AG COUNCIL NEWS & INFORMATION BRIEF
September 20, 2024
WASHINGTON AG UPDATE
Ag Council Trip to Washington Made Push for Safety Net Updates: Last week, Ag Council president, Nathan Reed of Marianna, traveled to Washington, DC, to make a hard push on Congress to take action in passing near-term and long-term policy solutions to help improve the safety net for Arkansas farmers. Extremely high input costs, collapsing commodity markets, and evaporating safety nets in the farm bill are placing a tremendous economic squeeze on farmers. Meetings included all members of the Arkansas Congressional delegation as well as committee staff from the House and Senate Agriculture committees. More...Facebook Post | X Post | Documents Shared: Economic Info | Ad-hoc Need | August Letter
Boozman Calls for Farm Bill and Supplemental Aid to Help Farmers: On Tuesday, September 17, Senator John Boozman (R-AR) went to the Senate floor to call upon his colleagues to help advance a five-year farm bill and additional aid to help farmers stuggling economically this crop year. Boozman, who serves as ranking member to the U.S. Senate Committee on Agriculture, Forestry, and Nutrition, specifically called for Congress and the administration to provide a “timely and urgent response” to the looming farm crisis in the form of emergency assistance to farmers and called for a redoubling of efforts to pass a farm bill before the end of the calendar year. More...Video | Boozman Press Statement | ArkansasOnline | SuccessfulFarming | DTNPF
House and Senate Ag Committee Leaders Call for Safety Net Improvements Before Year End: According to announcements from House and Senate leadership on the agriculture committees, all are in agreement that an extension of current farm policy to the 2025 crop year is unacceptable and insufficient in addressing safety net needs of American farmers. Economic conditions facing farmers this crop year are grave, and existing policy is not providing the safety net support needed to mitigate the widespread economic losses that are expected. In a rare sign of unity, agriculture committee leaders are signaling a desire to cooperate and work towards providing immediate relief for farmers through a legislative vehicle that would have to pass later this year before Congress completes work on fiscal year 2025 funding and adjourns the 118th Congress. More...DTNPF | Agri-Pulse
Boozman Memo Highlights Economic Challenges Facing Row Crop Agriculture: On September 5th, USDA released a net farm income projection report for the United States. Upon reviewing the report, Senator Boozman was quick to point out that the agency's highlights of the report masked a major problem facing crop farmers as their projected income was expected to decline dramatically while the cost of production remains exceptionally high and farm safety net programs are not providing needed aid, which is expected to lead to substantial losses among crop farmers. According to the report, combined receipts for corn and soybeans are forecast to fall from 2023 levels by $24.6 billion, with corn receipts expected to fall by $16.0 billion (20.0 percent) and soybean receipts by $8.6 billion (14.6 percent). Cotton receipts are forecast to decline by $1.7 billion (23.6 percent) and wheat receipts are forecast to decrease by $1.6 billion (12.3 percent). More...Boozman Report | USDA September Net Farm Income Report | Video of USDA Net Farm Income Forecast Presentation
House Failure to Pass 6 Month Spending Bill Increases Chances of Short Term CR: On September 18, the U.S. House of Representatives failed to approve a six month spending bill that included provisions relating to strengthening ballot security. As the September 30 fiscal year deadline approaches, odds are increasing on a likelihood of Congress passing a short term continuing resolution that would fund the federal government until mid-December. More...Appropriations Tracker | TheHill | Politico |
House Approves Legislation Aimed at Protecting Agriculture from China and Certain Foreign Investment: On September 11, the U.S. House of Representatives approved legislation to limit and further oversee foreign investment in farmland and other agricultural related businesses. The measure would prohibit foreign investment from certain nations, including China, and place the secretary of agriculture on the Committee on Foreign Investment in the United States (CFIUS), an interagency body tasked with screening foreign investments in U.S. companies or property for potential threats to national security, and then making recommendations to the president, who ultimately decides whether the transaction should be cleared or blocked. More...DTNPF | Agri-Pulse | AgWeb
Federal Reserve Slashes Interest Rates: The Federal Reserve Bank on Wednesday announced the first cuts to interest rates since 2020 as inflation rates have cooled. The new 4.8% rate is down from the high of 5.3%, which was a two-decade high. Federal Reserve Chairman Powell also indicated additional cuts are expected later this year and in 2025 and 2026. Interest relief is welcome news to farmers as they struggle with high operating costs that are exceeding prices received in commodity markets. More...AP | WSJ | DTNPF
Other News & Info from Washington:
Video Brief from NCC's VP of Gov Affairs Robbie Minnich
Crawford on the Farm Bill & Ag Economy
Ag Committee Economist John Newton Departs for Terrain
Biden Issues Action to Limit Cheap Imports that Avoid Tariffs
American Farm Bureau Candidate Survey (Harris & Trump)
National Ag Law Center on Chevron Ruling Impact on Agriculture
Potential Labor Strikes at Southern and East Coast Ports Could be Disruptive
Ag Employer Group Files Suit Against DOL for Organizing Rules for H-2A Workers
ARKANSAS AG UPDATE
Francine Slows Harvest with Rains: Remnants of Hurricane Francine brought heavy rains and some winds to Arkansas causing a slowdown in harvest. In some cases, some crop yield and quality losses may present where rainfall and winds were greatest. Fortunately harvest progress was ahead of average for most crops, and since the system departed, farmers have resumed a good harvest pace. More...UADA Article | THV11
Arkansas Rice Industry Provides Gift to Food Bank: On September 18, the Arkansas rice industry joined together in making a record donation of rice to the Arkansas Food Bank. The donation of 284,490 pounds of rice from various rice mills across Arkansas will help combate hunger statewide. The donation took place on what is known as Rice Month in Arkansas, and was proclaimed as such by a proclamation from Governor Sarah Huckabee Sanders who was a keynote speaker at the event. More.... Stuttgart Daily Leader | Video
Arkansas Ag Hall of Fame Accepting Nominations for Next Class of Inductees: The Arkansas Agriculture Hall of Fame recently announced that it is now seeking nominations from the public for its next class of inductees. The nomination deadline is November 1. The Agriculture Hall of Fame recognizes Arkansans who have contributed significantly to the state’s largest industry while spotlighting their contributions to the state’s economic development. More...TalkBusiness | Ag HOF Website | Nomination Link
New Climate Smart Grant Opportunities Available for Arkansas Farmers: Arkansas farmers located in Arkansas, Cleveland, Drew, Jefferson, Lincoln and St. Francis Counties still have time to apply for new incentives related to "climate smart" conservation practices. The program is limited to 160 acres, but the program provides up to $100 per acre. Eligible practices include alternate wetting and drying, row rice, cover crops, and minimum tillage among others. Funding for the program was provided by USDA under the Climate Smart Agriculture and Forestry (CSAF) initiative. More...Program Homepage | Application Instructions | Application Page
Upcoming Meetings and Events:
September 21 Rice Month Celebration with Craft Beverage Makers at Lost40 (12-3pm) | Event Link
September 22 Downtown Little Rock Food Truck Festival (11am-6pm) | Flyer for Agri-Alley | MAP
September 25 Corteva Grower Meeting on Crop Options for 2025 Stuttgart GPC 9am-11am
Arkansas Farm Bureau Convention Hot Springs December 4-6
USA Rice Outlook Conference in Little Rock December 8-10 | Register
Cotton Board/Cotton Inc Joint Meeting San Diego December 10-12
December 12-13 Ag Council Annual Board of Directors Meeting, Little Rock
Other Arkansas News & Info Links:
Governor Makes Appointments to Ag Boards
FSA/NRCS Arkansas September Newsletter
Cover Crop Considerations for Arkansas Farmers
Tyson Foods Sued Over Environmental Marketing Claims
Wind Turbines Emerging in East Arkansas
State Police Arrest Jackson County Man for Reckless Field Burning
Local Dispute on Dam in Des Arc Involves Corps & EPA
Video of UADA Grand Opening of New Rice Center
Arkansas Income Beats Forecast in August
Registration Link for Sep 23 11am AGFC Webinar on Private Lands Initiatives
Additional Arkansas Ag Resources:
USDA Daily Arkansas Grain Bids
DeltaPlastics Push4Pickup App
Crop Residue Field Burning Smoke Management FIRESMART App
Arkansas Farm Bueau AgCast Podcast
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 Land Value & 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
Arkansas Voluntary Smoke Management Guidelines
Digital Edition of Delta Farm Press
H-2A Guidebook by Congressman Crawford
Enrollment Link: U.S. Cotton Trust Protocol
Climate Smart Grant Opportunities Dashboard
Arkansas Alliance Grant Application Information
AgriCapture Carbon Program
Bayer Carbon Program (ForGround)
Indigo Carbon Program
Corteva Carbon Program
Truterra Carbon Program
Nutrien Carbon Program (FarmSmart)
ECONOMIC & INDUSTRY NEWS
September USDA WASDE Report: On September 12, USDA issued a World Agricultural Supply and Demand Estimate (WASDE) Report and Crop Production Report. The reports showcase supply and demand estimates for major crops and include anticipated production for the 2024 crop year. The data produced in the August report furthered the expectation of a large yield across the United States for most commodities. More...WASDE Report | Secretary Briefing (slides | video) | Visual Summary | U.S. Crop Production Report | Arkansas Crop Production Report
September 16 USDA Crop Progress Report: On September 16, USDA issued an updated Crop Progress Report. According to the report, 84 percent of corn was harvested, 68 percent of rice was harvested, and 29 percent of soybeans were harvested. 5 percent of peanuts were harvested and 3 percent of cotton was harvested. Harvest progress is expected to quickly accelerate this week as weather becomes more favorable after remnants of Hurricane Francine brought significant rainfall across much of East Arkansas. Crop conditions in Arkansas remain decent with a large majority of crops in fair to excellent condition, according to the report. More...U.S. Report | Arkansas Report
Other Market News & Info:
Potential Widespread Labor Strikes at U.S. Ports Could Disrupt Ag Shipments
PTx Trimble Retrofit for Autonomous Grain Cart Tractor Available in 2025
Producers Rice Mill Crop Update Video
Arkansas Unemployment Rate Holds at 3.3%
Other USDA Reports:
- Cotton System
- Fats & Oils
- Grain Crushings
- Grain Crushings - Ann.
- Cotton Ginnings
- Peanut Prices
Other links of Interest:
USDA Daily Arkansas Grain Bids
Arkansas Rice Update from UADA
Morning Coffee & Ag Markets Podcast from UADA Economists
NCC Weekly Cotton Market Report
DTN Commodity Market Insights
Nutrien Ag Solutions Weather Reports
NCC's Estimated 2023 STAX Payments for Cotton Farmers
UADA Fundamentals of Federal Crop Insurance
FarmJournal ProFarmer Newsletter
Cotton Inc Monthly Economic Newsletter
Cotton Inc 2024 Mid-Year Report to USDA
USA Rice Daily
RiceStuff Podcast Homepage
Entergy Agri Desk
Jarrod Hardke's Arkansas Rice Report
Arkansas-Crops Blog
UADA Ag News Blog
USDA County Cash Rent Estimates
Arkansas Economic Profile: 2024 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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