Farm Bureau Press | September 1

Farm Bureau Press

ARKANSAS FARM BUREAU LAUNCHES AG INNOVATION CHALLENGE

Arkansas Farm Bureau has launched the Ag Innovation Challenge, a statewide business competition that showcases Arkansas startups developing innovative solutions to address challenges facing Arkansas farmers, ranchers and rural communities. The challenge is presented in partnership with Farm Credit Associations of Arkansas. The application window is open now and closes Oct. 8.

Challenge applicants must represent a for-profit business and submit a business plan, business pitch, product images and other assets for review. Judges will review all applications and select five semi-finalists to present at the Arkansas Farm Bureau Annual Meeting on Nov. 30 with a winner and runner-up announced at the meeting in Little Rock.

Continued on page 2

H W

TO WIN AN ELECTION

Disaster Relief Donation | The Arkansas Farm Bureau Foundation board of directors voted to make a $10,000 donation to aid in the replenishment of local food banks/ pantries, after the tornadoes that hit in Lonoke and Pulaski counties. ArFB gathered Aug. 30 with the Arkansas Foodbank, county and elected officials to present donations. Taking part in the donation were Brian Burton, Arkansas Foodbank CEO; Rep. Jim Wooten, District 59; Sherri Jones, Arkansas Foodbank; Clint Miller, Lonoke Co. agency manager; Sarah Riffle, Arkansas Foodbank; Rep. Karilyn Brown, District 55; Jarrod Yates, ArFB EVP; Mike Freeze, ArFB vice president; Rep. Andrew Collins, District 73; Steven Rikard, Pulaski Co. agency manager; Rep. Tippi McCullough, District 74; Rich Hillman, ArFB President, and Dan Wright, ArFB secretary/ treasurer.

FOLLOW US ONLINE

ArFB to Host How to Win an Election Seminar, Page 2

New WOTUS Rule Still Unfair to Farmers, Page 3

A r FB AG INNOVATION

Continued from page 1

“We’re excited to hear from Arkansas-based companies who are investing in innovative solutions that serve our members,” says Philip Powell, director of local affairs and rural development at Arkansas Farm Bureau. “We continue to search for ways to bring value and build community for our members and I’m hopeful this competition will advance the work we’re doing in a meaningful way.”

Cash prizes totaling $15,000 will be awarded to the top two businesses, with the winner receiving $7,500 and the runner-up earning $5,000. There will also be a People’s Choice award winner to be awarded $2,500.

Entrepreneurs entering the contest must be 18 and a current member of Arkansas Farm Bureau.

The Ag Innovation Challenge application can be found online. For more information, contact Philip Powell at Philip.Powell@arfb.com

ARKANSAS FARM BUREAU WEEKLY FUTURES UPDATE

Stay informed and stay ahead with Arkansas Farm Bureau's Weekly Futures Update. Receive concise and easy-to-understand summaries of the latest agricultural trends and insights. Track market data, key indicators, historical trends, and other valuable information to optimize decision-making and cultivate success in the market.

The goal is to equip readers with the knowledge needed to navigate the dynamic world of crop markets effectively.

To signup, text ARFBFUTURE to 52886.

A r FB TO HOST HOW TO WIN AN ELECTION

Arkansas Farm Bureau and the Arkansas State Chamber of Commerce/Associated Industries of Arkansas are hosting a two-day seminar on “How to Win an Election”. The seminar will be held on Oct. 17-18 at the Arkansas Farm Bureau office in Little Rock. Candidates, their spouses and campaign managers from all parties are invited to attend the seminar, which designed to equip candidates with the skills needed to run a successful campaign. With the assistance of staff members from the Democratic and Republican parties the program has helped previous attendees achieve an impressive 75-percent winning percentage.

HTO WIN ELECTION

During the seminar, attendees will learn vital strategies such as

A r FB CONVENTION TRADE SHOW

The 89th annual Arkansas Farm Bureau Convention will be held Nov. 29 - Dec. 1 in Little Rock and ArFB is accepting sponsors and exhibitors.

Sponsorship opportunities include the Main Stage, Event Lanyards, Women's Leadership Luncheon, Escalator & Stair, Membership Reception, Wifi, Tradeshow Food & Beverage, President's Breakfast and the Youth Leadership (Discussion Meet).

The trade show will be featured in the Statehouse Convention

ANIMAL AT- LARGE REPORTING FORM

The Arkansas Department of Animal at large online reporting Act 594 which was enacted Assembly and will provide a

Both those who have found notifications with photographs found, and the county in which the Arkansas Department of in the custody of impounders Act 594 was sponsored by Sen. support from the Arkansas agriculture enforcement and resolution and repealed 59 antiquated of the statutes regarding fencing some statutes not being substantially

The Animal at large reporting

selecting a compelling campaign theme, identifying key issues, targeting voters and precincts, developing a winning campaign calendar, fundraising, engaging with special interest groups, media relations and more. To enhance the learning experience, video presentations and a computer-simulated case study for practical application is provided.

NEW WOTUS RULE STILL UNFAIR TO FARMERS

W

WIN AN ELECTION

County board officers are encouraged to attend, and all seminar fees will be waived for officers who would like to participate. County members are also encouraged to attend.

For more information, contact Mark Lambert at 501-519-1209 or by email at mark.lambert@arfb.com

Registration is online. Deadline to register is Oct. 13.

SPONSORS AND EXHIBITORS

Center Nov. 29 - 30 with exhibitor spaces starting at 10 ft. by 10 10 ft. and going as large as 90 ft. by 90 ft. Those spaces include:

• Logo at snack stations and exhibitor lounge in trade show

• Logo on event website and program

• Discounted Foundation Night tickets at $30 each ($60 value each)

For more information on booth space, sponsorships and registration can be found online

FORM NOW AVAILABLE

of Agriculture is pleased to announce the launch of the Arkansas reporting form. This new reporting form was developed to implement during the 2023 Regular Session of the Arkansas General a statewide method of notification of lost livestock.

livestock and those who have lost livestock may post photographs and descriptions of the animals, the dates they were lost or which they were lost or found. The posted information will serve as of Agriculture’s publicly accessible record of all livestock currently impounders within the state.

Sen. Ben Gilmore and Rep. Howard Beaty and had broad agriculture industry. In addition to providing better avenues for resolution of disputes, Act 594 updated, modified, and clarified 27 statutes laws regarding livestock running at large. Prior to Act 594, many fencing and livestock running at large dated back to the 1800s, with substantially altered since the 1940s.

reporting forms can be found here. Act 594 can be found here.

American Farm Bureau Federation

President Zippy Duvall commented on the Biden Administration’s revised Waters of the U.S. Rule.

“EPA had a golden opportunity to write a Waters of the U.S. Rule that’s fair to farmers and stands the test of time, but instead chose to continue government overreach and revise only a small slice of the rule that was rejected by the Supreme Court.

“We’re pleased the vague and confusing ‘significant nexus’ test has been eliminated as the Supreme Court dictated. But EPA has ignored other clear concerns raised by the Justices, 26 states, and farmers across the country about the rule’s failure to respect private property rights and the Clean Water Act.

“Farmers and ranchers share the goal of protecting the resources they’re entrusted with. They deserve a rule that respects farmers as partners in that effort.”

Ag Appreciation Luncheon | ArFB recently hosted its annual Agriculture Agencies Appreciation Luncheon in Little Rock. Agencies and departments from across the state were invited for lunch as a thank you for their partnership.

MARKET NEWS

as of August 30, 2023

Contact Brandy Carroll brandy.carroll@arfb.com

Tyler Oxner tyler.oxner@arfb.com

Cotton

December cotton is currently trading in a relatively sideways pattern between established support above 83¢ and resistance at the 11-month high of 88.83¢. Export demand has been disappointing, and the strength is coming from questions about U.S. production. Only 33% of the crop is rated good to excellent at this point. In Texas, only 12% is rated good to excellent. In the August report, USDA cut more than 2.5 million bales off the production forecast and cut harvested acreage by 910,000 acres. That leaves a production estimate of 13.99 million bales produced on 8.62 million acres. Hurricane Idalia could pose some risk to cotton in the Southeast, especially where bolls are opening.

Rice

After breaking uptrending support in reaction to the August production and supply/demand reports, rice futures are now being driven higher by concerns about global supplies and Asian prices. On top of their ban on non-Basmati rice imports, India has now added a 20% tax on exports of parboiled rice, effective through Oct. 20. African countries are cancelling purchases and using stocks because they can’t pay the higher prices. September futures have moved to their highest level in 6 months and need to close above the February high of $16.56 to suggest further gains are possible. USDA says rice harvest is 25% complete, with most of that progress in Texas and Louisiana. Arkansas producers have 11% of the crop in the bin. U.S. rice production is expected to total 203.6 million cwt, up 2.6 million

from 2022.

Corn

Over the past several weeks, the trajectory of corn futures in the market has maintained a lateral movement, displaying minimal fluctuations. Recent updates on crop conditions, released on Monday, revealed a notable 2% decline compared to the previous week. Despite this dip, the outcome turned out to be more favorable than anticipated. USDA presently rates the corn crop at 56% under the classification of good/excellent. As we transition into the upcoming harvest season, a concerning development involves the gradual decrease in water levels along the Mississippi River. This situation reminds us of a similar problem we faced last year. It might become a big issue for moving grains smoothly in the upcoming fall season.

Soybeans

In recent weeks, there has been a modest upward movement in the futures market for Nov. 23 soybeans. According to the latest information from USDA, as of Aug. 27, 58% of the crop is rated good to excellent, compared to 59% last week. Unfortunately, the weather forecast doesn't appear to provide much relief, as elevated temperatures are expected to persist, negatively impacting the soybean crops. Amidst these challenges, certain factors are contributing to the ongoing upward trend in the price of November soybean futures. One key factor is the heightened domestic demand for soybeans, which continues to exert a positive influence on their market value. Furthermore, the outlook for the weather remains hot, further underpinning the upward trajectory in soybean futures.

Wheat

Wheat prices were mixed, with a general trend higher. This trend can be attributed in part to the anticipation of reduced wheat production potential in Canada for the current season, which

has been characterized by a notable lack of sufficient moisture. For the 2023/24 season, there is a projected uptick of 5.8% in total wheat acreage, reaching approximately 52.679 million acres. If these projections materialize and yields align with the typical trendline average of 49.2 bushels per acre, the outcome would be a collective wheat production of roughly 2.063 billion bushels. These projections underscore the intricate balance between factors such as weather conditions, acreage, and yields.

Cattle

Live cattle futures continue to show strength as cash and wholesale beef prices remain firm and provide support. Packer margins are improving There is concern that recent extreme heat in the plains has had a negative impact on cattle. The August Cattle on Feed report was mostly supportive. The Aug. 1 feedlot inventory was down 2% from the year-ago total. July placements totaled 1.62 million head, down 8% from 2022. However, slow marketings suggest that later in the year supplies will top year-ago numbers. October futures need to take out resistance at $183.72 in order to make another run at the high of $185.75. October feeders set a new high this week of $257.92.

Hogs

Hog futures are attempting to stabilize after recent losses. The October contract is establishing support at $78. Seasonal weakness in cash hog and wholesale pork prices is putting some pressure on prices. Worries that a downturn in China’s economy will impact demand added additional pressure. Lighter hog weights are limiting pork production currently, but both weights and slaughter totals are expected to increase into the fourth quarter.

EDITOR

Ashley Wallace ashley.wallace@arfb.com