NOVEMBER 5, 2021 | VOLUME 24 | ISSUE 22
Farm Bureau Press A PEEK INSIDE
ARKANSAS FARM BUREAU FOUNDATION NIGHT IN & AUCTION The Arkansas Farm Bureau Foundation will be hosting a 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 in Little Rock. The meal will be catered by King Kat and will include fried catfish, shrimp and chicken, along with all the fixings. The event will include entertainment and a silent auction.
U.S. Cotton Trust Protocol, page 2
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, firstin-line access for the meal and other special gifts. To reserve space, please contact Amanda Williams, Director of the ArFB Foundation, at 501-228-1493 or amanda.williams@arfb.com by Nov. 18. The ArFB Foundation Silent Auction will be held Dec. 1–2. County Farm Bureaus are invited to donate items. Proceeds from the auction will be used to further agriculture education in Arkansas through programs like Ag in the Classroom, educational project grants and support of Arkansas FFA and Arkansas 4-H youth programs. Donated items should have a retail value of $25 or greater. Counties wishing to donate larger items may choose to work together with other county Farm Bureaus, groups or agencies. Please provide a description of the item before convention.
Pandemic Response and Safety Grant Program, page 3
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All the items should be checked in and ready for bidding in the trade show by 9:30 a.m. on Dec. 1. For additional information, please contact Lindsey Rucker at 501-228-1843 or lindsey.rucker@arfb.com.
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Benton County Meals | Benton County Farm Bureau recently served dinner to the Decatur football team and band members prior to a recent game. County Young Farmer & Rancher committee members Kevin and Jacque Smith, along with agents Ken Jennings and Mike Morse (pictured), helped serve the meal. The Benton County community has several businesses and restaurants that feed the team prior to home games.
USA RICE OUTLOOK CONFERENCE
The 2021 USA Rice Outlook Conference will be held Dec. 5–7 in New Orleans. As the largest rice conference in the United States, this event focuses on bringing the entire industry together to examine current issues and trends, learn from experts and each other, and to celebrate excellence in our industry. The event also allows farmers, millers, merchants, agribusinesses, government agencies, end-users, suppliers, academics and other industry affiliates to gather, network, participate in educational programming, and plan for the coming crop year. For more information, and to register, visit www.usarice. com/news-and-events/meetings-events/usa-rice-outlookconference.
U.S. COTTON TRUST PROTOCOL
Welch Garden House | The Arkansas 4-H recently dedicated the Welch Garden House in honor of Ewell Welch, longtime 4-H Foundation board member and past Executive Vice President of Arkansas Farm Bureau. The building is located near the community garden at the Arkansas 4-H Vines Center to recognize Welch’s partnership with the Pulaski County Master Gardeners.
Sharp County Meeting | Sharp County Farm Bureau recently held its annual dinner at the county fairgrounds. In addition to hosting the meeting, the county recognized the local media, the 2021 Sharp County Farm Family of the Year, the county Board Member of the Year and the Sharp County Farm Bureau scholarship recipient. 2
In a period of ever greater supply chain scrutiny and a growing demand for transparency, the U.S. Cotton Trust Protocol® sets a new standard for more sustainably grown cotton. Aligned with the U.N. Sustainable Development Goals, the Trust Protocol brings quantifiable and verifiable goals and measurement to more sustainable cotton production and drives continuous improvement in six key sustainability metrics – land use, soil carbon, water management, soil loss, greenhouse gas emissions and energy efficiency. The Trust Protocol underpins and verifies U.S. Cotton’s sustainability progress through sophisticated data collection and independent third-party verification. Choosing the Trust Protocol cotton will provide brands and retailers the critical assurances they need that the cotton fiber element of their supply chain is more sustainably grown with lower environmental and social risk. The Trust Protocol is voluntary for U.S. cotton producers and allows reporting on six key sustainability metrics from the farm-level. Firmly rooted in established principles of continuous improvement, this initiative will help drive all U.S. cotton production toward 2025 sustainability targets and beyond. Cotton farmers are encouraged to attend an upcoming webinar to learn how to enroll in the U.S. Cotton Trust Protocol. More information and how to register can be found online at www.trustuscotton.org/enrollmentwebinar-live-sessions.
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PANDEMIC RESPONSE AND SAFETY GRANT PROGRAM The U.S. Department of Agriculture (USDA) is currently accepting applications for the Pandemic Response and Safety (PRS) Grant Program. Approximately $650 million in funding is available for the PRS grants. Applications must be submitted electronically through the grant portal at https://usda-prs.grantsolutions.gov/usda by 10:59 p.m. CST on Nov. 22. USDA encourages applicants to not wait until the last minute. The first step in applying is getting a DUNS number, which can take up to five days. Once applicants receive a DUNS number, the application takes less than 10 minutes. The application, FAQs, tip sheets and information on how to apply are located on the PRS Grant Portal. Small businesses and nonprofits in the following industries can apply for a grant to cover COVID-related expenses such as workplace safety measures, e.g., personal protective equipment (PPE), retrofitting facilities for worker and consumer safety, shifting to online sales platforms, transportation, worker housing and medical costs: • Specialty crop producers;
ARKANSAS FARM BUREAU CALENDAR OF EVENTS Nov. 10 State Resolutions Committee, Embassy Suites, Little Rock Nov. 18 ArFB Foundation Night-In ticket Deadline Nov. 25 – 26 Thanksgiving Holiday State Office Closed Dec. 1 – 3 ArFB State Convention, Convention Center, Little Rock Dec. 1 – Foundation Night In Dec. 1 & 2 – Silent Auction Trade Show Dec. 2 – Women's Leadership Luncheon Dec. 3 – Business Session Dec. 23 – 24 Christmas Holiday State Office Closed Jan. 7 – 12 American Farm Bureau Convention, Atlanta, Ga. Jan. 25 ArFB Winter Commodity Division Meetings
• Shellfish farming, finfish farming, aquaculture, apiculture; • Specialty crop, meat and other processors; • Distributors; • Farmers markets. Contact information for providers offering technical assistance on this grant application is available on the AMS PRS grant webpage under ‘Additional Resources’: www.ams.usda.gov/services/grants/prs.
Jackson County Fall Fest | Matt and Sarah Hardin, chairs of the Jackson County Farm Bureau Young Farmer & Rancher Committee, recently coordinated a Fall Fest at the Newport schools. The event featured a petting zoo and carnival games and the county Farm Bureau provided 600 goodie bags to students with snack and ag materials. A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION
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MARKET NEWS as of November 3, 2021 Contact Brandy Carroll 501-228-1268 brandy.carroll@arfb.com
Corn Corn futures have turned a bit lower this week on profit-taking as futures had become overbought on the recent rally. December 2021 futures were unable to challenge the August high of $5.94¼, and have seen some weakness as a result. Support begins at previous resistance of $5.50, and as long as the market holds above this support, the uptrend remains intact. Ethanol demand continues to support the market. Weekly ethanol production is running at a near record-setting pace. Harvest is still well ahead of the average pace, with 74% of the crop harvested compared with a five-year average of 66%, despite recent slowdowns due to widespread precipitation events. Weekly exports were disappointing at 35.1 million bushels, down from 50.1 million last week and near the low end of trade expectations. Soybeans November soybeans have recovered from recent weakness but haven’t been able to build much upward momentum. Prices are attempting to move higher but continue to be capped by resistance near $12.50. Soymeal prices have been a supportive factor in recent trade. Last week’s exports were disappointing at only 43.5 million bushels, below trade estimates that ranged from 4
47-73.5 million bushels. China was the main buyer. Shipments were strong, though, at 88.4 million bushels. The crop is 79% harvested, on pace with the five-year average of 81%, despite recent weather delays. Analysts are still expecting to see a bigger crop than is forecasted by USDA, and exports are not keeping pace to meet the USDA projections, so it’s possible the upside of this market will be limited. Rice Rice futures charts look concerning. January has established resistance at the high of $14.22. We have seen downward pressure since the market faltered at that level, charting a potential double top. The market charted a bearish reversal last week and another on Tuesday, sending the market down to test support at $13. So far, that support has held and prices are holding above $13.20. A close below $13 would be very negative for prices. From a fundamental perspective, demand has been supportive in recent weeks. World supplies of rice are adequate to meet demand, and India is harvesting a recordbreaking crop, which could be a negative factor in the short-term. Longer-term, though, food security concerns could become a factor, as China this week encouraged people there to stockpile food in preparation for a potentially hard winter. Fertilizer prices could have an impact on next-year’s crop around the world, too, so the potential for a smaller crop next year could provide some support for prices. Cotton Cotton futures have charted another leg up, moving again to
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new contract highs. December faltered above $1.20 and we have seen some selling interest, but losses so far have been limited. A strong U.S. dollar has added pressure to the market. The crop is only 45% harvested, and widespread rains this week will further delay harvest and could impact the quality of the crop, as 94% of acres have open bolls. Exports have been a supportive factor, last week coming in at 360,800 bales, with China buying more than half of that total. Cattle The trade in live cattle futures has been choppy in recent weeks. Disappointing cash movement has been a bearish factor. The monthly cattle on feed report provided a bullish surprise, though, and has supported prices. Feedlot placements were pegged at only 97.2% of the year-ago total, when the trade was expecting an increase. The Oct. 1 feedlot inventory was reported to be 98.5% of the previous year. Trade expectations ranged from 98.6%100%. December futures have been capped by resistance at $132. January feeders are trending lower, potentially heading for a retest of support below $150. Hogs Hog futures continue to move lower, under pressure from seasonal weakness in cash hog and wholesale pork prices. Futures continue to trade at a discount to cash, which is bearish for prices. Support for December is at the recent low of $71.80.
EDITOR Ashley Wallace ashley.wallace@arfb.com