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USA Rice Daily
Up-to-the-Minute News on Issues and Activities
Thursday, March 26, 2015

House Agriculture Subcommittee Addresses Actively Engaged, Crop Insurance

Rep. Rick Crawford (center) meets with Arkansas rice producers Dow Brantley (l)
and Steve Orlicek (r) at this year's
Government Affairs Conference
WASHINGTON, DC -- The House Agriculture Subcommittee on General Farm Commodities and Risk Management met today to discuss current issues in farm bill implementation.  The hearing was well-timed, on the heels of the USA Rice Federation supplying information to the committee about rice priorities and concerns.

 

Subcommittee Chairman Rick Crawford (R-AR) opened the hearing with an emphasis on the importance of the Farm Bill and the programs it authorizes as well as concerns about the actively engaged proposed rule and margin coverage insurance for rice farmers.

 

Crawford called newly proposed "actively engaged" regulations "arbitrary and capricious," noting that the regulation "ignores the remarkable diversity and complexity in agriculture today."

 

The hearing focused more specifically on crop insurance programs including how the Supplemental Coverage Option (SCO) applies to rice.

 

"After years of low participation and recent news that basic revenue protection will not be available this year to rice producers, I hope you will do all you can to ensure that this new margin product works for rice producers, in particular," Crawford said.

 

USDA Risk Management Agency Administrator Brandon Willis responded with an assurance that his agency is eager to find a solution to price discovery and county coverage issues for rice and will continue to seek input from stakeholders.

 

Contact:  Lydia Holmes (703) 236-1440

USA Rice Wants to Hear from 2014 Outlook Attendees as 2015 Planning Gets Underway        

 
Can it get any better than this?

ARLINGTON, VA -- The USA Rice Federation is seeking feedback from participants in the 2014 USA Rice Outlook Conference on their experience at this year's trade show.  Members who attended can go
here to complete the online survey.

 

The trade show was held at the Statehouse Convention Center in Little Rock, AR during the conference and included a variety of companies and organizations relevant to the rice industry.  Seventy-two exhibitors were featured along with a presentation of new products and technology to help connect industry professionals with new vendors and products.

 

"We have several enhancements in mind for the 2015 trade show, but want to hear from attendees about what they thought worked and what can be improved," said Jeanette Davis, USA Rice's director of meetings.  "Planning for this year's conference in New Orleans is underway and we want to be sure we're always moving forward."

 

Davis is urging 2014 attendees to fill out the survey, and said she's happy to take inquiries about exhibit space or sponsorship at the 2015 event.  She can be reached at [email protected] or (703) 236-1447.

 

Contact:  Lydia Holmes (703) 236-1440

Weekly Rice Sales, Exports Reported        

WASHINGTON, DC -- Net rice sales of 108,400 MT for 2014/2015 were up 42 percent from the previous week and 34 percent from the prior four-week average, according to today's Export Sales Highlights report.  Increases were reported for Colombia (63,300 MT), Haiti (14,700 MT), Japan (13,100 MT), Honduras (5,700 MT), and South Korea (5,500 MT). 

Exports of 81,400 MT were up 95 percent from the previous week and 47 percent from the prior four-week average.  The primary destinations were Mexico (27,700 MT), Haiti (24,600 MT), Colombia (17,300 MT), Honduras (4,900 MT), and Canada (2,300 MT).

This summary is based on reports from exporters from the period March 13-19.
CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for March 26

Month
Price
Net Change
May 2015$11.110
+ $0.150
July 2015$11.355
+ $0.145
September 2015$11.490
+ $0.125
November 2016$11.600
+ $0.065
January 2016$11.725
+ $0.035
March 2016$11.725
+ $0.035
May 2016$11.725
+ $0.035

In the News 

Around Washington

Too Early to Condemn Farm Bill for High Costs Politico

The knives are out for the new farm bill even before next Tuesday's deadline for producers to sign up with the Agriculture Department for the first commodity support payments due in October. A spate of recent forecasts shows that costs will be higher than predicted given the drop in grain prices. But in the rush to judgment, one cardinal rule still applies: As thickheaded as the farm lobby can be, its critics are often thicker.

 

 

Around the Country

$700 an Acre-Foot, But Will Water be Sold? Appeal-Democrat

At the reported price of $700 for an acre-foot of water, some rice farmers could make more money selling water than planting rice. That has raised concerns about impacts to the local economy, as agriculture props up a number of supporting industries. But many irrigation districts cap the amount of water that can be transferred, and others have a no-fallowing policy, both of which mitigate potential economic impacts.

 

 

Health and Nutrition

Adding This Ingredient to Your Rice Could Cut Calories in Half CBS News

Researchers at the College of Chemical Sciences in Sri Lanka successfully tested out their theory that using a specific heating and cooling process could increase the presence of resistant starch and thereby minimize the body's calorie absorption from rice.

 

 

Tariffs and Trade

'Best Way to Get a Free Cuba is to Trade With Them' Delta Farm Press

Until a majority of members of the U.S. Congress decide to let bygones be bygones and lift the remainder of the restrictions on rice exports to Cuba, the latter will be one more market that the U.S. is seemingly locked out of.

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