News

NIOP News Flash: July 14, 2016

Welcome Adam Bernstein!
Adam Bernstein is an Associate with NIOP. In this role, he helps plan the Annual Convention, participates in committee and Board work, maintains the membership database and website, and assembles the Weekly News Flash.

Adam graduated from American University with a degree in government. His background includes multiple roles in government affairs, including work for the Association of the United States Navy, a veterans group where he advocated for active duty, retired, and reserve US Navy personnel, as well as, veterans everywhere. After successfully completing that internship, Adam continued his work in government affairs at the Normandy Group, a government relations firm where he immersed himself in the legislative and regulatory needs of a diverse array of private companies and associations. Now that he has graduated, Adam is excited to take on his next big challenge with NIOP.

 

House Passes GMO Labeling Bill
The bill to create a Federal labeling standard for GMO foods and block states from issuing their own laws was passed by Congress today. The bill, which passed by a 306 to 117 vote, directs USDA to create a national labeling standard that allows food companies to choose how they want to disclose the presence of genetically modified ingredients. Under the legislation, manufacturers will be able to use text, symbols or a QR code that consumers must scan with a smartphone to relay the information. The Hill

 

WASDE: Soybean Production Estimated at 3.880 Million Bushels
  U.S. oilseed production for 2016/17 is projected at 115.4 million tons, up 2.5 million tons mainly on higher soybean production. Soybean production is projected at 3,880 million bushels, up 80 million due to increased harvested area. Harvested area, forecast at a record 83.0 million acres in the June 30 Acreage report, is 1.6 million above the June forecast. The soybean yield is projected at 46.7 bushels per acre, unchanged from last month. Global oilseed production for 2016/17 is projected at 536.4 million tons, up 2.6 million from last month with U.S. soybean production accounting for most of the change. AgWeb

 

US Feed Crop Price Woes to Continue with Strong Yields, Good Weather
Yield and ending stocks for US corn are expected to increase, even as corn and soybean exports expand, said USDA in the recent July World Agricultural Supply and Demand Estimate report. Corn prices are predicted to drop, however, soybean prices are expected to stay steady as meal prices are predicted to increase. Feed Navigator

 

 Drought-Stricken India Returning to Global Corn Market
  India is stepping up its return to the global corn market, saying it plans to place a second large international order after a drought ended its more than two-decade run of self-sufficiency. India, the world’s sixth-largest consumer of corn, said this past Sunday that it intends to import 500,000 tons of corn in hopes of bringing down local prices for the commodity. Wall Street Journal

 

 Malaysian Palm Oil Price Rises Tracking Higher China, US Oils
  Malaysian palm oil futures rose on Wednesday, tracking higher Chinese soybean oil and palm olein prices, while gains in U.S. soybean oil also helped increase sentiment. Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange were up 2.1% at 2,234 ringgit ($560.60) a tonne at the midday break. The Star

 

 Soybeans Up Again On Worry Hot Weather May Hurt US Crop
Chicago soybeans rose again on Wednesday following a sharp jump on Tuesday as forecasts of hot and dry weather across the U.S. Midwest raised fears of damage to crops.

Corn was also firm after the weather rally on Tuesday, and supported too by USDA’s report forecasting tighter corn supplies. AgWeek