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June 12, 2024 News & Info Brief

AG COUNCIL NEWS & INFORMATION BRIEF
June 12, 2024

WASHINGTON AG UPDATE

Boozman Unveils Farm Bill Framework: On Tuesday, June 11, Senator John Boozman (R-AR) issued his anticipated framework for a farm bill. As expected, the measure largely aligns with a bill by House Agriculture Committee Chairman Glenn "GT" Thompson (R-PA) that strengthens farm safety net programs and conservation program funding while maintaining other key investments within other various farm bill titles. Thompson's measure passed the House agriculture committee with a bipartisan vote in late May. Chairwoman Debbie Stabenow (D-MI) has elected to take an alternative and more partisan approach, with an outline of a bill that places an emphasis on policy priorities that aim to expand nutrition programs, develop organic and specialty crops, and advance climate change initiatives and urban agricultural interests. More...Boozman Announcement | Video of Boozman on Senate Floor | ArkansasOnline | DTNPF | ProFarmer | Agri-Pulse | Politico | TheFencePost | Ag Council Letter

House Begins Work on Agriculture Appropriations Bill for 2025 Fiscal Year: On Tuesday, June 11, the House Appropriations Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Subcommittee marked up a fiscal year 2025 funding bill for the U.S. Department of Agriculture (USDA) and Food and Drug Administration (FDA). The action was a first step towards completing work on federal funding plans for USDA and the FDA in the upcoming fiscal year, which begins October 1. The measure includes an overall reduction in federal spending from fiscal year 2024 with a discretionary allocation of $25.873 billion, which is $355 million (1.35%) below the Fiscal Year 2024 enacted level and $2.688 billion (9.4%) below the President’s Budget Request. More...House Appropriations News Release | Bill Summary | Bill Text

FCIC's Board Action Improves Enhanced Coverage Option for Farmers: On May 23rd, the Federal Crop Insurance Corporation’s Board of Directors voted to increase the Enhanced Coverage Option (ECO) subsidy rate from 44% to 65% to make it in-line with other area-wide insurance products such as the Supplemental Coverage Option (SCO) and the Hurricane Index Protection (HIP) plans. ECO is a supplemental policy that allows a producer to purchase an area-wide policy with coverage up to 90 or 95% of the expected revenue or yield depending on the design of the underlying crop insurance policy. More...ECO Update Information Sheet

FSA Reminds Producers to Complete Acreage Reporting: The USDA recently sent a reminder to encourage agricultural producers to make an appointment with their local Farm Service Agency (FSA) office to complete crop acreage reports before the applicable deadline after planting is complete. July 15 is a major deadline for most crops, but acreage reporting deadlines vary by county and by crop. More...FSA Announcement | Crop Acreage Reports

Process Underway for Re-registration of Dicamba for OTT Use: The U.S. Environmental Protection Agency (EPA) is accepting public comments on the registration of dicamba for over-the-top (OTT) use in cotton and soybeans for 2025 and beyond. The process was kickstarted by Bayer as they were first to seek out an updated registration and label for their extendimax herbicide. The comment period for Bayer's application closed June 3rd. A similar comment period is open related to BASF's Engenia herbicide, which they hope to also have registered for use. That comment period will close July 5th. More...EPA Announcement on BASF Application | Comment Link | Agri-Pulse

EPA Proposes Effective Ban of Acephate: On April 30th, the U.S. Environmental Protection Agency (EPA) took regulatory action announcing plans to prohibit use of acephate, a common organophosphate insecticide used in Arkansas for insect control in multiple crops. The decision allows for public comments through July 1, and individuals can now express their views regarding the importance of this chemistry. More...DTNPF | Federal Register | Link to Provide Public Comment

ARKANSAS AG UPDATE

Governor Announces Plans for Special Session: On Tuesday, June 11, Arkansas Governor Sarah Huckabee Sanders announced plans to call a special legislative session of the Arkansas General Assembly beginning early next week. The announcement described a plan to cut personal income taxes to a top rate of 3.9% and corporate income taxes to 4.3%, while also recommending a $75 increase to the homestead tax credit. In addition to tax cuts, the Governor also calls upon the General Assembly to pass an appropriation to fund the Arkansas Game and Fish Commission (AGFC) for the upcoming fiscal year, which begins July 1. More...Governor's Announcement | ArkansasOnline | TalkBusiness | ArkansasBusiness

State Revenue Appears to Show Strong Finish to Fiscal Year: According to a recently issued May revenue report from the Arkansas Department of Finance and Administration, Arkansas will have a substantial surplus at the close of the fiscal year at the end of the month. Despite revenue declines from the previous fiscal year due to tax cuts, state income still exceeded forecasts and provided a sufficient surplus for the Governor and General Assembly to consider additional tax cuts. More...DFA Announcement | ArkansasOnline | ArkansasBusiness

Governor Calls Upon State Agencies to Cut Costs: On June 5th, Arkansas Governor Sarah Huckabee Sanders sent a letter to cabinet secretaries and agency directors encouraging them to develop cost savings strategies in preparation for the next budgetary cycle for the State of Arkansas. The letter noted the Governor's plans to meet a campaign commitment to continue lowering tax burdens on Arkansans and limiting the growth of state government. It's expected that cabinet secretaries and agency directors will seek out cost savings largely through efficiency gains from consolidation of programs, people, facilities, and other property. More...Press Release from Governor Sanders

AgriCapture Touts Carbon Credits for Rice Methane Reduction: According to an announcement by AgriCapture, a leading certifier of Climate-Friendly farming practices and generator of high integrity agricultural emissions reduction credits, announced on June 11, its receipt of the first large-scale issuance of CO2e (carbon dioxide equivalent) carbon credits generated from the rice industry in the United States. The credits are issued by Climate Action Reserve, a global carbon registry known for its rigorous issuing process, under the Soil Enrichment Protocol. The types of credits generated by farmers are marketed to companies seeking to offset greenhouse gas (GHG) emissions, reduce water usage, and support American farmers. More...AgriCapture Announcement | AgriCapture Homepage

Dr. Deacue Fields Named to Agriculture Future of America Board: According to an announcement from the University of Arkansas System's Division of Agriculture, the Agriculture Future of America named Dr. Deacue Fields, VP of Agriculture for the University of Arkansas, to serve on the organization's board. The Kansas City, Missouri, organization aims to develop students into leaders by fostering professionalism, entrepreneurialism and intellectualism. AFA accomplishes this through programs that help students develop professionally, as well as offering scholarships. ...UADA Announcement | AFA Homepage | AFA Board of Directors

StoneX Offering Grain Merchandising Risk Academy in Memphis July 16-17: Ag Council Sponsor StoneX, a leading global financial services company with expertise in commodity futures markets, is hosting a grain merchandising risk academy in Memphis, TN, July 16-17. The program is an excellent opportunity for individuals and businesses to build knowledge in managing futures market risks with tools, concepts, and strategies employed by grain merchandisers and originators worldwide. The interactive agenda is tailored to meet the needs of attendees with all levels of experience, regardless of their previous exposure to grain merchandising. More...About the Seminar | Agenda | Registration Link

Arkansas Water Resources Center to Host Meeting July 16-18 in Fayetteville: According to an announcement from the University of Arkansas System's Division of Agriculture, the Arkansas Water Resources Center will host a meeting July 16-18 in Fayetteville to discuss a range of issues related to water in Arkansas. Over the course of two and a half days, the 2024 conference will cover relevant topics for stakeholders statewide, and highlights presentations covering northwest and central Arkansas, as well as the east Arkansas Delta.The meeting will be held at the Don Tyson Center for Agricultural Sciences, 1371 W. Altheimer Drive in Fayetteville. More...UADA Announcement | Arkansas Water Resources Center | Conference Homepage

Members Encouraged to Apply for Service on State Boards and Commissions: We strongly encourage Ag Council members to apply for public service on various agriculture related state boards and commissions which serve important roles for our industry. We stand ready to help our members navigate the application and appointment process. More...https://agcouncil.net/services/leadership/ | Application Portal | Office of Governor Homepage

Additional Arkansas Ag Resources:
USDA Daily Arkansas Grain Bids
USDA AMS Service Rates
Arkansas Department of Ag Calendar
Ag Council Leadership Opportunities
Apply for Service on State Boards & Commissions
USDA NRCS Arkansas Offices
USDA County Cash Rent Estimates
Arkansas Crops Update
UADA Crop Budgets
UADA Verification Information
Arkansas Row Crop Risk Management
Pine Tree Discoloration & Mortality Reporting
Feral Hog Task Force
Digital Edition of Delta Farm Press
H-2A Guidebook by Congressman Crawford
AgriCapture Carbon Program
Bayer Carbon Program (ForGround)
Indigo Carbon Program
Corteva Carbon Program
Truterra Carbon Program
Nutrien Carbon Program (FarmSmart)

ECONOMIC & INDUSTRY NEWS

USDA Issues Crop Progress Report: On Monday, June 10, USDA issued a Crop Progress and Condition Report for the 2024 crop year. According to the report, Arkansas's corn crop was 100 percent emerged with 21 percent silking. The rice crop was 99 percent emerged. The soybean crop was 93 percent planted with 88 percent emerged and 32 percent blooming. The cotton crop was 97 percent planted with 92 percent emerged and 12 percent squaring. The peanut crop was 96 percent planted, 85 percent emerged, and 3 percent pegging. Most of the crops are considered to be in fair to excellent shape in Arkansas. More...U.S. Report | Arkansas Report

June WASDE Report: On Wednesday, June 12, USDA issued its June World Agriculture Supply and Demand Estimate (WASDE) Report. This month's report did not contain much in the way of market moving news. More...June WASDE | Secretary Report Slides | Secretary Report Video | WASDE Visualization | DTNPF

Other USDA Reports:
- Cotton System
- Fats & Oils
- Grain Crushings
- Peanut Prices
- Crop Production
- Regional Crop Production
- Agricultural Prices

Other links of Interest:
Nutrien June 12 Weather Look
Jarrod Hardke's Arkansas Rice Report
Arkansas-Crops Blog
UADA Ag News Blog

DTN Market Insights: Commodity Market Info

The RiceStuff Podcast: Podcast Homepage

Arkansas Economic Profile: 2023 Pocket Facts - News | USDA Arkansas Ag Economic Overview | Arkansas Ag Census Data | Arkansas Historical Data | Arkansas Farms & Land Report | Arkansas Land Values & Cash Rent Report | Arkansas Farm Labor Report

UofA Crop Updates | UofA Land Grant Research & Extension Service Video

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