Agribusiness Update for Wednesday 7/31/13

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

Japan is lifting their two-month ban on U.S. western-white wheat. The ban was imposed after the discovery of unapproved gene-altered crops on an Oregon farm. An investigation is still on-going as to how the wheat got there. The USDA has been working with Japan and other countries to assure them this was an isolated incident.

The six largest agricultural biotechnology companies are coming together to launch an initiative aimed at providing accurate information and answering the toughest questions about genetically modified seeds - GMOs - and how our food is grown. GMO Answers is described as a new conversation, public Q&A and central online resource for information on GMOs.

A U.S. federal court has been asked to block new labeling regulations. A coalition of meat processing and packing trade groups from the U.S., Canada and Mexico filed the request for a preliminary injunction stopping the new country-of-origin labeling standards from taking effect. The groups believe an injunction is warranted because they will likely prevail in a lawsuit challenging USDA’s rule.

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