OCTOBER 8, 2021 | VOLUME 24 | ISSUE 20
Farm Bureau Press A PEEK INSIDE
ARKANSAS FARM BUREAU FOUNDATION NIGHT IN The Arkansas Farm Bureau Foundation will be hosting our Foundation Night In event during the Arkansas Farm Bureau 87th Annual Convention. The event will be held from 6 to 8 p.m on Dec. 1 at the Statehouse Convention Center, Governors Hall III & I. The meal will be catered by King Kat and will include fried catfish, shrimp and chicken along with all the fixings. The event will also include entertainment and a silent auction. Individual tickets are available for $60, tables of 8 for $400 and VIP tables of 8 for $750. The VIP tables will include premium seating close to the stage, first in line access for the meal and other special gifts.
Governor Appoints New Members to Arkansas State Plant Board, page 2
To reserve space, please contact Amanda Williams, Director of the ArFB Foundation, at 501-228-1493 or amanda.williams@arfb.com by Nov. 18.
ARKANSAS TECH UNIVERSITY RECEIVES AFBF COLLEGIATE MINI-GRANT Arkansas Tech University was awarded one of five of American Farm Bureau's (AFBF) Fall 2021 Collegiate Farm Bureau mini-grants. Other recipients include Northeastern Junior College, Southeastern Missouri State University, Ohio State University and Truman State University. Each chapter will receive $500 to aid in chapter recruitment, leadership development, community service outreach, officer development, purchase of educational materials and/or registration costs for conferences. Since the launch of the program in 2017, AFBF has awarded more than 40 mini-grants through the Collegiate Farm Bureau Program.
Phillips County Soybean Grower Sets New Yield Record: 130 Bushels Per Acre, page 3
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A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION
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CHANGES TO ARKANSAS AGRICULT FOREIGN INVESTMENT ACT EFFEC During the 2021 legislative session, the Arkansas General Assembly enacted Act 1046, which requires foreign persons acquiring an interest in Arkansas agricultural land to file a report with the Arkansas Department of Agriculture. The reporting became effective Oct. 1.
Benton Co. President's Award | Bob and Janice Shofner were recently presented the President’s Award by Benton County Farm Bureau President Jeremy Jackson during the organization’s annual meeting. Bob is a past county Farm Bureau president and Janice is a past women’s leadership committee chair.
Pursuant to federal law, foreign entities are currently required to submit a report to the U.S. Department of Agriculture upon acquiring an ownership interest in agricultural land in the United States. Act 1046 requires that a copy of the federal report regarding acquisition of agricultural land in Arkansas also be
GOVERNOR APPOINTS NEW MEMBE ARKANSAS STATE PLANT BOARD Gov. Asa Hutchinson has appointed new members to the Arkansas State Plant Board to fill positions left vacant under an Arkansas Supreme Court ruling earlier The new members are:
Reward Program | Boone County Farm Bureau and its board members Nick Simon and Joe Pattie and ArFB's Northwest District Director Jeremy Miller recently presented a $2,500 check for efforts in the recovery of stolen items from one of Boone County’s insureds and conviction of the offender. The cash award is part of the Arkansas Farm Bureau Member Benefit Rewards Program. UAEX Retirement | Dr. Mark Cochran, Vice President of Agriculture for the University of Arkansas, Division of Agriculture, was presented several gifts of appreciation recently for his retirement after 39 years of service to Arkansas agriculture. ArFB President Rich Hillman presented the awards after a recent board dinner in Little Rock.
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• Matthew Marsh, Cammack Village: Practical rice grower, actively and principally engaged in the production of rice. • Mark Morgan, Clarksville: Practical horticulturist or nurseryman, actively and principally engaged in the business. Nominated by the Arkansas State Horticultural Society and the Arkansas Green Industry Association. • David Gammill, Tyronza: Practical corn, peanut, sorghum, turf or wheat grower, actively and principally engaged in the production of corn, peanuts, sorghum, turf or wheat. • Matt Miles, McGehee: Practical soybean grower, actively and principally engaged in the production of soybeans. • Mark Hopper, Mountain Home: Representing pest control operators. Nominated by the Arkansas Pest Management Association. • Marty Eaton, Jonesboro: Seed dealer, actively and principally engaged in the business. Nominated by the Arkansas Seed Dealers’ Association. • Lance Schmidt, Pocahontas: Seed grower, actively and principally engaged in the business. Nominated by the Arkansas Seed Growers Association. • Mark Hartz, Stuttgart: Representing agricultural aviators. Nominated by the Arkansas Agricultural Aviation Association.
A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION
TURAL CTIVE OCTOBER 1 submitted to the Arkansas Department of Agriculture. The Arkansas law also contains a penalty of up to 25% of the fair market value of the land for failure to file the required report. Copies of the federal report required under Act 1046 should be submitted to Cami Davis, cami.davis@agriculture.arkansas. gov. For more information, contact the Arkansas Department of Agriculture at 501-225-1598. A copy of Act 1046 can be found at agriculture.arkansas.gov/ licensing-and-registration/.
ERS TO D • Lester Scott, Little Rock: Representing pesticide manufacturers. Nominated by the Arkansas Crop Protection Association. • Richard Watts, Watson: Representing the forest sector. Nominated by the Arkansas Forestry Association. • Nathan Reed, Marianna: Farmer, actively and principally engaged in the production of corn, cotton, peanuts, rice, sorghum, soybeans, turf or wheat. • Travis Senter, Osceola: Farmer, actively and principally engaged in the production of corn, cotton, peanuts, rice, sorghum, soybeans, turf or wheat. • Reynold Meyer, Eudora: Practical livestock producer, actively and principally engaged in the production of livestock. • Bruce Alford, Lewisville: Practical forage grower, actively and principally engaged in the production of forage. “The Plant Board is one of the most significant commissions for Arkansas agriculture, and I am confident this first-rate slate of new members will ensure Arkansas agriculture remains No. 1,” Hutchinson said.
PHILLIPS COUNTY SOYBEAN GROWER SETS NEW YIELD RECORD: 130 BUSHELS PER ACRE Phillips County soybean producer Neil Culp has set a record for soybean yield, recording 130.784 bushels per acre (bu/ac) in the annual Grow for the Green Soybean Yield Challenge. When the contest began several years ago, the goal was to achieve 100 bu/ac. Culp is now the 24th producer to claim a spot in the 100 Bushel Club. “This is an amazing accomplishment, especially with the difficult conditions we experienced here in Arkansas during 2021,” said Jeremy Ross, extension soybean agronomist for the University of Arkansas System Division of Agriculture. Phillips County is one of Arkansas’ top soybeanproducing counties, yielding an average 60 bu/ac. That’s slightly higher than the statewide average of 50 bu/ac. Culp and his brother, Blake, are fourth-generation farmers who run Double A Farm near Marvell. Neil Culp said he has competed in the Grow for the Green competition for several years. Last year, he cut 97 bu/ac, just shy of the 100-bushel mark. “We really didn’t do anything different this year,” he said. “I did the same thing this year as last year. We planted seed and prayed over the seed. God did it all. We were very blessed.” Phillips County Extension county chair Shawn Payne and Ernest Bradley, a multicounty agent based at the University of Arkansas at Pine Bluff, measured three times to verify the yield.
The General Assembly passed Act 361, which increased the number of board members from 17 to 19, and took effect July 28. Two of the 19 are nonvoting members designated by the Vice President for Agriculture of the University of Arkansas. Eight are nominated by agricultural associations and appointed by the governor. Nine are appointed by the governor. Two members appointed by the governor, whose terms expire March 17, 2022, remained on the Plant Board.
The Grow for the Green Soybean Yield Challenge is funded by the Arkansas Soybean Promotion Board using producer checkoff funds and is managed by the Arkansas Soybean Association. The University of Arkansas System Division of Agriculture provides information to producers and extension agents serve as judges. The contest fields consist of five to seven acres and must have been planted in soybeans at least once in the previous three years.
The Arkansas Senate must approve the appointments, which all expire Oct. 1, 2023.
Culp will be recognized at the Arkansas Soybean Association’s annual meeting in January 2022.
A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION
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MARKET NEWS as of October 5, 2021 Contact Brandy Carroll 501-228-1268 brandy.carroll@arfb.com
Cattle Cattle futures have found support and are attempting to stabilize. After closing at new six-month lows on Friday, the December contract is building support at the $125 level. The September Cattle on Feed report showed August placements at 102% of the year-ago total, well above the average trade estimate, which expected to see fewer placements when compared with last year. Total feedlot inventory was pegged at 99% of last year, and marketings were 100% of a year ago, which was predicted by traders. Hogs Hog futures have turned lower this week after their impressive rally. Recent strength was the result of bullish sentiment after the Quarterly Hogs and Pigs report was released last Friday. The USDA pegged the supply of all hogs as of Sept. 1 at 96% of last year, compared with of 98.3%. The totals were lower than pre-report estimates and gave the market a boost. The February contract has found resistance near $87.50 and has turned lower, closing the chart gap left last week between $86.10 and $86.35. Further weakness could send the market to close the huge chart gap between $80.10 and $82.60. Cotton What a difference a week makes! Last week, December cotton fell 4
below its long-term uptrend, giving the charts a decidedly bearish appearance. The market never fell below Monday’s low of 88.95 cents, though, and rallied sharply on Friday. The market has continued to post big gains this week, moving to new contract highs above $1/lb, and a 10-year high on a front-month basis. Strong export movement, especially to China, has been supportive. The weekly export report released on Thursday showed sales of 571,400 bales, up 92% from the four-week average. Rains in West Texas could disrupt harvest and cause quality concerns but have supported prices. The market is technically oversold and due a correction, but market bulls have managed to drive the market above $1 and there isn’t a lot of technical resistance at that level to turn things around. Corn USDA released its Sept. 1 Grain Stocks report last week, and it was seen as bearish for prices. Stocks were pegged at 1.236 billion bushels, above the average trade estimate of 1.155 billion, but down significantly from last year’s 1.919 billion bushels. It does mean carryin for the new marketing year is higher than expected. Weekly export sales were 14.6 million, below the average trade estimate and slightly bearish for the market. USDA says that as of Oct. 3, 29% of the crop has been harvested. The weather forecast for the next two weeks looks generally favorable for progress to continue in the Corn Belt. Harvest pressure will likely be a factor in the market for a bit. The chart action for December looks negative as the market charted a bearish outside day last week. Selling interest has been limited, though, as trade has remained confined within Thursday’s range.
A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION
Support starts at the recent low of $5.12, but the market could retest the low of $4.97½ on further weakness. Soybeans Soybean stocks were pegged at 256 million bushels in the Sept. 1 Stocks Report. The market was expecting a carryout below 200 million bushels, with the average trade estimate coming in at 174 million bushels. USDA also revised the 2020 soybean crop estimate upward to 4.216 billion bushels, up 80.8 million. The South American crop is off to a good start, adding additional pressure to prices. USDA says harvest is 34% complete, well ahead of the four-year average of 26%. The November contract charted a bearish key reversal on Thursday and has traded to new six-month lows. The market has potentially found support near $12.30, while resistance at $13 might be tough to overcome. Rice Harvest progress continues, with 73% of the crop in the bins nationwide, and 72% in Arkansas. That means harvest pressure continues to impact the market. Weekly exports were solid at 75,100 metric tons, and shipments were up 29% from the four-week average at 54,800 metric tons. More than half of the shipments were headed to Iraq. November futures failed to push above resistance at $14 last week, with that level of psychological resistance now becoming a potential double top for the market. So far, the market has found some support near $13.50.
EDITOR Ashley Wallace ashley.wallace@arfb.com