Food Business News - May 21, 2013 - 49

INGREDIENTMARKETTRENDS
In The Spotlight

At A Glance

$6
$5
$4

June
2012

Aug.

Oct.

Dec.

Feb.
2013

April

U.S.-Brazil soybean production
in MMT

2008-09

2010-11

92,261*
85,000*

Brazil

82,055
83,500

84,192
66,500

U.S.
90,605
75,300

Senator Debbie Stabenow said she
expected the full Senate to debate the farm
bill and consider amendments during the
week of May 20, and she said she was
confident the Senate soon would be able
to vote on the measure. Representative
Frank Lucas of Oklahoma, chairman
of the House agriculture committee,
and Representative Collin Peterson of
Minnesota, the ranking member on the
committee, indicated they expected the
House to consider their bill sometime
during the summer.
Senator Stabenow asserted the Senate
bill would result in about $24 billion in
savings during the next 10 years, and
Representative Lucas said the House
bill would save more than $40 billion in
the same span. The biggest difference
between the two bills was in the nutrition
title. The Senate bill envisioned savings
of around $4 billion by addressing abuse
and fraud in the Supplemental Nutrition
Assistance Program, while the House
would cut that program by the equivalent
of $20 billion over 10 years. This will be
a major bone of contention should the
bills be passed in their current forms
and be brought to conference. The
principal reform in the commodity titles
of both bills was the elimination of direct
payments made to producers under the
past few farm bills without regard to
market price, risk or what and how much
they planted. FBN

f.o.b. plant, per lb
$7

91,417
69,000

he Senate and House agriculture
committees passed farm legislation
last week raising hopes that
Congress at long last will be able to enact
a new farm bill to succeed the Food,
Conservation and Energy Act of 2008.
The latter bill was allowed to expire last
October but later was extended through
the end of fiscal year 2013 as part of
the budget agreement. The agriculture
committees passed their versions of the
farm bill last year, and the full Senate
passed the bill approved by the Senate
Committee on Agriculture, Nutrition
and Forestry. But the
leadership of the House of
Representatives failed to
bring the farm bill passed
by the House Committee on
Agriculture to the floor for a
vote, leaving the agriculture
committees to begin anew
the process of advancing
a new farm bill. This they
have done expeditiously.
The Senate agriculture
committee on May 14
passed its version of the 2013 farm bill, the
Agriculture Reform, Food and Jobs Act of
2013, by a vote of 15 to 5, and on May 15,
the House agriculture committee passed
its version of the farm bill, the Federal
Agriculture Reform and Risk Management
Act of 2013, by a vote of 36 to 10.
In a teleconference held May 16,

Dried egg white prices

80,749
57,800

Ag committees take fresh stab at advancing farm bill

2012-13
*forecast

Source: U.S. Department of Agriculture

Ingredient Indexes
V ill I C
Vanilla Ice Cream

Commodity Trends
Milk Chocolate Bar

U.S. beet and cane sugar production
1,000 short tons, raw value
6,000

Beet

Cane

5,000
4,000
3,000
2,000

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May
2013
49 21, FOODBUSINESSNEWS

April
FOODBUSINESS NEWS 23, 2013
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Food Business News - May 21, 2013

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