FEATURE: FEED INDUSTRY OUTLINES EXPECTATIONS FROM BIDEN ADMINISTRATION Huddleston Cullman 40 ¿HOG PDNLQJ VXUH GL൵HUHQW LQGXVWULHV DUH FRPSOLDQW ZLWKWKHVWDQGDUGV´ 6RPH VWDWHV DOUHDG\ KDYH &29,' VWDQGDUGV ZKLFK SURYLGHV VRPH LQVLJKW LQWR ZKDW D IHGHUDOVWDQGDUGPLJKWORRNOLNHKHVDLG,WZLOO DSSO\ WR HYHU\ SODFH RI HPSOR\PHQW DQG KDYHUHTXLUHPHQWVEDVHGRQH[SRVXUHULVN OHYHOVWUDLQLQJ33(KD]DUGDVVHVVPHQW FOHDQLQJ DQG GLVLQIHFWLQJ DQG DQ LQIHFWLRXVGLVHDVHSUHSDUHGQHVVSODQ ³(YHU\IDFLOLW\LVJRLQJWRKDYHWRKDYH DZULWWHQ&29,'SODQLQSODFH ,¶PFHUWDLQ RIWKLVZLWKWKLVHPHUJHQF\WHPSRUDU\VWDQGDUG´+XGGOHVWRQVDLG :LWKLQ WKH 'HSDUWPHQW RI /DERU WKHUH DOVR OLNHO\ZLOOEHDQLQFUHDVHGDPRXQWRILQVSHFWLRQVHVSHFLDOO\LQWKHDUHDRI&29,'DVZHOODVFRQWLQXLQJ WRVHHNPD[LPXPSHQDOWLHV ³7KHUHFRXOGEHDUHWXUQWRWKHQDPLQJDQG VKDPLQJ FDPSDLJQ SUHYDOHQW GXULQJ WKH 2EDPD DGPLQLVWUDWLRQ´ +XGGOHVWRQ VDLG ³7KHUH FRXOG EH ORWV RI QHZV UHOHDVHV ZKHUH R൵HQGLQJ FRPSDQLHV DUH JRLQJ WR EHQDPHGDQGVKDPHG:H¶OOVHHDGL൵HUHQWWRQHLQWKRVHQHZVUHOHDVHVWKDQZKDW ZH¶YHVHHQRYHUWKHODVWIRXU\HDUV´ &OLPDWHDQGHQYLURQPHQWDOLVVXHVDUHRWKHUNH\LVVXHVWKH%LGHQDGPLQLVWUDWLRQDOUHDG\ LV DGGUHVVLQJ VDLG &KULVWLDQ 5LFKWHU SULQFLSDO 7KH 3ROLF\ *URXS ZKR VSRNH DERXW ZKDW WR H[SHFW IURP WKH (QYLURQPHQWDO 3URWHFWLRQ$JHQF\ (3$ $ UHJXODWRU\IUHH]HZDVLVVXHGZKLFKLVFRPPRQZLWKD QHZDGPLQLVWUDWLRQVRDQ\UHJXODWLRQVRUJXLGDQFHLQ WKHSLSHOLQHLVFXUUHQWO\RQSDXVH7KLVLQFOXGHVDERXW WRGHFLVLRQVLQWKH(3$ 7KH 8QLWHG 6WDWHV KDV UHMRLQHG WKH 3DULV &OLPDWH $FFRUGZKLFKWKH7UXPSDGPLQLVWUDWLRQKDGUHYHUVHG IURPWKH2EDPDDGPLQLVWUDWLRQ ³:H¶UHJRLQJWRVHHDORWRIDFWLYLW\RQWKHLQWHUQDWLRQDOVWDJH´5LFKWHUVDLG³7KH86LVUHHQJDJLQJWKDWZD\´ 2Q WKH GRPHVWLF VLGH %LGHQ KDV DSSRLQWHG *LQD 0F&DUWK\DVWKHFOLPDWHF]DUWRGHDOZLWKFRRUGLQDWLRQ DPRQJWKHIHGHUDODJHQFLHV7KHIHHGLQGXVWU\ZRUNHG ZLWK 0F&DUWK\ RQ WKH SUHSDUHG IHHGV UXOH ZKHQ VKH ZDVWKH(3$¶VKHDGDGPLQLVWUDWRU ³:KLOH VKH KDG VLJQL¿FDQW GHPDQGV LQVWLWXWLRQDOO\ VKHZDVDEOHWRVLWGRZQZLWKXVDQGWDONDERXWKRZ WRKDYHWKHEHVWUXOHSRVVLEOH´KHVDLGQRWLQJWKDWVKH ZDVDEOHWRRSHQWKH¿QDOUXOHDQGPDNHVRPHFKDQJHV DIWHUSUREOHPDWLFHUURUVZHUHGLVFRYHUHG 7KHDGPLQLVWUDWLRQKDVKDGDPELWLRXVGLVFXVVLRQVRQ ZKDWNLQGRIUHVSRQVHDQGDFWLRQVLWZLOOWDNHRQFOLPDWHFKDQJH7KH(3$LVJRLQJWRSOD\RQHUROHLQWKH EURDGHU IHGHUDO DFWLYLWLHV 5LFKWHU VDLG 7KH QRPLQHH WROHDGWKH(3$0LFKDHO5HJDQLVFRQVLGHUHGWREHD IDLUO\HYHQKDQGHGGHFLVLRQPDNHUKHVDLG 'LVFXVVLRQV RQ WKH FOLPDWH IURQW DUH YHU\ GL൵HUHQW IURPZKDWWKH\ZHUHWKHODVWIRXU\HDUV5LFKWHUVDLG 6RIDUDJULFXOWXUHKDVQRWEHHQQDPHGRQHRIWKHWRS VKHOI SULRULWLHV EXW PDMRU DFWLRQ LV H[SHFWHG RQ WKH SRZHU DQG YHKLFOH VHFWRU LQ WHUPV RI JUHHQKRXVH JDV DQGFDUERQHPLVVLRQV&KDQJHVDOVRDUHH[SHFWHGLQWKH IHGHUDO&OHDQ:DWHU$FWMXULVGLFWLRQDOUXOH ³(3$ZLOOWDNHDORRNDWWKH7UXPSYHUVLRQRIWKDW UXOHEXWQRWULJKWDZD\´KHVDLG³:H¶UHJRLQJWRVHHD PRUHDJJUHVVLYHUHYLVLRQRIWKH7UXPSYHUVLRQRUUROOLQJWKDWEDFN ³:H¶OOVHHDELWPRUHDFWLYLW\RQWKHFKHPLFDOVR൶FH VLGHRI(3$WKDWZLOOVSLOOLQWRVRPHRIWKHDJULFXOWXUH FKHPLFDOV :H¶OO KDYH QHZ GLVFXVVLRQV ZLWK (3$ RQ WKRVHPDWWHUV´ FDA inspections :KLOHWKH)RRGDQG'UXJ$GPLQLVWUDWLRQPRGL¿HGLWV LQVSHFWLRQ VFKHGXOHV GXH WR &29,' D QXPEHU RI LQVSHFWLRQV KDG DOUHDG\ WDNHQ SODFH SULRU WR VWDWH ORFNGRZQ VDLG /HDK :LONLQVRQ YLFH SUHVLGHQW RI SXEOLF SROLF\DQGHGXFDWLRQ7KH)'$FDPHFORVHVWWRLWVJRDO LQ &XUUHQW *RRG 0DQXIDFWXULQJ 3UDFWLFH LQVSHFWLRQV ODUJHO\ EHFDXVH VWDWH LQVSHFWRUV FRQWLQXHG WR ZRUN WKURXJKWKHSDQGHPLFZKLOHWKH)'$VKXWGRZQLQODWH 0DUFK 'H¿FLHQFLHV DQG FLWDWLRQV LQ WKH ODVW ¿VFDO \HDU LQFOXGHGSUREOHPVZLWKK\JLHQHGRFXPHQWDWLRQDURXQG SHUVRQDO K\JLHQH DQG IDFLOLW\ FOHDQLQJ ,Q 3UHYHQWLYH DQG +D]DUG $QDO\VLV LQVSHFWLRQV VRPH IDFLOLWLHV GLG QRWKDYHDIRRGVDIHW\SODQGLGQRWDGHTXDWHO\UHYLHZ KD]DUGVDQGGLGQRWKDYHSUHYHQWLYHFRQWUROVLQSODFHWR DGGUHVVWKRVHKD]DUGV ³,QVSHFWLRQVZHUHLQWHUUXSWHGLQVRLW¶VKDUGWR SXOOWUHQGV´:LONLQVRQVDLG³7KHPDMRULW\RILQVSHFWLRQVWKDWZHUHRFFXUULQJZHUHµIRUFDXVH¶+DQJZLWK XV RYHU WKH FRXUVH RI WKH QH[W FRXSOH RI \HDUV DV ZH WUDYHUVHWKURXJKWKLVDUHDDQGWU\WRFRQWLQXHWRGUDZ VRPHWUHQGVIRU\RX´ 7KH)'$KDVVHWLQVSHFWLRQJRDOVIRUDQGGLVFXVVLRQVDUHRQJRLQJDERXWZKDWLQVSHFWLRQVPLJKWORRN OLNHJRLQJIRUZDUG7KLVVXPPHUWKHKXPDQIRRGVLGH VWDUWHG WDONLQJ DERXW XVLQJ UHPRWH UHFRUGV IRU LQVSHFWLRQV7KH&HQWHUIRU9HWHULQDU\0HGLFLQHKDVDVNHGWKH IHHGLQGXVWU\ZKHWKHULWZRXOGFRQVLGHUVXFKDPHWKRG 7KH$),$VDLGLIVXFKDSURJUDPZHUHSXWLQSODFHLW ZRXOGRQO\ZDQWLWXVHGGXULQJWKHSDQGHPLFDQGLWZRXOG QHHGWREHYROXQWDU\7KH)'$VDLGLWZRXOGQRWEHFRQVLGHUHG DQ R൶FLDO LQVSHFWLRQ VR :LONLQVRQ VDLG WKDW QR FLWDWLRQVVKRXOGEHLVVXHG 6RPHRIWKHWHFKQRORJLHVXVHGGXULQJWKHSDQGHPLF FRXOG WUDQVODWH LQWR LQVSHFWLRQV VXFK DV =RRP PHHWMarch 2021 / World Grain / World-Grain.comhttp://www.World-Grain.com