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Balanced Reporting. Trusted Insights.
Wednesday, March 29, 2023
Strong commodity prices and tight grain stocks are likely to keep pressure on fertilizer prices for some time to come, a representative of the industry told the House Agriculture Committee on Tuesday.
Mexico’s bold move this week to reinforce its drive to disparage genetically modified corn and ban imports ignores protests from the Biden administration, adding pressure on the U.S. to follow through with recent threats to initiate a dispute under the U.S.-Mexico-Canada Agreement.
The Biden administration is demanding that Mexican President Andrés Manuel López Obrador scientifically justify his decree that would ban genetically modified corn and the popular herbicide, glyphosate.
Bayer is hailing a decision by the 11th Circuit Court of Appeals to reconsider its judgment in a case involving the question of whether federal pesticide law trumps state failure-to-warn claims.
Higher herbicide prices driven by supply shortages helped drive Bayer earnings above analysts’ estimates for the third quarter, as the company’s crop science division achieved an overall sales increase of 8.4% from the third quarter in 2021, to more than $4.7 billion.
Sales of Enlist seeds and herbicides have helped drive sales growth for Corteva Agriscience, which reported net sales of nearly $2.8 billion in the third quarter, up 17% from the same period a year ago.
The upcoming election could further shrink Democratic representation of rural areas in the House of Representatives, making it more difficult for agriculture advocates and the pesticide industry to find lawmakers who can get federal regulators’ attention.
Mexico has not publicly ruled on genetically modified plant traits in the four years since President Andrés Manuel López Obrador took power, but the country’s health regulator Cofepris has been quietly approving and rejecting traits with an apparent bias against glyphosate-resistant corn seeds, according to U.S. government and industry sources.
The Environmental Protection Agency has withdrawn an interim decision for glyphosate, the active ingredient in Roundup, and says it will complete its registration review in 2026.
