Farm Bureau Press for May 8

MARCH 8, 2020 • VOLUME 23 • ISSUE 9

Farm Bureau Press A PEEK INSIDE

ARFB DONATES $50,000 TO RONALD MCDONALD HOUSE Arkansas Farm Bureau’s Women’s Leadership Committee and the Farm Bureau Foundation have donated $50,000 to the Ronald McDonald House Charities (RMHC) of Arkansas to help offset projected shortfalls as a result of COVID-19.

The ArFB Women’s Leadership Committee has a lengthy history of support for the Ronald McDonald House, which provides a “home-away-from-home” for more than 38,000 families sent to Little Rock for life-saving medical care for their child.

“We have a relationship with the Ronald McDonald House that extends more than 20 years,” said Magen Allen of Bismarck, chair of the ArFB Women’s Leadership Committee. “As a result of the public health measures that have been put in place, they have seen a significant drop in donations.

Arkansas 2020 Century Farm Applications, page 2

“We wanted to expand our support during a time of great need. This follows Continued on page 2

Economic Injury Disaster Loans Available to U.S. Agricultural Businesses, page 3

FOLLOW US ONLINE Ronald McDonald House Donation | Women’s Leadership Committee presented the check at the ArFB Center. In attendance (from left) were Amanda Williams, Director of Women’s Leadership & Foundation; Janell Mason, Executive Director of RMHC of Arkansas; Magen Allen committee chair, and Kerry Stiles, committee vice chair.

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A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

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RONALD MCDONALD DONATION Continued from page 1

on the heels of a $500,000 donation to the food banks of Arkansas by the Farm Bureau insurance companies, as we work to help others move through the challenges presented by COVID-19.”

The ArFB Women’s Leadership Committee annually provides a financial contribution to the Ronald McDonald House, feeds the residents once a year and also was a major contributor to the construction of the new facility in 2016.

“This amazingly generous gift from our longtime friends at the Farm Bureau will be utilized to provide all the things families need while they are staying with us at the Ronald McDonald House,” said Janell Mason, executive director of the Ronald McDonald House Charities of Arkansas.

“From healthy snacks and meals, to sanitizing and cleaning supplies, to additional staffing when we are unable to allow our amazing volunteers in the House.

“With an estimated shortfall of just over $70,000 now – due to canceled fundraisers, lack of donated supplies and meals – their meaningful support will ensure no child has to face treatments at the hospital without mom by their side.”

ArFB’s Women’s Leadership Committee plays a vital role in the mission of the county and state Farm Bureau organizations. They conduct community-based activities and programs involving Ag in the Classroom, farm tours, commodity promotion, safety, health and agricultural policy.

The mission of the Arkansas Farm Bureau Foundation is to further understanding of agricultural and rural issues, and to support the agriculture and rural community through financial support for education, research, litigation and disaster relief.

The Ronald McDonald House in Little Rock is a 32-bedroom “home-awayfrom-home” that provides housing and services to over 1,200 families each year who are sent to Little Rock for medical care for their critically ill or injured child. The Ronald McDonald Care Mobile is a 40-foot, state-of-theart mobile unit that provides free, full-service dental care and education to children who would not otherwise have access to dental care. The Ronald McDonald Family Room at UAMS is a 2,000 square foot space in the center of the NICU that provides a place for families with a critically-ill baby to stay together.

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A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

2020 ARKANSAS CENTURY FARM APPS The Arkansas Department of Agriculture is now accepting applications for the 2020 Arkansas Century Farm program. This program recognizes Arkansas families who have owned and farmed the same land for at least 100 years. There is no cost to apply.

To qualify, Arkansas farms must meet the following criteria: • The same family must have owned the farm for 100 years

by Dec. 31, 2020. The line of ownership from the original settler or buyer may be through children, grandchildren, siblings, and nephews or nieces, including through marriage and adoption.

• The farm must be at least ten acres of the original land acquisition and make a financial contribution to the overall farm income.

Arkansas is home to more than 42,500 farms, of which 97 percent are family owned and operated. Since the Arkansas Century Farm program began in 2012, 464 farms have been certified.

Online and printable applications are available at www.agriculture. arkansas.gov/arkansas-centuryfarm-program. Applications must be postmarked on or before May 31, 2020 to be eligible for designation as a 2020 inductee.

Contact Mary Elizabeth Lea at 501-219-6363 or maryelizabeth. lea@agriculture.arkansas.gov with questions.

ECONOMIC INJURY DISASTER LOANS AVAILABLE TO U.S. AGRICULTURAL BUSINESSES The U.S. Department of Agriculture Secretary Sonny Perdue a week ago applauded the announcement that agricultural producers, for the first time, are now eligible for the Small Business Administration (SBA)’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs.

“America’s farmers, ranchers, and producers need the same help that other American businesses need during this unprecedented time,” said Secretary Perdue. “This significant new authority signed by President Trump will make a tremendous difference for America’s agricultural community.”

SBA’s EIDL portal has been closed since April 15. However, the Agency is able to reopen the portal, in a limited capacity, as a result of funding authorized by Congress through the Paycheck Protection Program and Healthcare

Enhancement Act. The legislation, which was signed into law by the President, provided additional critical funding for farmers and ranchers affected by the Coronavirus (COVID-19) pandemic.

In order to help facilitate this important change to EIDL Loan and EIDL Advance assistance eligibility, SBA is re-opening the Loan and Advance application portal to agricultural enterprises only. For agricultural producers that submitted an EIDL loan application through the streamlined application portal prior to the legislative change, SBA will move forward and process these applications without the need for re-applying. All other EIDL loan applications that were submitted prior to April 15 will be processed on a first-in, first-out basis.

For more information, visit www.sba.gov/disaster.

AFGC WRICE PROGRAM The Arkansas Game and Fish Commission (AGFC) and Natural Resources Conservation Service are offering financial incentives to rice producers through the Voluntary Public Access and Habitat Incentive Program to allow public access to their land for hunting and other wildlife-dependent recreation.

The Arkansas Waterfowl Rice Incentive Conservation Enhancement (WRICE) program was developed by AGFC biologists to help keep waste rice available for ducks, geese and other migrating birds when they pass through each winter. It has recently been expanded to allow weekend permitted public waterfowl hunting opportunities on participating rice fields. Farmers may still operate and harvest their rice fields as normal, but can receive added income by leaving stubble and flooding fields during waterfowl migration, and allowing permitted public hunting opportunities.

Winter-flooded rice fields and managed seasonal wetlands provide many of the same wetland functions for waterfowl and other wildlife. However, food for ducks in rice fields has been substantially reduced due to changes in production methods and rice varieties. Fall tillage also has reduced waste rice and other foods available to waterfowl.

The WRICE program seeks to: • Help farmers increase waterfowl food in harvested rice fields without financial burden.

• Provide permitted waterfowl hunting opportunities on rice fields within the Mississippi Alluvial Valley (MAV), Arkansas River Valley (ARV) and Red River corridor.

• Offer public hunting and wildlife viewing opportunities on Wetland Reserve Easement/Program properties within these same regions.

Program Requirements • Participating landowners and farmers will receive incentive payments for the following activities: • Providing shallow water throughout the waterfowl wintering period on harvested rice fields within 10 miles of waterfowl-focused wildlife management areas and national wildlife refuges (see map).

• Allow permitted waterfowl hunting and wildlife viewing through Feb. 28.

• Offer public hunting and wildlife-viewing opportunities on Wetland Reserve Easement/Program properties.

To learn more about Program Requirements and Payments and to apply, visit https://bit.ly/2020WRICEProgram. For addition information, two WRICE program webinars will be held May 12 and May 28 at 6 p.m. on Google Meet, meet. google.com/zkh-vuto-ovx, and by phone,1- 513-816-1275, PIN: 325 196 313#.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

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MARKET NEWS as of May 7, 2020 Contact Brandy Carroll 501-228-1268 brandy.carroll@arfb.com

Cattle Cattle futures continue to recover, supported by wholesale beef prices.

Plant closures related to Covid-19 outbreaks are expected to cause shortages of beef, and wholesale beef prices have skyrocketed as a result. Efforts are underway to reopen plants, but USDA has not yet enacted the Defense Production Act at this time. The Department of Justice is now investigating the historically wide spread between the price paid to farmers for animals and the wholesale price packers are charging for processed beef. October live futures are testing the water above previous resistance at $100 and will have resistance at the spike high of $103.42 on further strength. August feeders could head toward a retest of resistance at $139.

Hogs Hog futures continue to rally as the supply chain sees major interruptions. Plant closures due to Covid-19 have significantly reduced slaughter capacity in the U.S. Slaughter totals are estimated to be around 150,000 head per day smaller than last year. As a result, composite pork cutout values continue to increase as do packer margins for those still in operation. USDA has reported sales of 40,200 metric tons of pork to China during the week ended April 30. China’s purchases of U.S. pork for 2020 delivery now total 464,500 metric tons. Technically, the June contract has failed at resistance at $67.55 for the time being, which is 4

the bottom of a significant chart gap left in March as the market collapsed.

Corn Corn futures have seen some strength this week, but for now the trend appears to be sideways as prices consolidate and work on building support at contract lows set in April. That support is at $3.00 for old-crop July and $3.25 for December. Recent strength in crude oil futures and U.S. stock indexes have provided some support.

News that U.S. and Chinese trade negotiators will meet to discuss the Phase 1 trade deal and review the commitments made as a part of the deal is also providing some support for markets. Weekly export sales of 774,600 metric tons for 2019/20 delivery and 97,500 for 20/21 delivery. On Thursday, USDA reported a sale of 686,000 metric tons to China, which was huge news and will be included in next week’s total. Of that, 371,000 metric tons were for 2019/20 delivery and 315,000 were for 2020/21 delivery. Expectations for a huge crop this year and recordhigh ethanol stocks will continue to loom over the market, limiting upside potential. So far, the weather is cooperating with farmers, who have now planted 51% of the crop nation-wide, compared with a 5-year average of 39%.

Soybeans Soybeans have seen some strength this week, but like corn, so far the trend is more sideways than up. The spike low of $8.31 looks like solid support for November for now, but the market is having trouble challenging resistance at $8.60.

Weekly export sales totaled 653,100 metric tons for 2019/20, and 177,500 for 2020/21. Planting progress is off to a good start, with 23% of the crop planted nation-wide, compared with a 5-year average of 11%. However, potentially freezing temperatures across parts of the country could slow things down and require some

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

re-plants.

Rice Rice futures have seen wild price swings in recent days. Old-crop July closed back above the $15 level, a positive technical signal. The 2019 crop was smaller than average, and demand remains strong, supporting prices. Weekly exports were a solid 61,500 metric tons, and shipments were 74,100 metric tons. New crop futures, however, are trading at a significant discount. The 2020 crop is forecast to be significantly larger than the 2019 crop, which is limiting the upside potential. September futures need to close above resistance at $11.96 to suggest further gains are possible. USDA says Arkansas farmers have seeded 48% of intended acres by the week ended May 3, 2020, compared with a 5-year average of 71%.

Cotton Cotton futures continue to recover from losses due to the global pandemic. Cotton has been under pressure from a sharp decrease in demand due to mill closures around the world, resulting in a 90% decline in orders for U.S. cotton yarn and fabric. Demand has improved over the past two weeks, with USDA reporting net sales last week of 370,200 bales for 2019/20 delivery and 217,500 bales going to China.

New crop sales were 55,900 bales.

Farmers have now seeded 18% of the crop nationwide, which is in line with the 5-year average of 17%.

Arkansas farmers are at 11% planted, compared with a 5-year average of 21%. December is building resistance at the recent high of 59.50 cents and support just above 54 cents.

EDITOR Ashley Wallace ashley.wallace@arfb.com