Agribusiness Update for Friday 5/24/13

Agribusiness Update for Friday 5/24/13

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

The Senate Judiciary Committee approved the Border, Security, Economic Opportunity and Immigration Modernization Act Tuesday on a bipartisan 13 to 5 vote. 141 out of 200 amendments were adopted. The President said the legislation is largely consistent with the principles of commonsense reform he has proposed - and meets the challenge of fixing the nation’s broken immigration system.

There have been reports that the U.S. House will begin farm bill consideration the week of June 17th. As of Wednesday night - that has not been confirmed by Agriculture Committee Chairman Frank Lucas or Ranking Member Collin Peterson.

U.S. ethanol-makers produced an average of 875,000 barrels per day of the biofuel last week, up 2.1% from the week before and the highest in 11 months, according to the Energy Information Administration. Ethanol supplies dipped to 16.2 million barrels, the lowest amount since Nov. 5, 2010, the EIA said. Production margins have risen to near their highest since 2011.

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

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