Agribusiness Update for Friday 11/15/13

American Farm Bureau Federation Chief Economist Bob Young told farmers in Montana this week that farming's best days may soon be behind it. Young said market growth for U.S. agriculture has been unprecedented with farm income value rising from 275-billion dollars to 425-billion dollars since 2003. Whatever goes up like that - Young said is more than likely going to move the other way sooner or later.

According to a study released Wednesday - the U.S. biodiesel industry - which is the largest producer of EPA-designated Advanced Biofuel in the nation - supports more than 62-thousand jobs and 2.6-billion dollars in wages this year. Biodiesel production also is on track for a record of 1.7-billion gallons.

The Environmental Protection Agency may propose a reduction in the federal requirement for blending ethanol into fuel in 2014 - but U.S. Agriculture Secretary Tom Vilsack says USDA will focus on its responsibility to increase availability of ethanol - particularly higher level blends. Vilsack says the oil industry has made it harder to access the higher blends.

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