Broadcast Newsline: May 28, 2010

This week’s cotton newsline is 5 cuts.  All cuts are Gary Adams vice president of economics and policy analysis for the National Cotton Council.

Suggested Introduction 1:
The Wall Street Journal ran an editorial May 21^st related to the ongoing dispute between the United States and Brazil regarding the Cotton and Export Credit Guarantee Programs.  Gary Adams, vice president of economics and policy analysis for the National Cotton Council says they are very concerned with the mischaracterizations of certain aspects of the case.

Suggested Introduction 2:
Adams says direct payments and crop insurance payments paid in 2009 were not found to be at fault and are not a part of the dispute with Brazil.

Suggested Introduction 3:
Adams says the decision by the WTO panel was actually based off policies set in place by the 2002 Farm Bill.

Suggested Introduction 4:
Adams points out that the Export Credit Guarantee Program has been part of the dispute from day one.

Suggested Introduction 5:
According to Adams payments for Brazilian farmers from the fund set up and agreed upon by the U.S. and Brazil are prohibited.