Farms.com Home   News

Ranking Member Stabenow Opening Statement At Hearing on U.S. Grain Standards Act

U.S. Senator Debbie Stabenow, Ranking Member of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, today released the following opening statement – as prepared for delivery – at today’s hearing reviewing the U.S. Grain Standards Act.

Stabenow’s remarks, as prepared for delivery, follow.

Thank you Mr. Chairman for holding this important hearing on the Grain Standards Act.

And thank you to the officials and industry representatives for testifying today. You bring perspectives from all sides of our grain inspection system and I look forward to hearing your testimony.

Our nation’s farmers and producers grow the very best products in the world.

Whether it’s Michigan soybeans – or Kansas wheat – buyers around the world know that when American products carry the seal the US Department of Agriculture, its quality is next to none.

That’s one reason why the U.S. is the premier supplier of high quality grains and oilseed worldwide.

And why the United States is the number one farm goods exporter worldwide – supporting more than one million jobs here at home.

To paint that in a different light, in 2014, the U.S. had agricultural exports totaling more than $150 billion, the highest dollar value we’ve ever had.

Let me share a bit of historical perspective on why it is so critical that the U.S. maintain the Federal Grain Inspection Service.

And how it was designed to defend the interests of American farmers and protect the integrity of the United States as a trading partner.

In 1974, our private inspection system was rocked by a scandal that threatened the credibility of U.S. agricultural exports.

While American farmers were producing high quality grain— private individuals and companies charged with inspection were short-changing foreign customers by inaccurately weighing grain, shipping in dirty vessels, and accepting bribes.

In New Orleans, private inspectors took bribes to certify that an oil tanker could be used to transport grain—so that companies wouldn’t have to take extra time and pay for an expensive cleaning process.

A number of these individuals and companies were indicted by federal grand juries, but these revelations significantly diminished our reputation as a reliable business partner and our competitive advantage in international markets.

As a result, in November of 1976 Congress acted by federalizing the grain inspection system – now called The Federal Grain Inspection Service (FGIS) – to help rebuild the integrity and image of American agricultural exports.

Our country’s agricultural exports have grown six times since then, and the trust associated with the official USDA certificate of inspection is a big part of that success story.

That certificate also gives our American farmers the reassurance they need that they will receive a fair price for the grain that they worked so hard to produce.

I look forward to working with you -- Chairman Roberts – in a bipartisan way to maintain the integrity of the existing inspection system as we begin the process of reauthorizing this important piece of legislation.

Thank you.

Source:senate.gov


Trending Video

Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.