Farm Bureau Press for March 8

MARCH 8, 2019 • VOLUME 22 • ISSUE 5

Farm Bureau Press A PEEK INSIDE

STAY IN THE KNOW • Arkansas Soil Health Alliance is holding its annual meeting March 18 in Brinkley. The meeting will cover several topics and will be followed by a farm visit in Cotton Plant. For more information and to RSVP, contact Alice Weeks at paweeks@att.net or Debbie Moreland at debbiepinreal@aol.com.

• A Current Issues and Advances in Food Animal Wellbeing Forum will be held March 28 in Russellville. Register by March 22 with Megan Maulden by calling 501-671-2177. The forum costs $25 which may be paid at the door.

ArDEC award for global trade, page 2.

• ArFB is hosting the second Ag Youth Leadership Seminar July 16-18. The seminar provide participants with an in-depth look at agricultural degrees and careers, as well as an introduction to the policy development process and issues affecting agriculture and rural Arkansas. The deadline to apply is May 24.

For more information email amanda.williams@arfb.com.

Ag safety week, page 2.

Meet the the newest inductees of the Arkansas Agriculture Hall of Fame (left to right), Dr. Terry Siebenmorgen, Dr. L.B. (Bernie) Daniels, Dr. Ed Fryar, Dr. Donna Graham and David Walt, http://bit.ly/aghofclassxxxii.

Apply for M*A*S*H, page 3.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

BLOCKCHAIN FOR AG BUSINESS Building and maintaining trust with online buyers through product transparency is essential for Grass Roots Farmers’ Co-op. That transparency comes to life through the use of blockchain technology that provides customers with information on how food was raised. Cody Hopkins, member and CEO of the co-op describes the value of block chain technology in this edition of Arkansas Agcast. Hear the conversation on our website, http://bit.ly/grassrootscoopblockchain.

ArDEC AWARD FOR GLOBAL TRADE The Arkansas District Export Council (ArDEC) is accepting applications for the 2019 Governor’s Award for Excellence in Global Trade to recognize the exporting success of small, medium and large Arkansas companies.

Applications are being accepted until April 26 and can be downloaded at arkansasexport.com.

The award ceremony will take place on May 23 at the Arkansas Governor’s Mansion in Little Rock with Governor Asa Hutchinson in attendance. This year’s keynote speaker will be Mack McLarty, the chairman of McLarty Associates, an international advisory firm based in Washington D.C. ArDEC will award companies whose exporting story includes developing innovative approaches to international business, consistently growing market share and expanding its global presence.

“This is the 10th year anniversary of the Governor’s 2

Award for Excellence in Global Trade. We look forward to recognizing an exciting new group of Arkansas companies that excel in exporting,” said ArDEC chair Lenka Horakova.

In addition to self-nomination, companies may nominate Arkansas-based manufacturing or agriculture companies actively selling in international markets. The winners of the award will be presented with a trophy during the awards luncheon and profiled throughout the year as the winner of the Governor’s Award for Excellence in Global Trade.

Applications for the Award can be found at www. arkansasexport.com/governor-s-awards-for-exporting. For more information, contact ArDEC at chairman@ArkansasExport.com.

NEW DICAMBA RULE The Arkansas Agriculture Department’s Plant Board filed with the Secretary of State’s office the new rule regarding in-crop applications of dicamba on crops with the dicamba-tolerant trait. The new rule will take

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

ArFB hosted 13 women March 7-8 for a Communications Boot Camp. The group heard from speakers covering topics on agricultural advocacy, social media and “knowing your why.” Pictured is Darleen Holly of Benton Co.

APPLY FOR M*A*S*H

effect March 11. The filing came after the Administrative Rule and Regulation Review Subcommittee and the full Joint Budget Committee approved the Plant Board’s recommendation earlier this week. The new rule is applicable to all current (Engenia, Fexapan, and Xtendimax) and future dicamba products registered for in-crop use in Arkansas.

Applications are now available to high school students for the summer Medical Applications of Science for Health (M*A*S*H) camps. These two-week M*A*S*H camps will be offered at 35 different medical facilities throughout Arkansas and are designed to expose rising high-school juniors and seniors to healthcare-related careers.

Applications are available through school guidance counselors or by contacting the M*A*S*H director in your area.

“The idea is that future medical students from a rural background are more likely to return to their roots, and rural communities across Arkansas have tremendous need for healthcare providers,” said Jennifer Craig, director of leadership development for Arkansas Farm Bureau. “Students are often unaware of the wide variety of career opportunities available in healthcare, so M*A*S*H can be a game-changer for students at a time when they’re trying to figure out what career track they want to pursue.”

County Farm Bureau organizations and the M*A*S*H Partnership sponsor students so they may attend the camps at no cost. The partnership includes the University of Arkansas for Medical Science’s Regional Centers, Arkansas Blue Cross and Blue Shield, Arkansas Farm Bureau and Delta Dental. More information on the M*A*S*H program can be obtained by contacting Amber Marshall with UAMS, 501-686-6188, or Jennifer Craig of ArFB 501-228-1269.

Marion Co. Farm Bureau President Larry Blasdel, Jr. (back center) led a contingent of 14 county FFA students to the state capitol, March 6. The students toured the Capitol, visited with Sen. Scott Flippo (front center) in the Senate Chamber and sat in on a House Agriculture, Forestry, and Economic Development Committee meeting.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

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MARKET NEWS as of February 21, 2019 Contact Brandy Carroll 501-228-1268 brandy.carroll@arfb.com

Rice May rice futures charted a bullish key reversal Feb. 20, and priced have moved about $1 higher as traders rolled positions out of expiring March and into May contracts. So far, though, the market has been limited by resistance at $11. The WTO ruled last week that China’s rice subsidies exceed WTO terms, concluding an investigation brought about by a complaint filed by the Obama administration. Chinese production is estimated to drop if WTO commitments are met. It was also announced last week that all 32 U.S. rice facilities that have applied to export rice to China have been approved through the U.S.-China protocol. While both announcements are good news, they won’t have much impact on prices until the Chinese government takes action.

In other rice news, the U.S. Trade Representative (USTR) announced this week that it was ending the beneficiary status for India and Turkey under the Generalized System of Preferences (GSP), which allows duty-free entry of their products into the U.S. to promote economic growth. As India has continued to increase their exports of rice into the U.S., this could be good news for the U.S. rice industry. However, Turkey has in the recent past been the fourth largest export market for U.S. rice. In 2018, Turkey levied retaliatory tariffs on U.S. rice that equal 84-95 percent, 4

depending on the form of rice.

Soybeans Soybean futures continue to trend downward. Nearby May is testing support at $9. A November close below the recent low of $9.35 would be bearish and signal further losses, with a downward target of the December low of $9.23 ½.

The weekly export report was disappointing to say the least, showing just 311,400 metric tons sold for 2018-19, and 72,000 for 1920 delivery. The trade was estimating 600,000-1.1 million metric tons.

The lack of a signed trade deal between the U.S. and China is also disappointing, and while Chinese buying alone won’t completely turn the market around, it would help to see the stocks start to move. U.S. farmers are currently projected to plant 4 million fewer acres in 2019 when compared with last year, but that decrease will be more than offset by the record-high carry-in stocks.

Corn Corn futures have broken out of their sideways trading pattern and have moved to six-month lows. There seem to be several fundamental factors at play. Corn demand for ethanol has been disappointing at best, and carryover weakness from wheat futures has had an effect as well. Trade uncertainty, particularly the failure of the U.S. to complete a trade deal with China, is also taking its toll. Expectations for farmers to significantly increase corn acreage as they move out of soybeans is also a factor. Thursday saw a new round of selling, with May moving to a retest of support at the September low of $3.23. That was despite a better than expected weekly export report, showing 969,700 metric ton sales total for 2018-19 delivery, and 280,900 metric tons for 2019-20.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

Cotton Cotton futures are beginning to retrace resent losses. May has charted a potential double bottom just above 71 cents. However, it will be tough for this market to make a significant recovery without China.

Last week, export sales were just 85,600 bales, and China cancelled previous commitments of 65,000 bales. This week’s report was only slightly better at a net 114,000 bales for 2018-19 delivery and 25,700 bales for 2019-20. Cold, wet weather across the south isn’t affecting plantings yet, and U.S. farmers are expected to produce 22.5 million bales this year, up from 18.39 million bales in 2018.

Livestock Hog futures are building on support at the recently charted contract low, which is $52.25 for April. Weather has been interrupting hog movement and slaughter operations, likely causing a backlog of heavy-weight, market-ready hogs.

The export front remains a concern as well, as the outcome of trade negotiations with both China and Mexico remain uncertain. Domestic demand should improve seasonally as the weather improves and Easter ham demand begins.

April live cattle futures set a new contract high every day last week, but the March 1 high of $130.35 may be resistance for now, as the market has backed slightly away from that level. The Cattle on Feed report, to be released Friday, is expected to show placements at 93 percent of a year ago, and with feedlot inventories steady and marketing up 2 percent.

EDITOR Maddison Stewart Stone maddison.stone@arfb.com