Ag and Energy Report June 2

Local News
Oil ministers are gathering in Vienna for the Opec meeting. 
 
No big surprises are expected but Saudi Arabia’s new energy minister will make his first appearance at an Opec meeting. 
 
With the rally in oil recently, there is less pressure on ministers to cut production.
 
The Food and Drug Administration today took a modest step toward ratcheting down the sodium in the food supply. 
 
The FDA proposed voluntary guidelines for food companies to gradually remove sodium from their products. 
 
The idea is that if companies agree to slowly make their products less salty at the same time, no company will have to act first and take a sales hit from consumers.
 
Spam may have a long shelf life, but its Spam Snacks spinoff had a short run on grocery shelves. 
 
The Minneapolis Sun Times says parent company Hormel has discontinued the dried, bite-sized version of the famous canned meat after just six months.
 
The snacks came in three flavors classic, bacon and teriyaki. 
 
The USDA  funds for farm loans are running out. 
 
Agriculture.com says the FSA steps in during times of low commodity prices and guarantees loans, both for farm ownership and for annual operating expenses when a borrower no longer meets a bank’s lending standards.
 
But the programs are so popular this year they may run dry in June. 

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