Ag News: Bayer Earnings with Monsanto
**Bayer has reduced its expected earnings from the Monsanto acquisition, which has forced the company to divest from various businesses worldwide.
The German pharmaceutical and chemicals company says it now expects the deal to deliver an annual contribution of $1.2 billion to earnings before interest, taxes, depreciation and amortization before special items, from 2022 onwards.
The previous figure was $1.5 billion.
**The Trump administration is vowing to make it easier for farmers to bring in foreign laborers to help pick their crops and milk their cows, but offered few details on promised policy to address one of the ag sector’s most pressing concerns.
According to Agri-Pulse, officials are telling farm groups they want to finalize a rule making the changes in time for the 2020 growing season.
Ag Secretary Sonny Perdue has already said USDA was working on a way to make the department the entry point for H-2A applications, but details weren’t given.
**The European Union continues to frustrate U.S. farmers and biotech companies with its roadblocks to international approval for genetically modified plants.
U.S. officials took the opportunity at a World Trade Organization meeting to rail against the EU's increasingly complex and bureaucratic approval process that U.S. officials call politicized.
Ag representatives say the EU process continued to bog down over the last several years, extending the average approval time from 18 months to about four years.