House lawmakers reauthorized the U.S. Grain Standards Act. Less than a month before the original legislation was set to expire. However, there’s still a lot of heavy lifting to be done. The Senate still needs to do its part.
The National Grain and Feed Association warns that the bill must be passed for the entire grain value chain. Both Congressional Ag Committees took up the bill over the summer, but there’s no word on when the Senate could move forward; it does expire on September 30.
The U.S. Grain Standards Act was first enacted in 1916. Its primary purpose is to regulate the marketing and standards of certain grain crops produced in the United States, including barley, canola, corn, flaxseed, mixed grain, oats, rye, sorghum, soybeans, sunflower seed, triticale, and wheat under the U.S. Department of Agriculture (USDA).
It has undergone several revisions over the years. However, key provisions are set to expire later this month — specifically, rules allowing the Federal Grain Inspection Service to set standards during inspections and at weighing stations.
Friday’s release will be the first WASDE report in about two months, and early estimates indicate a corn surplus is still on the way.
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