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USA Rice Daily
Up-to-the-Minute News on Issues and Activities
Tuesday, June 16, 2015

Enrollment Open for USDA's ARC and PLC Programs      

John Owen 

WASHINGTON, DC -- Yesterday, the U.S. Department of Agriculture announced that the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs for 2014 and 2015 will officially be open for enrollment tomorrow, June 17, until September 30.

 

Eligible producers had until April 7 to elect whether they participated in the ARC or the PLC program until 2018 when the current farm bill is set to expire. Nationwide, PLC was the program of choice for rice producers - USDA announced that PLC was selected by 99 percent of long grain rice farms and 94 percent of medium grain rice farms.

 

John Owen, a rice farmer from Rayville, Louisiana, and chairman of the USA Rice Government Affairs Committee said, "USA Rice strongly advocated for a farm safety net program that allowed growers to select which programs worked best for their operation and we're grateful that adequate options were included in the final bill."

 

Owen continued, "Rice growers are experiencing tough times and the safety net provided by the farm bill will help some of us maintain our operations while commodity markets are depressed." 

 

Producers are asked to visit their local Farm Service Agency (FSA) office to formally sign a contract enrolling their operation in ARC or PLC by September 30, 2015, if they wish to participate.

 

For more information about the programs, visit: http://www.fsa.usda.gov/programs-and-services/arcplc_program/index

 

Contact:  Peter Bachmann (703) 236-1475

CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for June 16

Month
Price
Net Change
July 2015$9.800
+ $0.025
September 2015$10.060
+ $0.025
November 2015$10.345
+ $0.040
January 2016$10.605
+ $0.040
March 2016$10.790
+ $0.030
May 2016
$10.790
+ $0.030
July 2016
$10.790
+ $0.030

In the News 

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Around the World

As Tons of Bug-Infested Rice Rots, El Nino Threatens More Damage Bloomberg

After almost a decade of surplus that sent rice futures tumbling to an eight-year low last month, global demand will reach a record 489 million metric tons in 2015-2016, exceeding production for a third straight year, the USDA said June 10. The agency estimates inventories will drop to 91.4 million tons, the smallest since 2008.

 

 

Tariffs and Trade

Mike Espy on Ag Sales to Cuba: Don't Wait, Go There, Meet Farmers Delta Farm Press

Normalization of relations with Cuba is going to happen, says Mike Espy, former Secretary of Agriculture and Mississippi congressman. "We don't know when," he says, but "I believe things are going to open up relatively soon," and those wanting to do business there should be laying the groundwork.

 

What NAFTA Can Teach Us About the Trans-Pacific Partnership Deal Los Angeles Times

Americans have been fighting over free trade and its fallout since the North American Free Trade Agreement, which went into effect in 1994 despite strong opposition from unions and their workers' rights allies. NAFTA cut tariffs and changed rules to allow free trade among the United States, Canada and Mexico. Ever since, NAFTA has served as a template for agreements that cover U.S. free-trade relations, which have grown to include 20 countries.

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