Farm Bureau Press | September 15

Farm Bureau Press

A PEEK INSIDE

2023 YF&R DISCUSSION MEET APPLICATIONS OPEN

The 2023 YF&R Discussion Meet will be held during the Arkansas Farm Bureau Annual Convention, Nov. 29-Dec 1 at the Statehouse Convention Center.

First place will receive $7,000 and the three runners up will each receive $500. The deadline to return applications is Nov. 15. The winner will also receive an all-expenses paid trip to the American Farm Bureau Annual Convention. The convention will be held Jan. 20 - 24, 2024 in Salt Lake City, UT. Additional information, including discussion meet questions and resource materials, is available online

Who Owns the Farm? Foreign Ownership Legislative Update, Page 2

FOLLOW US ONLINE

GET THE LINKS

Scan

2023 ArFB Foundation Silent Auction, Page 3

2023 Membership Quota | Congratulations to Faulkner County Farm Bureau on being the first county to reach membership quota in 2023! Not only did they reach quota but have already exceeded it by more than 270 memberships. The membership year runs through Oct. 31.

Fair Ground Donation | Yell Co. Farm Bureau recently donated funds to make needed repairs and updates to the EH Building at the County Fair Grounds. Those present for the donation included (from left) Richard Gray, Yell Co. Farm Bureau board president; Celia Bell, Yell Co. fair coordinator; George Jones, Yell Co. agency manger and Eric Wilkins, Yell Co. agent.

WHO OWNS THE FARM? FOREIGN OWNERSHIP LEGISLATIVE UPDATE

In 2023, more than half of the nation’s states either proposed bills or enacted laws to restrict foreign ownership of farmland. Now, federal lawmakers are eyeing similar proposals according to Micah Brown, National Agricultural Law Center staff attorney.

Of the 24 states that have a law limiting foreign acquisitions of land, 12 states — including Arkansas — enacted a foreign ownership law in 2023, Brown said. Brown will discuss state foreign ownership laws enacted during this year’s legislative sessions, as well as federal proposals seeking to increase oversight and restrict foreign acquisitions in U.S. land, in the NALC’s upcoming webinar, “Who Owns the Farm? Foreign Ownership Legislative Update.”

The webinar will be held at 11 a.m. on Sept. 20. A recording of Brown’s Jan. 18 webinar on foreign ownership is available online.

There is no cost to attend and registration is online.

School Supply Donation | Pike Co. Farm Bureau agents and the Women’s Leadership Committee recently collected school supplies for Centerpoint, Kirby and Murfreesboro schools. On hand for the donations were agents Jayme Bristow and Andrew Henderson, and agency manager Jeff Jones.

Ag Outside the Classroom | The Johnson Co. Women’s Leadership Committee recently partnered with Johnson Co. 4-H and the Johnson County Junior Fair Board to create an Arkansas Agriculture experience for Clarksville kindergarten classes at the county fair.

ARKANSAS FARM BUREAU

WEEKLY FUTURES UPDATE

Stay informed and stay ahead with Arkansas Farm Bureau's Weekly Futures Update. Receive concise and easy-to-understand summaries of the latest agricultural trends and insights. Track market data, key indicators, historical trends, and other valuable information to optimize decision-making and cultivate success in the market.

The goal is to equip readers with the knowledge needed to navigate the dynamic world of crop markets effectively.

To signup, text ARFBFUTURE to 52886.

2023 A r FB FOUNDATION SILENT AUCTION

The Arkansas Farm Bureau Foundation Silent Auction will be held Nov. 29–30 at the 2023 ArFB State Convention. Greenway Equipment is returning as the sponsor of the auction and will be matching proceeds from the event.

ArFB is inviting county Farm Bureaus to donate items to the silent auction with a retail value of $25 or greater. Counties wishing to donate larger items may choose to work with other county Farm Bureaus, other groups or agencies. Items unique to county, local or from a local store are encouraged.

Items need to be checked in and ready for bidding by

ABANDONED PESTICIDE COLLECTIONS SET

The Arkansas Department of Agriculture Plant Industries Division will hold Abandoned Pesticide Disposal Collection events in November in Northeast Arkansas. This program was developed with support from Arkansas Farm Bureau as a way for farmers to safely dispose of old or unwanted pesticides.

Participation is free and anonymous to farmers and nonindustrial landowners.

Since its inception in 2005, the program has overseen the collection and safe disposal of over 5.3 million pounds of unwanted pesticides.

This fall, the program will hold the following collection events:

• Nov. 1: Craighead Co.

Simplot – 7997 Hwy. 18, Lake City

• Nov. 2: Poinsett Co.

751 North East St., Harrisburg

• Nov. 3: Mississippi Co.

Nutrien Ag – 2096 W. State Hwy. 158, Manila

Each collection event is from 8 a.m.–1 p.m. Those wishing to participate are requested to complete this form and deliver it to either the county extension office or Farm Bureau office of the host county prior to the collection. More information can be found here, or you can contact Brandi Reynolds at (501) 219-6356 or Tracy Eades at (501) 219-6314 if you have questions about the program.

9:30 a.m., Nov. 29 in the trade show. If a county would like assistance in getting its item to convention in a timely manner, please contact your District Director. Proceeds from the auction are used to further agriculture education in Arkansas, through programs like Ag in the Classroom, grants that are available for educational projects and support of Arkansas FFA and Arkansas 4-H youth programs as well as other efforts supported by the ArFB Foundation. If you need additional information, please contact Lindsey Rucker at lindsey.rucker@arfb.com or 501-2281843.

AGRICULTURE AND VETERINARY MEDICINE SCHOLARSHIP AVAILABLE

The Arkansas Department of Agriculture is now accepting applications for two scholarship programs for students enrolled in or entering an undergraduate or postgraduate degree program related to agriculture or a postgraduate degree program related to veterinary medicine. Applications will be accepted through Aug. 31 and can be found online.

Recipients of the agriculture scholarship for an undergraduate program may receive up to $8,000 per year for up to four years. Applicants must be enrolled in or entering an undergraduate degree program or a post-graduate degree program related to agriculture. Applicants must agree to work full-time in Arkansas for at least two years upon graduation.

Recipients of the rural veterinary scholarship may receive up to $15,000 per year for up to four years. Applicants must be enrolled in or entering a post-graduate degree program in veterinary medicine at an institution of higher education. Applicants must agree to work full-time upon graduation in rural Arkansas or for a licensed veterinary practice with at least 50 percent of the practice being food animals.

Selections will be based on academic achievement, character, leadership, career plans, and financial need. Please contact Amy Lyman at amy.lyman@agriculture. arkansas.gov with questions regarding the scholarship programs.

MARKET NEWS

as of September 13, 2023

Contact Brandy Carroll brandy.carroll@arfb.com

Tyler Oxner tyler.oxner@arfb.com

Rice

Rice futures are feeling the pressure as harvest is in full swing. We’ve known for months that this crop would be much bigger than 2022 but concerns about global food security have supported prices. India continues to restrict exports as they have suffered its driest August in 100 years. Beginning stocks for 2023/24 were increased in the monthly WASDE and are now projected to be 30.3 million cwt. based on the quarterly Rice Stocks report. The average yield estimate was increased 52 lbs. per acre to a record high of 7,751 lbs. per acre. Harvested acres were increased to 2.85 million acres. Production is now pegged at 220.9 million cwt. and projected ending stocks are 43.2 million cwt. The average on farm price for long grain is now estimated to be $15.00/cwt, down 50¢ from last month’s report. November appears to have topped for the time being at $16.87½ and selling has accelerated after violating the up-trendline drawn off the July low of $14.75.

Cotton

December cotton futures look strong going into harvest. After breaking above previous resistance at 88¢, the market has closes as high as 90¢, which now becomes resistance. In the monthly WASDE, USDA increased beginning stocks but lowered production, exports and ending stocks. Production was cut by 860,000 bales as 600,000 acres was cut from the harvested acres projection, leaving it at 8.02 million acres. Yield is pegged at 786 lbs./acre, and total production is now pegged at 13.13 million bales. The

projected average on farm price is up a penny from last month at 80¢/lb.

Corn

The September WASDE report brought a pessimistic outlook for the market. It predicts slightly higher supplies and ending stocks. For 2023/24 corn production, it forecasts 15.1 billion bushels, a 1% increase of 23 million bushels from last month. This is due to a larger harvested area compensating for a yield reduction. The national average yield is expected to be 173.8 bushels per acre, down 1.3 bushels but up 0.5 bushels from last year. Total U.S. corn use remains unchanged at 14.4 billion bushels, resulting in an increase ending stocks rise by 19 million bushels to reach 2.2 billion. The expected season-average corn price for producers remains at $4.90 per bushel. This, along with the USDA’s larger-thanexpected new-crop carryout estimates, led to a drop in corn futures.

Soybeans

The September supply and demand report shows changes for 2023/24, including lower beginning stocks, production, crush, exports, and ending stocks. Soybean production is estimated at 4.1 billion bushels, a 1% decrease of 59 million bushels. This decline is balanced by a higher harvest area. Harvested area was increased by 0.1 million acres from the August forecast, and the yield is now projected to be 50.1 bushels per acre, down 0.8 bushels from last month but up 0.6 bushels from 2022. Ending stocks are expected to be 220 million bushels, down 25 million from the previous month. The U.S. season-average soybean price is forecasted to be $12.90 per bushel, an increase of $0.20 from last month. Similar to corn, these factors contributed to a price decrease.

Wheat

Wheat prices rebounded after the USDA Supply/Demand report, following earlier lows during the session. The 2023/24 U.S. all wheat outlook for supply and use remained unchanged this month, with offsetting

changes in wheat exports by class. The projected season-average farm price for 2023/24 also stayed steady at $7.50 per bushel. This price support was influenced by a lower-than-expected USDA world wheat carryout estimate, driven by reduced crop estimates for Australia, Argentina, Canada, and the European Union. However, the rebound in wheat futures was limited due to weakness in the corn market and ongoing weak export demand for U.S. wheat.

Livestock and Poultry

In the September Supply/Demand report, the forecast for 2023 red meat and poultry production was lowered on lower beef, pork, and broiler forecasts. Slower cattle marketings were partially offset by higher expected carcass weights. Pork production was lowered on slower slaughter and lighter carcass weights. Broiler production was lowered on current slaughter totals and expectations for lower chick placements and lighter bird weights. The turkey production forecast was unchanged from last month.

Beef import forecasts for 2023 and 2024 were raised on strong demand and exports were lowered for both years on tightening supplies and strong competition. Pork imports were increased for 2023 and unchanged for 2024, while export forecasts for both years were reduced on weaker demand. Broiler exports for 2023. And 2024 were reduced on the current pace of trade and a lower production forecast.

Cattle price forecasts for 2023 and 2024 were unchanged from last month. Hog price forecasts for 2023 was lowered on recent price declines. The broiler price forecast for third quarter 2023 was raised on current prices.

EDITOR

Ashley Wallace ashley.wallace@arfb.com