Agri-Pulse DriveTime

Union Pacific and Norfolk Southern are again seeking approval from the Surface Transportation Board to merge, forming the nation's first coast to coast railroad company. President Trump is expect to host Brazilian President Luiz Incio Lula da Silva for talks about shared economic and security issues. Gasoline prices are up 31-cents a gallon over the last week, that's over 50% higher than a year ago.

Farmers indicated a more challenging outlook in the latest Ag Economy Outlook Barometer. Iowa Soybean farmer Dave Walton testified before a USTR hearing today saying trade sanctions have proven to cost farmers global markets. Walton is hopeful soybeans are included in the upcoming trade summit with President Trump and Chinese leader Xi later this month.

A Trump cabinet official says "help is on the way" for high gasoline prices. Corn and soybean planting is advancing and wheat condition continues to slip with less than a third of winter wheat acres rated either good or excellent. Acting Attorney General Todd Blanche says an investigation is underway of the major beef processors potential anticompetitive conduct.

The focus of a new farm bill now turns to the U.S. Senate. Chairman John Boozman says his committee will take up the measure later this month or in early June. Nutrition programs, pesticide labeling, and state livestock production standards are major obstacles leaders will have to navigate in search of 60 votes.

The House of Representatives approved its version of a farm bill today. House Agriculture Committee Chairman Glenn "GT" Thompson comments on the bill. Senate Democratic Whip Richard Durbin says the upper chamber will produce a bipartisan bill. NCGA President Jed Bower is still hopeful for E15 legislation.

Consideration of a new farm bill and amendments is back on track in the House of Representatives. House Ag Committee Chairman Glenn "GT" Thompson says science is on the side of the policy language that protects ag companies with approved pesticides from frivolous lawsuits. Thompson says E15 legislation "needs a little more time".

The House Rules Committee continues to consider amendments to the Agriculture Committee's farm bill proposal. Follow Kim Chipman's coverage at www.agri-pulse.com. NCGA leaders say they need a farm bill and E15 legislation. ASA testified before the USTR's Section 301 hearing on international trade.

An amendment to the House Farm Bill to allow E15 sales year-round is before the House Rules Committee. Geoff Cooper with the Renewable Fuels Association says it's a multi-step process to final approval. Emily Skor with Growth Energy says approval would save consumers money at the pump and grow availability in the retail space.

Agriculture Secretary Brooke Rollins today announced a second round of assistance for farmers who suffered from natural disasters. Soybean farmers are hopeful the House of Representatives will approve a new farm bill next week. ASA President Scott Metzger says the economic climate has worsened since the year began.

House Agriculture Committee Chairman Glenn "GT" Thompson believes he has the votes to approve the committee's farm bill proposal in the lower chamber. An effort to see E15 language in the bill is underway. Small refinery exemptions remain a sticking point for some in the refining industry.