Mid-year update

The 2009 MID-CO summer meeting, held August 1-4 in Fontana, Wisc., offered attendees a high-level look at crop production, politics and legislative issues, and the economy.

Steve Freed, ADM Investor Services, told participants although some areas of the U.S. did not get a crop planted, "Iowa, Nebraska, North Dakota, and Minnesota, have had near perfect crop conditions." He said that lends support to those who are calling for a near-record corn crop.

Freed said China will continue to be a factor in world markets, due to internal constraints. "They're running out of water," needed to produce a good crop, he said.

In an overview of issues and politics, Jim Wiesemeyer, Informa Economics (www.insidewashingtontoday.com) said, "the power structure is changing. This is the most White House-centric administration since Reagan." That means all cabinet level positions will take their cues from the White House.

In USDA, Wiesemeyer warned participants to watch USDA Secretary, Tom Vilsak. "He is a very different personality. Production agriculture is not a top issue," with him. Rather, he's focused on farmers markets, sustainability, and organic agriculture.

Wiesemeyer also issued a warning about the Attorney General's office, and Christine Varney, the assistant attorney general in particular. Wiesemeyer said the AG's office will have an increased focus on mergers, including agriculture, railroad and seed companies, which will put many companies on their radar screen.

Top issues in the Obama administration include health care reform, climate change, food safety reform, financial regulation reform, and immigration reform.