Farm Bureau Press | February 4

FEBRUARY 4, 2022 | VOLUME 25 | ISSUE 3

Farm Bureau Press A PEEK INSIDE

BOOZMAN TO BE AWARDED GOLDEN PLOW BY FARM BUREAU U.S. Senator John Boozman of Arkansas will be presented with the Golden Plow award by the American Farm Bureau, the highest honor the organization gives to sitting members of Congress. He will receive the award at Arkansas Farm Bureau’s annual Young Farmers & Ranchers conference on Feb. 4.

American Farm Bureau President Zippy Duvall and ArFB President Rich Hillman will present the award.

Boozman becomes the third Arkansan to earn the Golden Plow, following Sen. David Pryor (1989) and Sen. Blanche Lincoln (2008).

Sen. John Boozman (right), shown during a farm visit with Joe Thrash, will be awarded the Golden Plow award by the American Farm Bureau.

Boozman serves as ranking member of the Senate Agriculture, Nutrition and Forestry Committee. in his second term as senator after five terms in the U.S. House of Representatives, he is a 10-time Friend of Farm Bureau, awarded to members of Congress who have supported Farm Bureau’s policy position issues. Boozman supported the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provided vital support for the agricultural community during the coronavirus pandemic. It delivered $9.5 billion in emergency support for agricultural producers.

The senator played a key role on the inclusion of poultry growers in the Coronavirus Food Assistance Program (CFAP), an unprecedented benefit for contract growers, who have been excluded from federal support programs

ArFB Responds to EPA renewal, page 2

ArFB Foundation Disaster Relief, page 3

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A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

GOLDEN PLOW AWARD Continued from page 1

historically because they do not own the birds they raise. This action resulted in almost $1 billion in federal assistance to support poultry growers who were seeing reduced flock placement because of supply chain challenges that resulted during the COVID-19 pandemic.

Boozman has led efforts to improve United States Department of Agriculture (USDA) child nutrition programs and provide flexibility for school districts and community partners to reach children in rural areas and help them get needed nutrition when school is out of session for the summer. During the coronavirus pandemic, provisions from his legislation were implemented by USDA as a waiver to ensure students have access to healthy and nutritious meals.

ArFB RESPONDS TO EPA RENEWA This week, the EPA granted a seven-year registration renewal for Enlist One and Enlist Duo, labeled for over-the-top use in Enlist corn, cotton and soybeans. However, the renewal included an Endangered Species Act Protection Policy, restricting the use in 11 western Arkansas counties.

The regulatory affairs team at Arkansas Farm Bureau is actively monitoring and exploring solutions to address the recent EPA

ArFB FOUNDATION DISASTER RE The Arkansas Farm Bureau Foundation presented $20,000 in donations to four northeast Arkansas communities to help with December tornado damage. The funds were distributed to local relief efforts in Craighead, Mississippi, Poinsett and Woodruff counties.

As a co-chair of the Senate Hunger Caucus, Boozman has led efforts to combat hunger in the United States and across the world, including the Global Food Security Act of 2016 and the Global Food Security Reauthorization Act of 2017.

Throughout his time in office, Boozman has advocated for expanded business development and job training opportunities in rural areas. His position on the Senate Committee on Appropriations allowed him to secure $2.8 million for the Appropriate Technology Transfer for Rural Access (ATTRA) program for Fiscal Year 2021. This program connects Arkansas agricultural producers to information that helps them improve their operations. ATTRA also administers the Armed to Farm program that assists veterans in transition to civilian life by training them for a career in farming. The program has a regional headquarters located in Fayetteville.

Boozman served as a conferee on the 2018 Farm Bill Conference Committee, where he helped craft the compromise legislation between the Senate and House of Representatives. During the last Farm Bill negotiations, he ensured the final version provided a workable safety net for farmers and ranchers.

The Farm Bill Conference Report included several provisions he authored, including Supplemental Nutrition Assistance Program (SNAP) reform, trade promotion funding for marketing U.S. agriculture products in Cuba, regulatory reform and many other priorities for Arkansas agriculture.

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Mississippi Co. Donation | (From left) ArFB’s Justin Reynolds and Amanda Williams presented a check for disaster relief to Leachville Mayor Rodney Robertson.

Poinsett Co. Donation | Poinsett County Farm Bureau Agent Kalee Benson (right) presented a disaster relief check to Mary Ruth Mathews (left), secretary, and Bro. Jim Duffle, pastor of Maple Grove Baptist Church.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

AL action on Enlist. Our immediate concern is the impact this decision will have on Arkansas farmers who have already made planning and purchasing decisions for this growing season.

We have issued a letter to the EPA and expressed concern to our congressional delegation, making it clear that this decision sets a dangerous precedent, impacting farmers already fighting numerous battles across the market.

ELIEF An intense supercell spawned a series of tornados in northeast Arkansas on the evening of Dec. 10, including one that has been rated as EF-4 by the National Weather Service. It’s considered the strongest tornado in Arkansas since the Roland/Mayflower/ Vilonia EF4 in April 2014.

Poinsett Co. Donation | Poinsett County Farm Bureau Agent Kalee Benson (right) presented a disaster relief check to Jay Paul Woods with the Southern Baptist Disaster Relief Chapter.

Woodruff Co. Donation | (From left) ArFB’s Justin Reynolds and Amanda Williams, along with Woodruff Co. Farm Bureau agency manager Bobby Bowen (right), recently presented a check to Augusta Mayor Jeff Collins.

Benton Co. Farm Bureau Week | Judge Barry Moehring and the Benton County Farm Bureau recently signed a declaration for Farm Bureau Week. (From left) County Board member Cody Anglin, Charlie Coffilt, County Judge Barry Moehring, Agency Manager Doug Miller and ArFB District Director Jeremy Miller were on hand for the signing.

Craighead Co. Donation | Craighead County Farm Bureau partnered with several other county Farm Bureau offices to donate $3,100 to the Food Bank of Northeast Arkansas Acre of Hope Fundraiser. Board President Jeffrey Tubbs and Agency Manager Mark Horton made the presentation.

Sebastian Co. Farm Bureau Week | Judge Hudson presented a proclamation for Farm Bureau Week to Sebastian County Farm Bureau. Accepting the proclamation were Agency Manager Shane Medford and county board members Massie Silva, Mark Williams, Joe Silva, Brian Holland, Lynn Strang, Danny Dalmut and Terry Williams.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

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MARKET NEWS as of February 2, 2022 Contact Brandy Carroll 501-228-1268 brandy.carroll@arfb.com Soybeans Soybeans continue to trend higher, charting big gains and setting new contract highs again this week. Dry weather in South America continues to be the big market driver as private estimates continue to forecast decreased production in Brazil.

December 2021 set the monthly record for soybean crush. Demand for biodiesel has been strong as well, improving demand for soybeans.

Record-high palm oil prices have also been supportive for soy oil. Soybean meal prices have also surged in recent days, negating bearish chart signals and moving to new highs. The market will be closely watching farmer planting intentions. Private estimates are suggesting a big increase in soybean acres, and if that is indeed the case, the market is overpriced.

Corn Corn futures have found renewed strength in recent days, supported by strength in soybeans and crude oil futures. Weather concerns in South America have also been supportive.

Robust export sales continue, with weekly net sales for last week coming in at 48.7 million bushels. Ethanol prices have dropped, however, as have plant profits. The project stocks-touse ratio of 10.4% does suggest there isn’t much upside left at current price levels. March set a new high of $6.42 on Monday in the process of charting a key reversal. While there hasn’t been much follow-through selling at this point, it could be a sign the market is topping. There isn’t much support above $5.84¾. New crop December, however, continues to trend higher 4

and set a new high on an almost daily basis.

Cotton Cotton continues to set new 10½-year highs. March is now approaching $1.30 per pound, and new crop December has finally topped the $1.00 mark this week. The market is being supported by crude oil futures, which are currently trading at 7-year year highs, making competing fibers all the more expensive. Weakness in the dollar is seen as positive since it makes our cotton more competitive in foreign markets. Weekly export sales of 391,300 bales of old crop cotton and 106,800 bales of new crop cotton and shipments of 197,900 bales were all bullish and gave the market a boost. Vietnam and India were the top buyers.

Rice Rice futures have been volatile in recent days. Nearby March opened to huge losses last Friday, only to climb higher all day and close slightly higher. Prices soared on Wednesday, setting a new contract high and a new 18-month high on a front month basis. Export demand, which has been somewhat lackluster, picked up last week with sales of 75,500 metric tons and shipments of 62,500 metric tons.

Overall, global demand is solid for rice, which is a key food staple around the world.

Cattle USDA pegged December 2021 cattle placements at 105% of the 2020 number. Futures reacted swiftly, moving to 2½ month lows. The weakness was short-lived, though, as USDA reported on Monday that the Jan. 1 cattle inventory was down 2% from a year ago. April futures have moved to a new high above previous resistance at $145.85. Packer margins remain strong and weekly cattle movement was solid last week. Winter weather could hinder movement this week, though.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

Poultry In the monthly supply/demand report, USDA raised its broiler production estimate for 2021 on recent slaughter data while turkey production was unchanged from the previous month. Egg production was reduced on slightly lower table egg production. For 2022, the firstquarter poultry forecast was raised on higher expected broiler production and hatchery data. Broiler export forecasts were reduced on slower expected global demand. For 2022, broiler, turkey and egg price forecasts were raised based upon current prices and expectations for continued firm demand.

Dairy In the January supply/demand report, the 2021 milk production estimate and the 2022 were unchanged from the previous month. On a fat basis, the 2021 import estimate and the 2022 forecast were raised from last month on recent trade data and higher imports of cheese and butter fat products while exports for 2021 and 2022 were reduced. On a skimsolids basis, the 2021 import estimate was raised on recent trade data and higher imports of cheese and milk proteins. The 2022 skim-solids basis import forecast was also raised. The 2021 skim-solids basis export estimate was raised on recent trade data while the 2022 forecast was lowered on slower expected global demand for skim milk powder. For 2022, cheese, butter, nonfat dry milk and whey price forecasts are raised from last month on firm domestic demand and tight supplies. Class III and Class IV prices for 2022 are raised from the previous month on higher dairy product prices.

The 2022 all milk price forecast is raised to $22.60 per cwt.

EDITOR Ashley Wallace ashley.wallace@arfb.com