Coalition calls for work permits for immigrant ag workers at World Dairy Expo…The American Business Immigration Coalition (ABIC) and prominent dairy industry leaders along with U.S. Rep. Derrick Van Orden (R-Wis.) addressed urgent labor shortages facing America’s dairy farms and to champion practical immigration reforms tailored to the industry’s needs.
During a press conference, speakers highlighted the essential role of workers in keeping dairy operations safe, efficient and productive, warning that without effective labor solutions, family-owned farms could close, consumer prices may rise and national food security could be at risk. Dairy farmers require access to a workforce that is reliable, responsible and able to meet the demands of year-round production.
ABIC and its partners called for bipartisan action to provide legal status for current workers, modernize and expand visa programs and create a more efficient system that enables dairy producers to hire the workforce they need. These reforms would help protect national food security, ensure the stability of rural communities, protect local economies and safeguard the future of American agriculture. Click here for the full story.
China pushes Trump to drop curbs as it dangles investment pledge… Bloomberg reports China is pushing the Trump administration to roll back national-security restrictions on Chinese deals in the U.S., dangling the prospect of a massive investment package.
The Chinese proposals include lowering tariffs on imported inputs from China used by Chinese factories built in the U.S. and changing the U.S. stance on Taiwan.
The potential investment package could be part of a proposal that would upend a decade of policy, with the size of the potential investment being discussed not unclear, although a figure of $1 trillion floated earlier this year.
FDIC set to jump into Trump’s debanking fight with new plan…U.S. regulators are set to unveil a plan next week tarting how officials scrutinize banks’ risk, after President Donald Trump moved to rein in what he sees as the closing of customer accounts for political reasons, writes Bloomberg journalist Katanga Johnson.
The Federal Deposit Insurance Corp.’s proposal would explicitly prohibit bank examiners from forcing lenders to close customer accounts on political, social, cultural or religious grounds, according to people familiar with the matter. The rule would focus on the government’s supervision powers and banks would not be required to assume any additional burdens as a result of the proposal, said the people, who asked to not be identified discussing the plans. Click here for the full story.
U.S. services gauge falls on weakest business activity since 2020…The U.S. service sector stalled in September as business activity slowed for the first time since the pandemic.
The Institute for Supply Management Index dropped to a 50, a level that indicates stagnation, with the business activity index falling into contraction territory for the first time since May 2020.
Ten services industries reported growth in September, while seven industries contracted, with employment continuing to be in contraction territory due to delayed hiring efforts and difficulty finding qualified staff.
Argentina wheat yields near historic highs…according to the Buenos Aires grains exchange this week, after it hiked up its harvest estimate to 22 MMT for 2025-26.
World food prices dip…Global food commodity prices dipped in September amid declines in sugar and dairy offset a new peak for meat prices, the United Nations’ Food and Agriculture Organization said on Friday.
The FAO Food Price Index, which tracks a basket of internationally traded food commodities, averaged 128.9 points in September, down from a revised 129.7 in August.
The index was up 3.4% from the same month last year, though down nearly 20% from the record level in March 2022, following Russia’s full-scale invasion of Ukraine.
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European Parliament seeks faster phaseout of Russia oil, gas…in a bid to sever ties definitively with the region’s former top energy supplier, according to Bloomberg.
Parliament’s industry committee is set to vote on amendments to the so-called RePowerEU regulation, including halting Russian oil and petroleum-product imports from the start of 2026 and banning all gas flows a year later, according to people with knowledge of the matter.
The move would align an end of piped-gas imports with a halt to seaborne deliveries already set out in the EU’s proposed sanction package. But whereas the sanctions are temporary by design, the RePowerEU initiative is a separate, longer-term plan to cut reliance on Moscow for good. Click here for the full story.
OPEC+ nations strive for consensus on size of next supply boost…OPEC+ nations are trying to reach a consensus on how to adjust their oil production next month, whether a modest or more substantial supply increase possible, according to Bloomberg.
Preliminary discussions swayed between two broad options for November output, including a repeat of this month’s marginal 137,000 barrel-a-day hike or a larger increase.
The group is being vigilant about potential supply losses from Russia and is negotiating how to return another layer of halted production, with some members seeking to add barrels to reclaim market share. Click here for the full story.
Russia is not considering diesel export ban for producers…according to its Energy Ministry. Earlier this week Russia imposed a partial ban on diesel exports and extended an existing gasoline export ban until the end of the year, according to the government.