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USA Rice Federation is the global advocate of all segments of the U.S. rice industry with a mission to promote and protect the interests of producers, millers, merchants and allied businesses.  
Wednesday, May 14, 2014

Louisiana Rice Check-Off Programs Fixed in Legislature, On to Governor   

 
Hazardous duty  
at the LSU AgCenter. 

BATON ROUGE, LA -- Two bills, (HB 886 and HB 1045), funding vital research and promotion efforts for the state rice industry were unanimously approved by the Louisiana State Senate yesterday.  The bills passed the House last month, and now head to Governor Jindal for his approval.  The bills make changes to the Louisiana Rice Check-Off statutes introduced in response to the state Supreme Court's ruling late last year that elements of the statutes, created forty years ago, were unconstitutional.

 

The newly minted legislation was the result of unprecedented unity from all segments of the $2 billion state industry and sets assessments at current levels, expands the size of the rice research and promotion boards by two seats each, and provides a refund provision for any growers who do not wish to support research or promotion activities funded by check-off dollars.

 

"The rice research and rice promotion programs are both key components to the success and sustainability of our Rice Industry today and for generations to come.  I am glad we were able to come together collectively as a Rice Industry and pass this legislation," said Richard Fontenot, chairman of the Louisiana Farm Bureau Rice Advisory Committee.

 

"In 1972 our predecessors had the foresight to initiate grower-directed rice research and promotion check-off programs to ensure a viable industry for years to come," said John Owen, a rice farmer from Rayville, Louisiana and president of the Louisiana Rice Growers Association.  "I greatly admire their forward thinking and I, along with every other grower in the state, am reaping the benefits of that vision today.  I am pleased that all segments of the Louisiana rice industry came together to lead efforts to ensure that these critical check-off programs continue."

 

Contact:  Randy Jemison, (337) 738-7009

USA Rice Leaders Attend World Market Price Meeting   

 
Getting a global perspective on rice 

WASHINGTON, DC -- Members of the USA Rice Federation World Market Price Subcommittee met this morning with representatives from the U.S. Department of Agriculture's National Agricultural Statistics Service (NASS), Foreign Agricultural Service (FAS), Farm Service Agency (FSA), and Economic Research Service (ERS) to discuss a broad range U.S. rice industry issues.  The discussion included perspectives on the March prospective plantings report, domestic rice stocks, NASS yield and price reporting issues, and a review of the world and U.S. supply/demand situation.

 

The group focused closely on a number of rice trade issues, including policy updates regarding the Colombia Free Trade Agreement, the Trans-Pacific Partnership, and the Transatlantic Trade and Investment Partnership.  Market access issues in Japan, South Korea, and Taiwan and the ongoing efforts of USDA to finalize a phytosanitary protocol with China for U.S. rice were discussed, along with a review of the global situation including Thailand, India, Vietnam, Brazil, and Iraq.

 

The next subcommittee meeting with USDA is scheduled for October.

 

Contact:  Kristen Dayton, (703) 236-1464

CCC Announces Prevailing World Market Prices 
WASHINGTON -- The Department of Agriculture's Commodity Credit Corporation today announced the following prevailing world market prices of milled and rough rice, adjusted for U.S. milling yields and location, and the resulting marketing loan-gain (MLG) and loan deficiency payment (LDP) rates applicable to the 2013 crop, which became effective today at 7:00 a.m., Eastern Time (ET).  Prices are unchanged from the previous announcement. 

 
World Price
MLG/LDP Rate
 
Milled Value ($/cwt)
Rough ($/cwt)
Rough ($/cwt)
Long-Grain
17.72
11.63
0.00
Medium-/Short-Grain
17.35
11.88
0.00
Brokens
12.14
----
----

This week's prevailing world market prices and MLG/LDP rates are based on the following U.S. milling yields and the corresponding loan rates:

 
U.S. Milling Yields
Whole/Broken
(lbs/cwt)
Loan Rate
($/cwt)
Long-Grain
57.94/11.23
6.65
Medium-/Short-Grain
63.26/7.45
6.58
 
The next program announcement is scheduled for May 21. 
CME Group/Closing Rough Rice Futures   
CME Group (Preliminary):  Closing Rough Rice Futures for May 14


Month
Price
Net Change
May 2014
$15.205
- $0.025
July 2014
$15.280
- $0.045
September 2014
$14.480
 + $0.065
November 2014
$14.605
+ $0.065
January 2015
$14.780
+ $0.060
March 2015
$14.875
+ $0.040
May 2015
$14.875
+ $0.040
July 2015
$14.875
UNCH


In the News

Around the Country

Farmers and Foodies: A Conversation Daily Yonder

Caught in the middle between corporate agriculture and the local food enthusiasts are multi-generational family farmers

 

Partially Parched: Half of US is in Drought Yahoo

The U.S. drought is concentrated in the Plains states and in the West, though Hawaii, Puerto Rico and the Appalachians stretching from West Virginia into eastern Tennessee

 

Shinmei Set to Build $10M Rice Bun Factory in West Sacramento  

Sacramento Business Journal

The Kobe, Japan-based company is building a 28,000-square-foot building on six acres in the Southport Business Park to make rice buns, a popular product in Japan and much of Asia

 

Slow Water Deliveries Drag Out Rice Planting Season Capital Ag Press

Planting is usually nearly finished by now but this year some growers expect to be planting into June

 

Texas Crop, Weather: Rice Two to Three Weeks Behind in Some Coastal Bend Areas

North Texas E-News

This year an unseasonably cool spring and late freezes delayed planting and slowed growth

 

 

Around the World

A Bigger Rice Bowl Economist

Researchers plan to tailor seeds for particular environments (dry, flooded, salty and so on) and they are also trying to boost the nutritional quality of rice, not just the number of calories

 

WTO Chief to Visit Korea Over Rice Tariffs Korea Herald

Trade and agricultural ministries are scheduled to decide on whether Korea will eliminate all tariffs for the rice market from next year, or request another postponement or waiver

 

 

Science and Technology

Monocrops: They're a Problem, But Farmers Aren't the Ones Who Can Solve It Washington Post

There are two problems with monocrops: they are not conducive to good soil health, and, when all your eggs are in one basket, you're vulnerable to a devastating loss

 

Where Would Agriculture be Without University Research? Western Farm Press

American agriculture owes much of its success to the land grant institutions and the work of cooperative extension making the farm advisor an invaluable part of the commercial farming operation

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USA Rice Federation is the global advocate for all segments of the U.S. rice industry with a mission to promote and protect the interests of producers, millers, merchants and allied businesses.
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Editor: Michael Klein,
(703) 236-1458,
mklein@usarice.com

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This report is time-sensitive, based on information available at press time. Content is derived from facts and sources believed to be reliable. Reprinting and/or distribution may be done with permission of the USA Rice Federation

Copyright © 2014. Please direct comments or questions to the editor or contact name listed for each story.