Agribusiness Update for Tuesday 3/5/13

Agribusiness Update for Tuesday 3/5/13

This is the Agribusiness Update...I’m Greg Martin...

With Congress and the White House failing to reach any agreement to avoid sequestration - government agencies will have to find ways to cut a total of 85-billion dollars from their budgets. Congress can still stop the automatic across-the-board cuts at any time if an agreement is reached on how to do so.

USDA has announced an interim rule that sets thresholds on the interest rates charged by lenders on guaranteed farm ownership and operating loans. The changes will amend guidelines for interest rates and establish new policies that clearly set the maximum interest rate lenders may charge to borrowers.

Beginning March 4, certain immigrant visa applicants who are the spouses, children and parents of U.S. citizens (immediate relatives), and have been unlawfully present in the United States, can start applying for provisional unlawful presence waivers through a new process. The new provisional unlawful presence waiver process is for certain individuals who seek a waiver of inadmissibility only for unlawful presence.

That’s today’s Agribusiness Update from the Ag Information Network. 

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