is also currently determining the best uses for any remaining equipment and the land.



The Ins and Outs of Prepaid Expenses
Austin Duerfeldt - Nebraska Agricultural Systems Economist Extension Educator

We have all witnessed the prepaid December scramble: a farmer running all over town writing checks because a tax preparer just advised that an additional $40,000 in expenses would be beneficial. One stop will be to the chemical company, another stop to the machinery dealer, and then maybe, if more is necessary, there will be a stop at the oil company to contract some fuel. While this is all well and good, we sometimes forget that there are some rules to the prepaid expense game. Here are the things you need to keep in mind before writing that check.

Testing for Availability - There are three tests for prepaid expenses. The first of these tests is easy but gets abused none the less.

Test 1: The expenditure must be an actual purchase; it cannot be a mere deposit to buy in the future.

What this means is you cannot just write a check to the machinery dealer. This test is to determine whether the transaction is a purchase or a deposit. To be an actual purchase, it needs to include several details.

First, it needs to outline the specific quantity of items purchased. I can have prepaid expenses from the chemical company for 30 tons of lime at $X.XX price. I cannot, however, have a prepaid expense of $X.XX to the chemical company that is applied to my account for use later. The best practice here is to secure an invoice that clearly states a definitive quantity, quality, and price for the item purchased. There should also be no right to refund the payment nor substitute for other goods or services.

Test 2: The expenditure must be for a business purpose and not merely to avoid taxes.

The establishment of a prepaid expenditure as a legitimate business purpose in agriculture is straightforward. Here are some examples to keep in mind. If you are prepaying anhydrous so you have the required quantity at the time of application, it fits this test. If you are purchasing seed corn in late fall to take advantage of discounts, that fits this test. If you are contracting fuel due to the expectation of rising costs, that also fits this test. The main point is that when asked about why you purchased this prepaid expense, you have a justified business purpose that drove the decision, not just wanting “to avoid paying taxes.”

Test 3: The expenditure must not result in a material distortion of income.

This test is the most difficult for the purchase to pass as a legitimate prepaid expense. There are six key factors to look at with your tax preparer when working through this test:
-    The relationship between quantity purchased and the projected quantity to be used.
-    The materiality of the expenditure in relation to total income for the year.
-    Customary business practices of the taxpayer in buying supplies and the business purpose for paying in advance.
-    The relationship between the expenditure and past purchases.
-    The time of year in which the expenditure was made.
-    How deductions of prepaid expenditures have affected taxes paid by the farmer in previous years.

Rules and Limitations - In addition to the testing process, there are two rules/limits to keep in mind.

1.  The 50% prepaid expense limit
Under this limit, if your prepaid expenses equal 50% or more of your deductible non-prepaid expenses for the taxable year, the prepaid expenses are only deductible as the purchased items are consumed. In a simplified example, if you had $100,000 in deductible non-prepaid expenses in 2018, you could only deduct $50,000 in prepaid expenses. Any prepaid expenses over $50,000 would need to be expensed in a later tax year when these goods are used or consumed. There are some exceptions to this limit that you can find in IRS Publication 225.

2. Farm Syndicate Rules
These rules were developed to manage investors in limited partnership tax shelters. There are two primary points to review if you are wondering if the IRS considers you a syndicate:
-    Have ownership interests been offered for sale at any time in an offering required to be registered under federal or state securities regulations?
-    Were more than 35% of the losses during any period allocated to limited partners or limited entrepreneurs?

Summary
Prepaid expenses can be a helpful tool for farming and ranching operations.  Hopefully, this article cleared up some gray areas that may have otherwise been a conversation starter during an audit. If you have questions feel free to email me, Austin Duerfeldt, at aduerfeldt2@unl.edu.



Biosecurity Workshop Series Planned for Iowa Pork Producers
The recent spread of African Swine Fever in China has elevated the importance of biosecurity measures in reducing the risk of a domestic or foreign animal disease entering farms. Iowa Pork Industry Center and Iowa State University Extension and Outreach swine specialists have developed a workshop program to provide information and deeper understanding of critical steps necessary in biosecurity and health management for producers, employees, veterinarians and industry partners.

The no-cost workshop “Biosecurity Best Practices for Pork Producers” uses a variety of methods to help attendees learn about, develop and prioritize biosecurity practices. Case studies, demonstration and lecture will guide participants in prioritizing the highest ranking risk events for their own operations, with a focus on employee entry, traffic patterns, bench entries and other measures.

The program is delivered by the swine specialist team of ISU Extension and Outreach professionals in collaboration with Dr. Derald Holtkamp of Iowa State’s department of Veterinary Diagnostic and Production Animal Medicine.

Session topics include diseases of concern, carrying agents, risk event, intervention strategies, prioritizing farm risk, creating a biosecurity culture and Secure Pork Supply. The workshop agenda also includes round table discussions and a demonstration of how disease may pass a clean/dirty line.

Attendance is free, but preregistration is strongly encouraged. For more information or to preregister, contact the specialist listed by the location you wish to attend. See the workshop flyer... https://www.ipic.iastate.edu/events/BiosecurityWorkshops2018.pdf.

Dates and locations include:

Thursday, Dec. 6,  1-3:30 p.m.
ISU Extension and Outreach -- Shelby County
906 Sixth St., Harlan
Contact Dave Stender, dstender@iastate.edu, 712-261-0225

Friday, Dec. 7,  9-11:30 a.m.
ISU Extension and Outreach -- Sioux County
400 N. Central Ave., #700, Orange City
Contact Dave Stender, dstender@iastate.edu, 712-261-0225

Friday, Dec. 7,  1-3:30 p.m.
ISU Extension and Outreach -- Cherokee County
209 Centennial Drive, Cherokee
Contact Dave Stender, dstender@iastate.edu, 712-261-0225

The programs are sponsored by ISU Extension and Outreach, IPIC and the Iowa Pork Producers Association.



Statement from USDA Secretary Perdue and FDA Commissioner Gottlieb on the regulation of cell-cultured food products from cell lines of livestock and poultry

Last month, the U.S. Department of Agriculture and the U.S. Food and Drug Administration held a public meeting to discuss the use of livestock and poultry cell lines to develop cell-cultured food products. At this meeting, stakeholders shared valuable perspectives on the regulation needed to both foster these innovative food products and maintain the highest standards of public health. The public comment period will be extended and will remain open through December 26, 2018.

After several thoughtful discussions between our two Agencies that incorporated this stakeholder feedback, we have concluded that both the USDA and the FDA should jointly oversee the production of cell-cultured food products derived from livestock and poultry. Drawing on the expertise of both USDA and FDA, the Agencies are today announcing agreement on a joint regulatory framework wherein FDA oversees cell collection, cell banks, and cell growth and differentiation. A transition from FDA to USDA oversight will occur during the cell harvest stage. USDA will then oversee the production and labeling of food products derived from the cells of livestock and poultry. And, the Agencies are actively refining the technical details of the framework, including robust collaboration and information sharing between the agencies to allow each to carry out our respective roles.

This regulatory framework will leverage both the FDA’s experience regulating cell-culture technology and living biosystems and the USDA’s expertise in regulating livestock and poultry products for human consumption. USDA and FDA are confident that this regulatory framework can be successfully implemented and assure the safety of these products. Because our agencies have the statutory authority necessary to appropriately regulate cell-cultured food products derived from livestock and poultry the Administration does not believe that legislation on this topic is necessary. 



NCBA on Fake Meat News: "Step in the Right Direction, More Work Remains"

Colin Woodall, Senior Vice President of Government Affairs, today issued the following statement regarding the announced plan regarding how USDA and FDA would regulate lab-produced fake meat:

“This announcement that USDA would have primary jurisdiction over the most important facets of lab-produced fake meat is a step in the right direction, but there is still a lot of work to do on this issue to ensure that real beef producers and consumers are protected and treated fairly. We look forward to continuing our work with the Administration and Congress as this moves forward, and we continue to encourage producers to file official comments with USDA and FDA between now and December 26th.”



NPPC Testifies In Support Of USMCA

Exports of U.S. pork and other American agricultural goods to Canada and Mexico are expected to grow under the new U.S.-Mexico-Canada Agreement, the National Pork Producers Council testified today at a hearing on the trade deal held by the International Trade Commission (ITC).

The Trump administration recently concluded renegotiations with Canada and Mexico on a modernized North American Free Trade Agreement (NAFTA) – now known as the USMCA. As part of the deal’s ratification process, the ITC is providing the president, the U.S. Trade Representative and Congress with independent analysis of and information and support on the agreement.

In addition to maintaining on pork traded in North America the zero-tariff rate that was included in NAFTA, the USMCA has strong sanitary-phytosanitary (SPS) provisions, including ones on plant inspection equivalence and plant auditing, that expand on rules contained in the old agreement and in the World Trade Organization’s SPS Agreement, NPPC pointed out.

“The USMCA will maintain and strengthen our strong economic ties with our North American neighbors,” testified Maria Zieba, NPPC’s director of international trade. “Preserving the North American market is particularly vital to U.S. pork producers, who have been suffering the consequences of retaliatory tariffs,” particularly duties from China and Mexico.

To take advantage of the duty-free access afforded through the USMCA, said Zieba, the 20 percent Mexican tariff on U.S. pork must be lifted, and for that to happen, the United States needs to resolve a dispute over – and rescind the tariff on – Mexican steel and aluminum imports.

Mexico is the No. 2 export market for the U.S. pork industry, which last year shipped more than $1.5 billion of product there. (Canada, which took nearly $793 million of U.S. pork in 2017, is the industry’s No. 4 export market.)

“NPPC calls on Congress to expeditiously pass the USMCA so that U.S. pork and other American farm products can be sent duty-free to America’s two largest export markets and so that U.S. agriculture can continue helping to boost the U.S. economy,” Zieba testified.

TRUMP, EU TRADE COMMISSIONER DISCUSS POTENTIAL TRADE TALKS
EU Trade Commissioner Cecilia Malmström was in Washington, D.C., this week to discuss a potential trade negotiation between the United States and the European Union. President Trump alluded to the need for free and reciprocal trade between the European Union and the United States in a series of tweets this week. One tweet in particular described the barriers that U.S. wine faces entering the EU. NPPC responded to this tweet, pointing to the barriers that U.S. pork faces as well and emphasizing the need for the EU to stop disparaging U.S. agriculture products and to remove unscientific barriers currently hindering U.S. exports to the EU.

Unfortunately, while in Washington, Malmstrom argued that food and agriculture should not be within the scope of U.S.-EU trade talks. The Trump administration, on the other hand, continues to insist that food and agriculture be included in negotiations. NPPC, and presumably other U.S. food and agriculture groups, will oppose the initiation of trade talks that do not include food and agriculture.

As in all prior U.S. free trade agreement negotiations, NPPC’s position is that all tariff and non-tariff barriers on pork must be eliminated. The EU’s reasoning for wanting to exclude food and agriculture from trade talks is blatantly transparent: EU agriculture is inefficient and shielded from competition. The United States produces the safest, highest-quality pork and other foods in the world. While U.S. agriculture runs a global trade surplus, the United States has a significant trade deficit in food and agriculture with the EU. That deficit only can be rectified through comprehensive trade negotiations with the EU that include food and agriculture, resulting in the elimination all tariff and non-tariff barriers to trade.

PENCE MEETS WITH ABE TO DISCUSS U.S.-JAPAN TRADE DEAL
Vice President Mike Pence was in Asia this week to attend meetings on behalf of President Trump with the leaders of several countries. Early in the week, Pence met with Japanese Prime Minister Shinzo Abe to discuss a U.S.-Japan trade agreement, among other things. NPPC strongly supports the initiation of trade talks with Japan and is hopeful that the two nations can quickly reach an agreement.

Time is of the essence for U.S. pork producers as exports to their top international market are imperiled because of the imminent implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Dec. 30 and the likely implementation of the Japan–EU free trade agreement early next year. The CPTPP is an 11-country trade deal that was known as the Trans-Pacific Partnership when it included the United States. U.S. pork’s competitors in Canada, Chile and Mexico, which are part of the CPTPP, will have preferential access to Japan and Vietnam.



Valuable Rancher Recordkeeping Tool from NCBA Available for 2019
A pocket-sized recordkeeping tool from the National Cattlemen’s Beef Association, offered to cattle producers for more than 30 years, is now available for 2019. NCBA’s Redbook helps cattle producers effectively and efficiently record their daily production efforts, helping enhance profitability.
               
The 2019 Redbook has more than 100 pages to record calving activity, herd health, pasture use, cattle inventory, body condition, cattle treatment, AI breeding records and more. It also contains a Producers Guide for Judicious Use of Antimicrobials in Cattle, Beef Quality Assurance Best Practices and proper injection technique information, as well as a calendar and notes section.
               
“The Redbook has become a vital tool for U.S. cattlemen and women in their efforts to detail actions and practices on farms and ranches,” according to Dan Kniffen, a Pennsylvania beef producer. “It’s a way to document both the daily challenges and the positive steps they’re taking to show continuous improvement on their operations. Furthermore, in this age of electronics the paper Redbook is cost-effective and always available, regardless of internet service or access to electricity. It’s a time-proven handheld method for record-keeping.”
               
Redbooks can be purchased for $7.00 each, plus shipping and handling. Customization of the Redbooks is available (for 100 books or more). To order, visit www.beefusa.org, click on “Producers.



Cattlemen, Sheep Producers Urge Senate Action After House Passes Manage our Wolves Act

Today the Public Lands Council (PLC), National Cattlemen’s Beef Association (NCBA), and American Sheep Industry Association (ASI) praised the passage of H.R. 6784, the Manage our Wolves Act. The Act requires the U.S. Fish and Wildlife Service (FWS) to remove the gray wolf from federal protections under the Endangered Species Act (ESA). Similar action was initially proposed by the FWS under the Obama Administration in 2011 and 2012. Prior to today’s vote, PLC, NCBA, and ASI, along with 37 additional livestock and agriculture organizations, sent a letter support for the bill to House leadership. 

“Since 2011, the best scientific and commercial data available has supported removing gray wolves from the List of Threatened and Endangered Species,” said NCBA President Kevin Kester.  “It is encouraging to see the House of Representatives take this important step to make the Endangered Species Act work the way it was intended.”

In addition to requiring the FWS to reissue the Obama-era rules, H.R. 6784 would require further rulemaking to remove ESA protections for gray wolves across the contiguous United States. Current and emerging science continues to find that wolf populations have been fully recovered nationwide. 

“We are pleased this bipartisan effort to remedy a critical issue impacting livestock producers across the country was successful in the House of Representatives,” said ASI President Mike Corn. “We urge the Senate to take quick action on this bill and stand ready to help ensure final passage.”

PLC President Bob Skinner noted that if the ESA process was working as originally intended, species-specific legislation like H.R. 6784 would not be necessary. 

“We are grateful to see a vote on this legislation, but the bill itself speaks to the need to modernize the Endangered Species Act,” said Skinner. “Activists should not be allowed to abuse technicalities in the judicial system to force a relisting – especially when sound science and hard data clearly illustrate that it is time for these wolves to come off the list.” 

Background
H.R. 6784 passed the House of Representatives on a bipartisan basis.

In 2011 and 2012 respectively, The U.S. Fish and Wildlife Service under President Obama issued final rules to remove gray wolves in the Western Great Lakes (76 FR 81666) and Wyoming (77 FR 55530) from federal protection under the Endangered Species Act (ESA).  This decision was informed by the best scientific and commercial data available, but activist litigants used the judicial system to circumvent sound science and restore full ESA protections to these predators.  While listed under the ESA, wolves cannot be properly managed by state wildlife agencies, who best know how to balance healthy ecosystems with the needs of local communities and changing conditions on the ground. 



Commodity Classic Educational Sessions Focus on Bottom-Line Impact

As farmers look to improve their profitability in an unpredictable agricultural environment, the educational sessions at the 2019 Commodity Classic are designed to help farmers make better-informed decisions that can have a powerful impact on their bottom line.

The 2019 Commodity Classic will be held Thursday, February 28 through Saturday, March 2 in Orlando, Fla.

Educational sessions in Orlando will cover a wide range of important topics including soil health, grain marketing, farm policy, cover crops, farm succession planning, nutrient stewardship, weed and herbicide management, rural economic development, soybean cyst nematode (SCN), wheat yields, Blockchain technology, corn residue, weather trends and more.

The 2019 Commodity Classic will offer nearly 50 educational sessions including Learning Centers, Early Risers, What’s New, Mini What’s New and additional presentations on the Main Stage on the trade show floor.   Applicable educational sessions are offered at no extra charge for the days for which an attendee is registered.

“Every educational session is selected by the Commodity Classic Farmer Committee to ensure the content and the presenters provide high-quality, relevant content that matters to today’s growers,” said Wade Cowan, a soybean farmer from Texas and co-chair of the 2019 Commodity Classic.  “In a time of great challenge for agriculture, it’s critical that farmers continue to educate themselves—and there is no better place to do that than Commodity Classic.”

Established in 1996, Commodity Classic is America’s largest farmer-led, farmer-focused agricultural and educational experience.  Commodity Classic is unlike any other agriculture event, featuring a robust schedule of educational sessions, a huge trade show featuring the latest technology, equipment and innovation, top-notch entertainment, inspiring speakers and the opportunity to network with thousands of farmers from across the nation.

Registration and housing for the 2019 Commodity Classic is now open. To register, reserve hotel rooms and sign up for email updates, visit CommodityClassic.com.  Early bird discounts on registration end January 10, 2019.

Commodity Classic is presented annually by the American Soybean Association, National Corn Growers Association, National Association of Wheat Growers, National Sorghum Producers and the Association of Equipment Manufacturers. 



China Outlines Possible Trade Concessions to U.S. Before G20

Chinese officials have outlined a series of potential concessions to the Trump administration for the first time since the summer as they continue to try to resolve a trade war between the world’s two largest economies, according to three people familiar with the discussions.

Bloomberg reports that the commitments for now fall short of the type of major structural reforms that President Donald Trump has been demanding, two of the people said, cautioning that a long road lies ahead in negotiations. One person said that talks are continuing and constructive.

As a result, one of the people said, it raised doubts over how substantive a deal Trump could make with Chinese counterpart Xi Jinping when the two leaders meet later this month on the sidelines of the Group of 20 summit in Buenos Aires.

Most of the document appeared to be a rehash of previous changes already made by Beijing, such as raising equity caps on foreign investment in certain industries, according to one person. It did not contain the sort of commitment to change industrial policies such as Xi’s “Made in China 2025” that Washington has been seeking, according to one person familiar with the discussions.

Two other people familiar with the talks also said the Chinese offer was a sign of what they characterized as constructive discussions between the two sides ahead of the planned G20 meeting between the two leaders.