Bayer and Monsanto have confirmed they’re in advanced negotiations with Bayer increasing its share offer to buy Monsanto. If accepted the combined company would account for $67 billion in sales and create the world’s largest seed and crop chemical company.

That will be the focus of ag merger hearings scheduled for September 10 before the Senate Judiciary Committee. Chairman and Iowa Senator Chuck Grassley says his hearings may be one of the few Congressional activities scheduled for September.

He says Congress needs to pass a continuing budget resolution before the fiscal year ends. However, not much else will get accomplished before the election, and the lame duck will be no different.
After the first of the year Grassley says farm bill hearings will begin and give them a sense of just how tough the farm economy is.

FSA just put another $185 million in direct and guaranteed loans for farmers to help with the loan demand brought on by the dire ag economy.