FEBRUARY 9, 2024 | VOLUME 27 | ISSUE 3
Farm Bureau Press A PEEK INSIDE
ARKANSAS FARM BUREAU HOSTING REGIONAL PROGRAM MEETINGS The first of eight Arkansas Grassroots Leadership (AG Leaders) regional meetings was held Jan. 31 in Hot Springs. Representatives from Saline, Garland, Perry and Pulaski County attended the new leadership development program meeting. Seven additional regional meetings are planned for around the state: Jonesboro | Feb. 15 – Craighead Co. Farm Bureau Monticello | Feb. 20 – Drew Co. Farm Bureau Brinkley | Feb. 28 – Brinkley Convention Center Ft. Smith | March 14 – U.S. Marshall’s Museum Hope | March 26 – Hempstead Co. Farm Bureau Mt. View | March 27 – Stone Co. Fairgrounds Harrison | March 28 – Boone Co. Farm Bureau
Creating and Processing Value-Added Food Products Webinar, Page 2
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AG Leaders is designed to provide training and resources to new and potential county Farm Bureau leaders. If you, or members in your county, are interested in participating, you can register online.
Ag in the Classroom, Page 3 • ArFB Mini Garden Grant Applications • AFBF Book of the Year
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GET THE LINKS Scan the QR code to access direct links referenced in each article. A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION
FEDERAL COURT VACATES DICAMBA LABEL
YF&R Conference | A photo recap from the 2024 Young Farmers & Ranchers conference held Feb. 9 and 10 can be found here.
The U.S. District court of Arizona in Tucson ruled Feb. 6 that the U.S. Environmental Protection Agency unlawfully approved dicamba for over-the-top application to soybean and cotton crops genetically engineered to be tolerant to the product. The court decision states that EPA did not follow the FIFRA notice and comments provisions when it issued the registrations. The case was filed by four organizations: The Center for Food Safety, Center for Biological Diversity, Pesticide Action Network, and the National Farm Family Coalition. The ruling vacates the 2020 registrations for Bayer XtendiMax, BASF Engenia, and Sengenta Tavium. The decision means U.S. farmers will not be able to use any of these products for weed control or pre-plant burndowns. Older formulations of dicamba labeled only for burndown application are not affected.
Service Award | Jack Norton (left) of Lincoln was recognized Feb. 7 for his 30 years of service as a trustee of the Romeo E. Short Memorial Scholarship Foundation. Kenneth May of Rose Bud, chairman of the Foundation, presented the award. Norton is spent more than 60 years on the Washington Co. Farm Bureau board of directors. He served from 1985-95 as a state board member in addition to his time on the Short Foundation.
Statements from the companies affected indicate they are working with EPA to assess their options and that additional legal action and appeals could follow the ruling.
TRADE CAUCUS PRESENTS OPPORTUNITIES FOR AGRICULTURE White Co. Leadership Award | As part of a Meet & Greet event Jan. 30 night between farmers, ranchers and elected officials, Sen. Jonathan Dismang of Searcy was presented the Legislative Leadership Award by Arkansas Farm Bureau President Dan Wright (left) of Waldron and White County Farm Bureau President Johnny Wheetley (right) of Judsonia. Sen. Dismang has offered continued leadership and consistent efforts on behalf of farmers and ranchers in the Arkansas General Assembly. The event was held at the White County Cooperative Extension Service office and hosted by White County Farm Bureau. 2
American Farm Bureau Federation President Zippy Duvall commented Jan. 31 on the launch of a new Agriculture Trade Caucus in the House of Representatives. “AFBF appreciates House lawmakers for coming together in a bipartisan manner to form an agriculture trade caucus, he said. "We have a real opportunity to showcase American agriculture on the global stage. Expanded trade agreements will help ensure America’s farmers and ranchers remain economically sustainable by providing access to new markets as they feed families around the world.”
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ARKANSAS FARM BUREAU NOW ACCEPTING MINI GARDEN GRANT APPLICATIONS Applications are now being accepted for the ArFB Outdoor Classroom Garden Mini-Grants. The program is designed to show that agriculture is an integral part of our everyday environment and can demonstrate the connection between agriculture, food, fiber,
conservation, wildlife and the urban environment. Applications are being accepted through Feb. 15. Programs will receive up to $500 for new gardens, and up to $250 for on-going garden projects. More details and an application can be found online.
AG IN THE CLASSROOM BOOK OF THE YEAR The goal of the Ag in the Classroom program is to increase agricultural awareness among students in schools throughout Arkansas. To accomplish this, a reading program was developed with an emphasis on agriculture using children’s books. The 2024 Ag in the Classroom Book of the Year is “My Grandpa, My Tree, and Me” by Roxanne Troup and illustrated by Kendra Binney. The story follows a little girl who watches her grandfather care tenderly for his orchard of pecan trees through every season. The grade level for this book is Pre-K – 3rd grade. An education guide is also available in limited supply. You
may choose to read the book to a school classroom or donate to a school or public library, this is an excellent opportunity to introduce an agriculturally themed book to students and teachers. The book may be ordered through your county Farm Bureau office using the Arkansas Farm Bureau intranet or online here.
ARKANSAS FARM BUREAU'S CRAIG ELECTED TO PUBLIC HEALTH ADVISORY COMMITTEE Jennifer Craig, Arkansas Farm Bureau's Director of Leadership Development, was recently elected to the UAMS College of Public Health (COPH) Advisory Board at its meeting on Jan. 9. She is a 2018 graduate of the COPH with a Master of Public Health. The advisory board is a diverse group of external community leaders, known for their vision, commitment to public health, UAMS and Arkansas. The board is composed of leaders in education, state government, the business community, health care, law and the nonprofit world who embrace the importance of public health and the college. The board members’ responsibilities include: participating in quarterly meetings; supporting COPH strategies and creating opportunities for COPH students and faculty; assisting in developing financial resources that meet the mission of the COPH; recruiting future board members and serving as advocates for UAMS and COPH in the broader community.
Jennifer Craig
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MARKET NEWS as of February 7, 2024 Contact Brandy Carroll
brandy.carroll@arfb.com
Tyler Oxner
tyler.oxner@arfb.com
Rice Old crop rice futures continue to climb, setting new highs a few times a week. Export sales have been fueling the rally. Asian prices are strong, making U.S. rice more competitive. Last week, however, exports of 42,100 metric tons were down 24% from the prior four-week average. The export restrictions set by India last year continue to have an impact on the global market, and it was announced last week that the restrictions will be in place until at least the fall. The first resistance for March futures is the high of $18.58. New crop futures are not seeing the same support at the moment. Input costs are down and the moisture situation in California is much improved. The market is waiting for planting intentions to be clear but the situation in India will keep food security concerns top of mind. Cotton Strong demand both on the domestic front and from export customers has led to nearly fourmonth highs in cotton futures. Weekly export sales of 349,400 bales was up 37% from the four-week average. China accounted for more than a third of that total. Shipments last week set a marketing year high of 349,400 bales. March cotton has traded as high as 88 cents, and the contract high near 90 cents is the target for bulls. New crop December futured are challenging resistance at 82.50 cents. The recent rally could help attract acres as farmers finalize their planting decisions, 4
but this week’s Arizona court ruling vacating the label for over-the-top application of dicamba products for the 2024 crop will obviously have an impact on planting decisions, too. Corn Prices have moved lower with bear spreading noted as traders got ready for the Goldman roll, which started on Wednesday. Support for March 2024 rests at $4.36, with resistance at $4.53. Spot corn prices approach long-term support, backed by a record net-long position on the commercial side of the market. However, the market lacks a bullish trigger to prompt speculators to exit their short positions, almost a four year high, typically requiring a surprise event. Export inspections at 25 million bushels fell below expectations and the pace needed to meet the USDA export forecast of 2.10 billion bushels. The USDA announced the sale of 155,000 tons (6 million bushels) of corn to Mexico. Brazil’s second crop prospects have improved, putting a damper on any rally attempts. Soybeans Prices have been mixed, with several contracts near session highs. Beans saw some gains, with noted bull spreading. March 2024 beans hit a fresh 7-month low this week before rebounding, with key support near $11.75 and resistance at last week's high of $12.23. With significant bearish challenges facing U.S. soybean prices in early 2024, the trend for July soybeans remains downward. Weather concerns persist in Argentina due to extreme heat and limited rainfall, elevating stress levels. Conditions in Brazil are mostly favorable, but dryness concerns are growing in the interior south. Export inspections at 52 million bushels exceeded expectations and the pace needed to reach the USDA export forecast of 1.755 billion bushels.
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Wheat Prices across all three classes were mostly down this week, but spot March 2024 contracts remained within range of last week's low. Technically, a close above the 100day average at $6.53 for March KC wheat could prompt speculators to cover, but until then, prices are expected to trade within a narrow range. Beneficial rains fell over the U.S. southern plains, Gulf Coast, and delta regions, alleviating drought concerns and replenishing moisture reserves for the U.S. winter wheat crop. U.S. export inspections at 10 million bushels were as expected but below the 15 million bushels needed weekly to meet the USDA export forecast. Turkey’s Foreign Minister states its president will meet with Russian Pres. Vladimir Putin next Monday to discuss the war with Ukraine and the Black Sea Grain deal. Cattle The USDA released its semi-annual Cattle Inventory report last week and confirmed the continued liquidation of the U.S. cattle herd. All cattle and calves as of Jan. 1 were 98.1% of a year earlier, which is the lowest total since 1951. Beef cows were 97.5% of the previous U.S. year’s total, which is the lowest total since 1961, and the calf crop was 97.5%, the lowest since reporting began in 1977. The supply of beef replacement heifers was only 98.5% of last year, and the lowest total since 1950. That was all within pre-report estimates, so not a huge surprise to the market, but potentially bullish nonetheless. June futures are moving higher, but have long standing resistance at a chart gap between $183.40 and $184.20.
EDITOR Ashley Wallace ashley.wallace@arfb.com