USDA Keeping Current Corn and Soybean Grain Standards

(WASHINGTON, DC) The U.S. Department of Agriculture’s Agricultural Marketing Service (AMS) announced last week that it will not pursue changes to the domestic standards for corn and soybeans under the U.S. Grain Standards Act (USGSA). AMS cited comments from stakeholders, including a joint statement on the soybean standards in its decision. The National Grain and Feed Association (NGFA) and other key soy organizations urged AMS to suspend further rulemaking on potential changes to the official grain standards for soybeans. In a submitted letter, the groups cited an atypical current soybean market environment, characterized by dramatically disrupted trade flows; anticipated heavy carryover stocks of U.S. soybeans, low futures prices, depressed basis values for growers, weather-induced damage and ongoing research and information gathering as reasons to not pursue changes to the official standards.