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DECEMBER 18, 2020
Magnetic Ag News
Rise and shine. It's Friday.

Today's top stories:
  • The Gloves Are off in the Phosphate Fight
  • Hungry for GMO Bacon?
  • No Ordinary Seaweed

Our holiday schedule will include two 'MINI' Magnetics on December 22 & 29. We'll be back to our twice a week cadence on January 5.

P.S. We're still accepting applications to be a Magnetic College Ambassador for the spring semester. Learn more on the scroll.

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FERTILIZER

The Phosphate Fiasco Ramps Up
Phosphate Fertilizer
Alexey Rezvyleh | Getty Images
An international fight over fertilizer is making waves.

The backstory: In July, U.S. fertilizer giant Mosaic Co. petitioned to the Department of Commerce that something hairy was going on in Russia and Morocco with phosphate prices. A glut of cheap, imported phosphate knocked domestic prices heavily over the past year. Even Nutrien, the world leader in fertilizer production, took an impairment charge on its earnings as the outlook on prices was β€˜less than favorable.’

So Commerce folks obliged. Initial duties on Russian and Moroccan phosphate providers ranged from 20% to 72% -- a bold move as 76% of phosphate imports were funneled from the two countries.

But the tides have turned: Noting Mosaic’s control of 70% of the U.S. phosphate market, the international foes are highlighting how a major lack of competition is not good for farmers.

Their campaign slogan: Mosaic’s getting greedy.

The North American wing of global fertilizer-maker OCP S.A. [Morocco-based] launched StandWithUSFarmers.com to gain signatures to send to Congress to fight the petition. The site advocates that U.S. producers have already seen a 25% spike in fertilizer costs since imports tumbled.

By the numbers: A former Chief Economist to American Farm Bureau did the math to show that U.S. farmers will see an additional $480-$640 million in fertilizer bills with duties in place.Β  Eight Corn Belt Senators took note and are now pushing for the Mosaic petition to be trashed.

Where this goes:
The Commerce Department is weighing a clash of interests. Do they β€˜un-duty’ phosphate imports and avoid a Mosaic monopoly? Or do they investigate Mosaic’s claims further to gauge unfair international subsidies? This will be a barn burner.
QUICK HITS
β†’ Energy savings 101. Smithfield and Dominion Energy are now capturing renewable natural gas [RNG] from 26 family hog farms in Utah. The RNG savings is enough to annually heat 3K homes or take 23K cars off the road.

β†’ One bad bet. Tyson Foods fired seven managers at its Waterloo, IA pork plant for wagering how much of the facility's workforce would contract COVID-19.


β†’Β Β Cool nights to fill kernels. The University of Florida is using CRISPR technology to engineer heat-resistant corn varieties to battle the uptick in growing season temperatures.

β†’ U.S. Dairy gets a sustainability buddy. Starbucks, one of the largest fluid milk buyers in the country, is joining the dairy industry’s Net Zero Initiative to eliminate greenhouse gas emissions, improve water usage, and boost water quality.


β†’ Granular gets granular. A new crop rotation ROI tool will help producers pencil out decisions on 2021 corn vs. soybean planting.

β†’ 2021 food supply chain tech predictions by Culterra Capital were revealed in AgFunder this week.

COMMODITY CORNER
Commodity Prices
    • Corn & soybeans escaped unscathed from several choppy sessions of sideways trade.
    • Soybeans flew past the coveted 12.00 range, reaching the highest levels since June 2016.
    • Commodity bullishness is being fed by the US Dollar. Currency war rumors globally and an actively depreciating US Dollar are doing the trick.
    PORK PRODUCTION

    FDA Stamps 'APPROVED' on GMO Pork
    GMO Pork
    Olivier Le Moal | Getty Images Pro
    Genetically modified pigs have gotten the official thumbs up from the FDA this week.

    With the approval, GalSafe pigs can now be utilized for food and medicinal purposes. The first-of-its-kind livestock alteration was brought to life by Revivicor, a regenerative medicine company.

    The details: GalSafe pigs are modified to remove alpha-gal sugar from the animal’s cells. An allergy to alpha-gal sugars in humans, while rare, is believed to be caused by lone star tick bites.

    As pig cells and tissues are commonly used in the medical world, there is lots of excitement. Avoiding allergic reactions to otherwise life-preserving drugs or transplants is a big deal.Β Β 


    The meat of the matter: The dinner plate discussion is where contention lies. Allergen studies by the FDA focused on pharmaceutical use, rather than consumption, although the department notes that the meat is safe to consume. Taste, nutritional factors, and shelf-life are identical to non-GMO pork.

    But not so fast: Don’t expect to see GalSafe pork in the meat case next week. GMO labeling will have to be worked on. Plus, the meat will only be available via mail order anyway.

    And even then, it’s no sure bet. Take it from AquAdvantage salmon, the only other GMO-approved consumable animal protein for humans. Five years after FDA approval, the fish filets are still not available for consumers due to continuous legal challenges.

    • Worth noting: The National Pork Producers Council has begged for the White House to move livestock genetic editing approval over to the USDA, noting the β€˜FDA’s regulatory overreach’ will slow down U.S. producers' ability to compete globally.

    Bottom line: FDA approval might just be the starting line for GalSafe pigs. Time will tell if and when it becomes commercially available.

    JUST FOR FUN
    Coty Back, Kentucky native & Magnetic reader, shared this memory from hanging tobacco earlier this year.
    OCEANIC AG

    Seeing $$$ With Seaweed
    Seaweed
    Β  Β  Β  Β  Β  Β  Β  Β  Β  Β  Β  Β  Β  Β  Β  Β Monterey Bay Aquarium | GIPHY
    Researchers have their eyes on expanding the $6 billion seaweed market.

    A partnership in New Zealand with the University of Waikato is looking to magnify the potential of the green microalgae.

    Asian markets have swallowed up the supply of red and brown seaweed for decades, but the green variety is relatively unknown. Typically seen as the slimey pest that wraps around your ankles during a beach vacation, the β€˜sea lettuce’ is now getting some attention.

    β€œWe’re researching commercial applications of seaweed and potential ways to use macroalgae and their extracts for agricultural, human and animal health, and materials science applications,” noted seaweed biologist Dr. Marie Magnusson.

    The goal: Find life science applications that involve fighting infections for humans, plants, and animals. After that, commercial green seaweed cultivation can become reality and ocean farms will allow for ramp up of production.

    CAMPUS CALLOUT

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