Ag News: Bayer CEO Soothes Investors
**Bayer CEO Werner Baumann sought to soothe investors' worries after a $289 million jury award over the controversial weed-killer Roundup, saying the $66 billion purchase of Monsanto still makes sense.
According to agrimarketing.com, Baumann says there’s "no reason to break out in nervousness" in the aftermath of the verdict.
The verdict shocked observers, erasing $16 billion from the company's market value in a week.
**Ag Secretary Sonny Perdue details the administration’s emergency aid package for farmers targeted in an escalating trade war with China and other trading partners.
According to the National Farmers Union, USDA will send incremental payments to soybeans, sorghum, wheat, corn, pork, dairy, and cotton producers through the Market Facilitation Program based on 2018 actual production and subject to payment limitations.
The USDA will also purchase commodities like fruits, nuts, rice, legumes, beef, pork and milk through a Food Purchase and Distribution Program and authorize a $200 million Trade Promotion Program.
**The Canadian dairy herd has nearly 970,000 cows, the highest mid-year inventory calculated for the country in 10 years.
According to USDA’s latest mid-year inventory for Canada and the U.S., dairy cow numbers are still on the rise for Canadian farms with a total of over 969-thousand cows accounted for on July 1st, an increase of 1.4% from the same time last year.
To give it perspective, if Canada was a single U.S. state it would rank third in dairy cow inventory behind California and Wisconsin.