Agribusiness Update for Thursday 09/12/13

This is the Agribusiness Update...I'm Greg Martin... The U.S. District Court for the District of Columbia has denied plaintiffs' request for a preliminary injunction that, if granted, would have blocked the USDA from implementing and enforcing its revised country of origin labeling regulations until a lawsuit filed July 8 is concluded.  Several livestock groups became intervenors in the lawsuit when the court entered an order granting their motion to intervene in full, permitting the groups to participate in the preliminary injunction hearing as well as the remainder of the litigation.  The Taiwan Feed Industry Association signed a letter of intent with the U.S. Grains Council committing to purchase 197-million bushels of U.S. corn in 2014 and 2015. A-half-million tons of DDGS will be included as well. The total value of these intended purchases is nearly 4-billion dollars. USGC Chairman Julius Schaaf says Taiwan has been one of the most important export markets for U.S. coarse grains and products for the past 40-years. The groups who had their lawsuit against Monsanto stopped by the Court of Appeals for the Federal Circuit are now asking the Supreme Court to hear their case. The plaintiffs sued preemptively to protect themselves from being accused of patent infringement should their fields ever become contaminated by Monsanto's genetically engineered seed. But a three-judge panel ruled in June they aren't entitled to bring a lawsuit because the Company has made binding assurances it won't take legal action against growers. That's today's Agribusiness Update from the Ag Information Network.