Farm Bureau Press | April 19

Farm Bureau Press

FARMER ACT TO STRENGTHEN CROP INSURANCE, MAKE HIGHER LEVELS OF COVERAGE MORE AFFORDABLE

Ranking Member of the Senate Ag Committee John Boozman recently joined colleagues to introduce the FARMER Act. Sen. John Hoeven, a senior member of the Senate Agriculture Committee and Ranking Member of the Senate Agriculture Appropriations Committee, introduced the Federal Agriculture Risk Management Enhancement and Resilience (FARMER) Act, legislation to strengthen crop insurance and make higher levels of coverage more affordable for producers.

Specifically, the legislation would:

• increase premium support for certain revenue protection and yield protection policies at the 80% coverage level from 68% to 77% and at the 85% coverage level from 53% to 68%;

• increase premium support for the SCO, an area-based plan, from 65% to 80% and increase the SCO coverage level from 86% to 90%; and

• direct the Risk Management Agency to conduct a study to improve the effectiveness of SCO in counties larger than 1,400 square miles.

“I commend Senator Hoeven’s leadership in introducing the FARMER Act and proactively addressing the needs of farmers and ranchers who have asked for improvements to the federal crop insurance program. The FARMER Act includes critical components to modernizing the farm safety net for producers across all regions and all commodities,” Boozman said in his remarks. “We can pass a farm bill that strengthens Title I and Title XI while also making improvements across every other title to meet our shared goals. This isn’t an either-or decision. The next farm bill provides an incredible opportunity to make things right for farmers, ranchers, rural communities and those in need.”

See Sen. Boozman’s full testimony in support of the legislation from the Senate floor here. A summary and the full bill text of the legislation can be found here. Statements of support can be found here

PUBLIC MEETINGS FOR THE ARKANSAS 2024 ARKANSAS AITC TEACHER OF THE YEAR

Harrison Middle School English teacher

Stephanie Benton was named the 2024 Arkansas Ag in the Classroom’s (AITC) Teacher of the Year.

The award annually honors one Arkansas teacher who skillfully integrates the concepts of agriculture into a non-agriculture curriculum. This award was created to recognize outstanding educators for their efforts and achievements in teaching students the importance agriculture.

Throughout the school year, Stephanie Benton’s 7th and 8th grade English students have learned ways agriculture impacts lives, the environment, the economy and national security. As a culminating activity, each student writes an argumentative essay recommending how their local community could make better choices relating to food nutrition and food safety. Students then present their ideas to a panel of community members, sharing and defending their recommendations.

As a recipient of the AITC award, Stephanie will receive a $1,000 award, an iPad Air tablet, and a scholarship to attend the 2024 National Ag in the Classroom Conference in Salt Lake City.

On hand to present the award were (left to right) Nick Simon, Boone County Farm Bureau president; Donette Spann, Ag in the Classroom director; Nita Cooper, Boone County Farm Bureau vice president, and Jeremy Miller, Arkansas Farm Bureau Northwest district director.

In compliance with Executive Order 23-27 signed by Gov. Sarah Huckabee Sanders, the Arkansas Department of Agriculture (Department) is updating the Arkansas Water Plan. The Department will hold public meetings to engage stakeholders in identifying current water issues, needs, and best practicable solutions.

The format for each meeting will consist of a general overview of the current water plan and discussion about potential updates during the morning session and location-specific water supply discussion in the afternoon from 1–3 p.m. Attendees are welcome to attend all or parts of each meeting but encouraged to arrive 15 minutes early for on-site registration. The meetings will be held in the following locations:

May 6 – 10 a.m.–3 p.m., Fowler Center 201 Olympic Dr., Jonesboro. (Afternoon session topic: Water Infrastructure)

May 7 – 10 a.m.–3 p.m., Fort Smith Convention Center, 55 S. 7th St., Fort Smith. (Afternoon session topic: Drinking Water Supply)

May 8 – 10 a.m.–3 p.m., Donald W. Reynolds Campus & Community Center, 100 E. University St., Magnolia. (Afternoon session topic: Industrial Water Supply and Mineral Extraction)

May 9 – 10 a.m.–3 p.m., Rice Research and Extension Center, 2900 AR-130, Stuttgart. (Afternoon session topic: Agricultural Water Supply)

ARKANSAS NRCS ANNOUNCES SIGN-UP URBAN AGRICULTURE CONSERVATION

The U.S. Department of Agriculture’s (USDA) Natural Resources Conservation Service (NRCS) in Arkansas announced two additional sign-ups through the Environmental Quality Incentives Program’s (EQIP) Small Farm and Urban Agriculture Initiative and the Conservation Stewardship Program (CSP).

How to Apply

NRCS accepts applications for conservation programs yearround, but to be included in this funding opportunity, interested producers should contact their local USDA Service Center and apply by May 17. Applicants are encouraged to work with NRCS and the USDA’s Farm Service Agency (FSA) to complete eligibility requirements during the application process.

EQIP – Urban Agriculture

For urban operations in this particular sign-up, NRCS offers technical and financial assistance with conservation practices, such as conservation cover; conservation crop rotation; cover crops; high tunnel systems; irrigation system, micro irrigation; Irrigation Water Management; low tunnel systems; Mulching; Nutrient management; Pest management conservation system; Prescribed grazing; Raised beds; Residue and tillage

ARKANSAS

ARKANSAS WATER PLAN UPDATE

May 10 – 10 a.m.–3 p.m., Arkansas Cooperative Extension State Office, 2301 S. University. (Afternoon session topic: Environmental Quality and Recreation). A virtual option will be provided on the agency website at agriculture.arkansas.gov. The update of the Arkansas Water Plan and the development of a statewide flood plan is being conducted in collaboration with the U.S. Army Corps of Engineers. The purpose of the Arkansas Water Plan is to conserve and protect the state’s water resources, with a long-term goal of sustainable use to maximize the environmental and economic benefit of the State of Arkansas, and the health and well-being of its citizens.

Representatives from all water use sectors, including interested water planning groups, state and federal agencies, legislators, and local entities, are encouraged to participate in the meetings. If you would like to provide feedback about water issues, please fill out the Arkansas Water Engagement Form. Contact J. Ryan Benefield at Ryan.Benefield@agriculture.arkansas.gov or at 501682-3962 for additional meeting information. Learn more about the Arkansas Water Plan online

A r FB FOUNDATION ANNUAL TRAP SHOOT

The Arkansas Farm Bureau Foundation will be hosting its annual trap shoot June 7 at the Arkansas Game & Fish Foundation Shooting Sports Complex in Jacksonville.

The ArFB Foundation is “Aiming for the Future of Agriculture” by teaming up with the Arkansas 4-H Foundation and the Arkansas FFA Foundation. Half of the net proceeds from this year’s shoot will benefit the Arkansas 4-H and Arkansas FFA Foundations, while continuing to support the goals of the ArFB Foundation.

The event is $500 for a five-man team and includes awards for youth & adult divisions, a top shooter award and door prizes.

There are several options for individuals or county Farm Bureaus to show support for these organizations including sponsorship of a local youth shooting team, or forming county team. The deadline to register is May 23.

There are also several options for those wanting to support these organizations, including:

• Event Sponsor:

SIGN-UP FOR CONSERVATION OPPORTUNITIES

management – no-till; Residue and tillage management –reduced till; Roof Runoff Structure; Soil carbon amendment; and Wildlife habitat planting. The full list of practices is available at the NRCS office in your local USDA Service Center.

CSP – Urban Agriculture (ACT-NOW)

CSP offers additional opportunities to expand on existing conservation efforts through enhancements. Interested producers should submit applications including the NRCSCPA-1200 and maps that identify and delineate the boundaries of all eligible land uses and acres included in the operation to their local NRCS office. The CSP-Urban Agriculture sign-up will be offered via ACT NOW. ACT NOW allows NRCS to expedite application approval and contract obligation in a designated ranking pool when an eligible application meets or exceeds a state-determined minimum ranking score, which is 60 for the CSP-Urban Agriculture ranking pool. Eligible applications will be batched and processed in the order they’re received, with selections made weekly. CSP-Urban Act Now applications will be accepted on a continuous sign-up basis until May 17 or until funds have been expended.

• Gold Level: $300 – Unlimited Availability

• Silver Level: $200 – Unlimited Availability

• Bronze Level: $150 – Unlimited Availability

• Shooting Field: $450 – 12 Available

• Booth: $50 – Limited Availability

For more information on all sponsorship opportunities, please visit the ArFB Foundation section of the Arkansas Farm Bureau website for registration options and additional forms. The Facebook even page can be found here.

For questions, contact Amanda Williams by email at amanda.williams@arfb.com or at 501-228-1493.

MARKET NEWS

as of April 17, 2024

Contact

Brandy Carroll brandy.carroll@arfb.com

Tyler Oxner tyler.oxner@arfb.com

Rice

Old-crop rice futures have soared higher this week as traders worry about the supply of rice available. May has charted some extremely wide trading ranges and set a new eight-week high on Tuesday. A close above resistance at $18.50 could signal a retest of resistance at $19.00, with the next target the February high of $19.35½. September rice has broken out of the sideways trading pattern that has dominated the market for the past eight weeks. So far, resistance at $15.00 has capped the market. Support is mainly coming from concerns about the short-term supply of rice. The war in the Middle East is causing general concerns about global food security. Farmers are moving quickly to get the crop in. USDA says 46% of the Arkansas crop was in the ground as of April 14, significantly ahead of the five-year average of 17% planted. Nationwide, 44% of the crop is in the ground. Rain throughout the mid-south may have slowed progress this week but will give the rice in the ground a good start in many areas.

Cotton

Cotton farmers reported to USDA their intentions to plant 10.673 million acres this year. That’s down 13% from the 5-year average, but up 4% from last year. It’s also up from the National Cotton Council survey that was open during January and reported in February, that showed intentions for 9.8 million acres. Farmers in Arizona and Texas have begun planting, and 8% of the total U.S. crop is in the field. Significant rainfall through Texas

and the Southern states could delay planting in the short-term but should provide sufficient moisture to get the crop off to a good start. New crop December futures have been trending lower but charted a bullish key reversal to begin the week. However, huge losses on Tuesday negated that chart signal with the market closing below previous support at 80 cents. The next level of support is 77 cents. Inflation has caused the dollar index to surge, and that is pressuring cotton prices. If worries about war in the Middle East escalating cause crude oil price to increase, that would be supportive as it makes competing synthetic fiber more expensive.

Corn

Corn futures continue to trend sideways to lower. New crop December charted a bullish reversal in late March, but there has been no follow through buying and resistance at $4.80 remains intact. The monthly WASDE report showed a small increase in demand leading to lower ending stocks of 2.122 billion bushels, up from 1.36 billion bushels for 2022/23. The first 2024/25 estimates will be released in May, but analysts aren’t expecting to see tighter supplies at this point. These large supplies are keeping a lid on prices and could continue to, unless there are production issues. Corn planting is just getting started, with 6% of the crop in the ground.

Soybeans

Soybean prices remain under pressure as the expectations for a huge crop continue to limit the upside. USDA reported planting intentions of 86.5 million acres of soybeans. Next month will mark the first supply/demand estimates for the 2024/25 crop, which could have major market implications. Demand is increasing, but not at the same pace as supplies. Domestic crush for biodiesel production is currently providing some support. November soybeans have resistance at the March high of $12.16.

Wheat Wheat futures appear to have charted a bottom, with July building on support at $5.37 ½. However, the market has been capped by resistance at $5.90 and is consolidating between those points. The monthly WASDE lowered domestic use while supply and exports remained unchanged. That resulted in ending stocks raised by 25 million bushels. The seasonaverage farm price was down 5 cents to $7.10.

Livestock, Poultry and Dairy

In the monthly WASDE, red meat and poultry production estimates were raised from last month. Beef production was raised on heavier expected weights and higher slaughter totals. Pork production was raised on higher slaughter totals as projected in the Quarterly Hogs and Pigs report that showed strong growth in pigs per litter. Broiler production was raised based upon production and hatchery data. Beef and pork export projections were raised based on strong exports reported early in 2024. Broiler exports were lowered based upon recent trade data and expectations that higher prices could affect trade. The milk production forecast for 2024 was lowered on slower expected growth in milk per cow. Fat basis exports were raised on strong international demand for butter and price competitiveness of U.S. cheese. Skim-solids basis exports were lowered as fewer expected shipments of lactose and whey products more than offset higher shipments of nonfat dry milk and cheese. Class III prices were lowered due to lower cheese and whey price forecasts. Class OV prices were raised due to higher butter prices. The all-milk price for 2024 was projected to be $20.90 per cwt.