Agribusiness Update for Friday 11/29/13

The Director-General of the World Trade Organization says negotiators have failed to craft a global trade deal that could have given the world economy a one-trillion dollar boost. According to Director-General Roberto Azevedo - negotiators for the WTO's members tried hard but just couldn't cross the finish line. Ministers were supposed to have a deal to sign next week in Bali, Indonesia.

During this time of giving thanks - American Farmland Trust President and CEO Andrew McElwaine urges citizens to tell Congress it's time to finish the 2013 Farm Bill. McElwaine says AFT delivered more than 25-thousand messages to Congress earlier this year demanding they get to work on a final farm bill - and within weeks the farm bill conference committee was named.

Net farm income is now forecast to be 131-billion dollars in 2013. That's up 15.1-percent from 2012's estimate of 113.8-billion. After adjusting for inflation - net farm income in 2013 is expected to be the highest since 1973. The net cash income forecast is down just over three-percent from 2012 at 129.7-billion dollars.

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