Here are five things you missed last week
1. Russia hits two North American-owned grain terminals in Ukraine
Bunge says this is the second time they have been targeted as Russia has repeatedly hit the bridge used to take grain to the Romanian border. This comes after a major Russian oil and gas refinery near the Ukrainian border caught fire.
2. Triple-digit temperatures enter the Corn Belt
From the Southwest to the Central Plains, and stretching into the Midwest, the heatwave is on. Most of Michigan, Indiana, and Ohio were all under heat advisories on the first day of Summer. Eastern Iowa and Northern Illinois hit triple digits.
This is just the beginning, so producers, make sure you and your livestock are staying hydrated out there, and try to limit time outside as much as you can on these triple-digit days.
3. CN Rail signals and communications employees went on strike
Roughly 750 employees, members of the International Brotherhood of Electrical Workers, rejected a deal that included a 10 percent raise over the next three years.
The railway says operations are still running as normal under a contingency plan, but another strike, that could have an even bigger impact, is looming.
A contract with another union that represents 3,000 workers is set to expire in July.
4. Cattle Controversy: Ag groups reveal skepticism regarding cattle reform measures
Ag groups are mixed on the passage of two major cattle reform measures in the Senate Ag Committee. One sets a minimum level of cash trading, while the other establishes a special investigator’s office to look into unfair marketing practices.
The real controversy came over the Cattle Price Discovery and Transparency Act. It was opposed by Ranking Member John Boozman, who said he would support it if not for the federally mandated cash trade.
The bills are opposed by the National Cattlemen’s Beef Association, the North American Meat Institute, and 21 Farm Bureau presidents. They say a federal mandate will cost cow-calf and stocker operations significantly more. The U.S. Cattlemen’s Association says without intervention, negotiated trade would soon fall to zero percent in parts of the country.
5. Help is on the way for U.S. meat exports
USDA says it is stepping up to improve services for shippers. The department is taking action at the Port of Houston, and it will cover some leasing costs of 1,000 additional chassis. $500 million worth of goods were exported through that port last year. The Agency is also expanding its partnership with the Northwest Seaport Alliance to enhance access to the temporary pop-up storage site at Seattle/Tacoma.
Lawmakers are tackling shipping issues for the meat industry with the Ocean Shipping Reform Act. Under the new law, U.S. meat exports must be moved to their destinations in a more timely fashion because there is less room for ocean carriers to decline cargo.