Ag News Briefs

The following are news briefs on issues affecting agriculture from around the nation and world.

(LAST UPDATED: 9/6/2017 AT 3:18 P.M.)

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US Proposes UN Ban on Oil to North Korea and Asset Freeze (AP) -- A U.S.-drafted resolution seeks to have the U.N. ban all oil and natural gas exports to North Korea and order a freeze on all foreign financial assets of the country and its leader Kim Jong Un.

The draft circulated to council members Wednesday was obtained by The Associated Press. It would also prohibit North Korea from exporting textiles and ban all countries from hiring and paying workers from the northeast Asian nation --- two key sources of foreign currency.

It would also prohibit North Korea from being part of any joint ventures or cooperative agreements.

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Storms to Weigh on US Oil Demand for Months

(Dow Jones) -- Hurricanes Harvey and Irma could delay the oil market rebalancing that is underway, argues Tom Pugh, a commodities economist at Capital Economics. The storms "are likely to have a larger negative impact on US oil demand than oil production over the next few months," Pugh says in a note. Lower consumption in the Gulf Coast area should weigh on oil prices, while Hurricane Irma could further reduce oil demand going forward. "It is likely that US oil demand will be negatively affected over the coming few months at least," he writes.

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France to Ban Oil, Gas Output on Home Soil in Symbolic Step

(AP) -- France's government has unveiled a law to ban all production and exploration of oil and natural gas by 2040 on the country's mainland and overseas territories.

The move is largely symbolic, however, as France's oil and gas production represents just 1 percent of national consumption --- the rest is imported.

Current drilling permits will not be renewed, according to the bill formally presented in a Cabinet meeting Wednesday. France currently has 63 oil and gas drilling projects on its territory.

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USDA Says 253,300 Tons Of Corn Sold To Mexico In 2017-18

(Dow Jones) -- Private exporters reported to the U.S. Department of Agriculture export sales of 253,300 metric tons of corn for delivery to Mexico destinations during the 2017-18 marketing year.

The marketing year for corn began Sept. 1.

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Wind Power Wins Converts in Rural U.S.

(Dow Jones) -- BP PLC does big business harvesting energy in and around this farm town. But it's not oil and gas -- it's wind.

Hundreds of wind turbines ring Fowler, their white towers rising for miles amid the golden-tipped cornfields and leafy soybean plants blanketing much of Benton County, pop. 8,650. More than half of the county's 560 turbines are operated by BP, which has three wind farms here.

"Turbines as far as you can see," said Ryan Linzner, who manages the BP wind farms.

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Holy Guacamole! Avocado Prices Rise to Record Highs

(Dow Jones) -- Meager avocado harvests have caused a shortage of the fatty fruit, pushing prices to record highs.

Avocado farming is a volatile business. Output from avocado trees alternates from year to year, with a high-yield season one year typically followed by a leaner one the next. Packers and distributors usually offset a bad harvest in California, the largest U.S. growing state, with fruit from elsewhere in the Americas.

This summer a smaller crop in California coincided with a tough season in Mexico after a lack of rain delayed the main harvest there. As a result, wholesale prices have soared 75% since mid-July to around $80 for a case of 48 Hass avocados, according to the American Restaurant Association Inc. Average retail prices for avocados rose 35% in the first half of this year to $1.21 per avocado, according to the Hass Avocado Board, pushed higher by strong demand.

(BE)

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