Congress Passes Controversial ‘Monsanto Protection Act’

Mar 27, 2013

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

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.

Video: Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”

After a week of a U.S./China trade truce, markets/trade is skeptical that we have not seen a signed agreement nor heard much from China or seen any details. There are rumors that China is buying soybean futures & not the physical. Trust in Trump?
12 MMT of U.S. soybean purchases by China by year-end is better than 0 but we all need to give it more time and give it a chance to unfold. China did lower the tariffs on Ag and is buying U.S. wheat and sorghum.
U.S. supreme court could rule against Trumps tariffs, but the Trump administration does have a plan B.
U.S. government shutdown is now the longest in history at 38 days.
But despite a U.S. government shutdown we will be getting a USDA November crop report next Friday and it could be “game changing.” If the USDA provides a bullish surprise with lower U.S. corn and soybean yields and ending stocks that are lower than expected both corn and soybean futures will break out above their ceilings at $4.35/bu and $11.35/bu respectively.
The funds continued their selling in live and feeder cattle futures on continued fears that the Trump administration want to lower U.S. beef prices. The fundamentals have not changed, only market psychology has.
Stocks markets continue to worry about a weak U.S. job market, but you can blame ChatGPT for that. In the future, we will have a more efficient, productive and growing economy with a higher unemployment rate until we have more skilled AI workers.
After 34 new record highs in the S & P 500 and 124 new records in the NASDAQ in 2025 we are back to a correction and investor profit taking as AI valuations may have gotten too stretched near-term ahead of NVDA’s 3rd quarter earnings announcement on Nov. 19th. But this is not an AI bubble.
75% of Tesla shareholders approved a $1 trillion pay package for Elon Musk!
It has rained in South America in the last 7 days, but both the American and European models agree that Central Brazil remains dry in the next 14-days!

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