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Congress Passes Controversial ‘Monsanto Protection Act’

Farm Appropriations Bill Includes a Provision that Protects GMO Companies from Litigation

By , Farms.com

The U.S. House of Representatives recently passed a last-minute amendment to the Agriculture Appropriations Bill (HR933) – a provision that would protect genetically modified seeds (GMOs) from litigation over health risks. It is known as the Senate’s continuing resolution bill, which provides short-term funding to the federal government until the end of the fiscal year. The vote was 318 to 109 in favour of passing the Bill.

Opponents have dubbed it the “Monsanto Protection Act,” since the biotech rider would strip the federal courts authority to stop GMO seed crops from being grown – even if there is consumer health concerns.

The bill has a six-month expiration life and it remains unknown if this provision will be short-lived or if it will be extended.

Opponents to the bill, led by the group Food Democracy Now, have launched a campaign calling on President Barack Obama to veto the Continuing Resolution spending bill, but their request will not likely succeed, since the bill does include a significant amount of government funding. 


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Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz

Video: Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz


The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.