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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, November 5, 2014
2014 Midterm Election Analysis:  Committee Spot Check      
 
The new Ag Chairman 

WASHINGTON, DC -- The midterm elections yesterday resulted in the GOP gaining control of the U.S. Senate, increasing the party's majority in the House, while also increasing the number of Republican governors and control of state legislatures.

 

At press time, Republicans hold 52 Senate seats, a gain of seven seats.  The outcome of the Louisiana race will be determined in a December runoff.  GOP contender Dan Sullivan leads in Alaska, while Democratic Senator Mark Warner of Virginia holds onto a slim lead in his race. 

 

In the House, the GOP has expanded its majority by 14 seats so far, with 19 contests undecided.

 

The final size of the Republican majority in both chambers is important because Congressional tradition calls for committee assignment ratios to mirror the overall make-up of the House and Senate.

 

Significant changes are coming to the Senate Agriculture Committee where there are at least four vacancies (Senators Harkin (D-IA), Chambliss (R-GA), Johanns (R-NE), and Walsh (D-MT)).  Also, Senator Cochran (R-MS) is expected to reclaim Chairmanship of the powerful Appropriations Committee, leaving Senator Pat Roberts (R-KS) next in seniority to claim the Senate Ag Committee Chairmanship. 

 

There are also at least five slots to fill on the House Agriculture Committee, including seats vacated by Representatives McIntyre (D-NC), McLeod (D-CA), Gallego (D-TX), and Enyart (D-IL), and Representative Costa (D-CA) who has apparently lost his reelection bid.   

 

Representative Mike Conaway (R-TX) is expected to ascend to the chairmanship of the House Agriculture Committee, while Representative Collin Peterson (D-MN) will retain his position as Ranking Member.

 

On the Senate Agriculture Appropriations Subcommittee, there are three vacancies including the seats of current Chairman Senator Pryor (D-AR) and Senators Harkin (D-IA) and Johnson (D-SD).  Senator Tester (D-MT) will become Ranking Member, and Senator Blunt (R-MO) is in line to take the Chairmanship.

 

On the House Ag Appropriations Subcommittee, Representative Aderholt (R-AL) may retain his post as Chairman, but has indicated he may opt for another subcommittee.  Representative Nunnelee (R-MS) is next in seniority.  Representative Farr (D-CA) is expected to keep his post as Ranking Member.

 

Three rice states elected governors yesterday. In Arkansas, former Representative Asa Hutchinson (R) defeated fellow former Congressman Mike Ross (D).  Voters re-elected California Governor Jerry Brown (D), while in Texas, State Attorney General Greg Abbott (R) defeated Wendy Davis (D).

 

USA Rice will continue to monitor late election results and leadership shifts that will impact the rice industry.  Watch USA Rice Daily for continued analysis.

 

Contact:  Ben Mosely (703) 236-1471

USA Rice PAC Logs Impressive 94 Percent Win Rate     

ARLINGTON, VA -- The USA Rice PAC contributed to 83 races during the 2014 midterm election cycle.  Ninety-four percent of USA Rice-backed candidates won their races, five percent lost, and two races are undecided as of press time.

 

Specifically, in Senate races, five of seven USA Rice-supported candidates were victorious, one was defeated, and one moves to a December run-off election.  In House races, 73 of 77 USA Rice-supported candidates won, three were defeated, and one is too close to call.

 

Contact:  Lydia Holmes (703) 236-1440

 
A batting average to envy 

 

Expected Key Committee Leadership in the 114th Congress      

ARLINGTON, VA -- There is often wrangling before Committee leaders are finalized in January, but today, the day after election day 2014, here's what insiders say key Committees will look like next year.

 

Senate Committee
Chairman
Ranking Member
Agriculture, Nutrition, and Forestry
Pat Roberts (KS)
Amy Klocbuchar (MN)
Appropriations
Thad Cochran (MS)
Barbara Mikulski (MD)
Energy and Natural Resources
Lisa Murkowski (AK)
Mary Landrieu (LA)
(Maria Cantwell (WA))
Environment and Public Works
James Inhofe (OK)
Barbara Boxer (CA)
Finance
Orrin Hatch (UT)
Ron Wyden (OR)
House Committee


Agriculture
Michael Conaway (TX)
Collin Peterson (MN)
Appropriations
Harold Rogers (KY)
Nita Lowey (NY)
Energy and Commerce
Fred Upton (MI)
Anna Eschoo (CA)
(Frank Pallone (NJ))
Natural Resources
Rob Bishop (UT)
Peter DeFazio (OR)
Ways & Means
Paul Ryan (WI)
(Kevin Brady (TX))
Sander Levin (MI)

 

Contact:  Michael Klein (703) 236-1458

 

USDA Announces Export Guarantee Allocations 

WASHINGTON, DC -- The U.S. Department of Agriculture's (USDA) Export Credit Guarantee Program (GSM-102) has recently allocated fiscal year 2015 funds.  The GSM-102 provides credit guarantees to encourage financing of commercial exports of U.S. agricultural commodities, including rice.

 

By reducing financial risk to lenders, credit guarantees encourage exports to importers in countries -- mainly developing countries -- that have sufficient financial strength to have foreign exchange available for scheduled payments. 

 

In FY14, nearly $170 million in credit guarantees for rice were registered in the Caribbean, Central America, Mexico, South America and Turkey.

 

Contact:  Sarah Moran (703) 236-1457

CCC Announces Prevailing World Market Prices 
WASHINGTON, DC -- 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 2014 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
17.56
11.14
0.00
Medium-/Short-Grain
16.99
11.44
0.00
Brokens
10.59
----
----

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
55.83/12.59
6.50
Medium-/Short-Grain
62.39/7.92
6.50
 
The next program announcement is scheduled for November 12. 
CME Group/Closing Rough Rice Futures   
CME Group (Preliminary):  Closing Rough Rice Futures for November 5


Month
Price
Net Change
November 2014
$12.155
- $0.010
January 2015
$12.415
- $0.020
March 2015
$12.685
- $0.015
May 2015
$12.940
- $0.015
July 2015
$13.120
- $0.015
September 2015
$12.485
- $0.015
November 2015
$12.385
- $0.015


In the News  

Around Washington

Republicans Take the Senate, Roberts Headed to Senate Ag Committee Agri-Pulse

Roberts (R-KS), who previously chaired the House Committee on Agriculture from 1995-1997, said he would be the next chairman of the Senate Committee on Agriculture and "we will put farmers and ranchers first."

 

USDA published an interim final rule containing the statutory changes to CSP in the Federal Register today. USDA is seeking public comment on the rule through Jan. 5, 2015. The public comments will be used to finalize the interim final rule.

 

 

Around the Country

Agriculture Workforce Demands Young Job Candidates, STEM Education Farm Futures

From January to August 2014, the food and agriculture industries hired nearly 34,000 people per month. Additionally, a quarter of current food and agriculture professionals are age 55 or older, meaning workforce attrition will create additional opportunities for young professionals to advance in their careers.

 

Crop Insurance Takes Larger Role in Drought Aid AgAlert

California crop insurance policies cover 6.7 million acres and more than $7.6 billion of liability for 55 different crops. Specific to drought, so far this year more than $88 million has been paid to growers who were prevented from planting a crop due to drought.

 

 

Around the World

More Than 40 Percent of China's Arable Land Degraded: Xinhua Reuters

The rich black soil in northern Heilongjiang province, which forms part of China's bread basket, is thinning, while farmland in China's south is suffering from acidification, according to the official news agency report.

 

 

Health and Nutrition

MyPlate Tip of the Day USDA

Rice pudding is a favorite dessert. Make it with low-fat milk and top it with a sprinkle of cinnamon or sliced fruit.

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Mission Statement
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.
About Us
Editor: Michael Klein,
(703) 236-1458,
mklein@usarice.com

Fax (703) 236-2301

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Arlington, VA 22201

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.