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Wednesday, July 1, 2015
USA Rice Chair Appointed to Critical Trade Advisory Committee
Dow Brantley
WASHINGTON, DC -- U.S. Department of Agriculture Secretary Tom Vilsack and United States Trade Representative Michael Froman today announced appointments to the Agricultural Policy Advisory Committee (APAC).  USA Rice Chairman Dow Brantley was tapped to join the APAC, a select group of trade experts that provides advice and information to the government on the administration of trade policy, including enforcement of existing trade agreements and negotiating objectives for new trade agreements.

"This is great news for USA Rice to be back on the advisory committee, and I want to thank Dow for his willingness to serve," said USA Rice President & CEO Betsy Ward.

Brantley, a rice producer from England, Arkansas, said, "I feel like my appointment to APAC will ensure that the U.S. rice industry is at the forefront on trade policy.  Trade is a top priority and I am happy to provide advice or guidance that will benefit U.S. rice."

USA Rice COO Bob Cummings was also reappointed to the Agricultural Technical Advisory Committee (ATAC) for Trade in Grains, Feed, Oilseeds and Planting Seeds.  The six different ATACs offer technical advice and information about specific commodities and products.

"The individuals we are appointing today represent one of the most important sectors to America's export economy and will provide critical advice as we negotiate the Trans-Pacific Partnership, Transatlantic Trade and Investment Partnership, and work to expand export opportunities for American agriculture," said Froman.

This group of committee members will serve until June 15, 2019.

Contact:  Deborah Willenborg (703) 236-1444
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 will become 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
14.59
9.45  
0.00
Medium/Short Grain
14.21
9.57  
0.00
Brokens
  8.80 
----
----

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
57.21/12.55
6.64
Medium/Short Grain
61.89/8.83
6.51
 
The next program announcement is scheduled for July 8, 2015.    
CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for July 1

Month
Price
Net Change
July 2015$10.355
 + $0.190
September 2015$10.625
+ $0.170
November 2015$10.890
+ $0.175
January 2016$11.155
+ $0.175
March 2016$11.360
+ $0.175
May 2016
$11.360
+ $0.175
July 2016
$11.360
+ $0.175

In the News 

Around the Country

Central Texans Worried about Water Supply Ahead of TCEQ Vote KXAN-NBC

The TCEQ will make a decision today on a request by the Lower Colorado River Authority to extend an emergency order which would keep water from being released downstream to farmers.

 

Mississippi River Could Put Riverside Crops Underwater Delta Farm Press

The prediction is "some of the riverside farmland may get as much as two feet of water. Some of that land isn't expected to be dry until mid-July or even later.

 

 

Tariffs and Trade

Members Named to Seven Agricultural Trade Advisory Committees USTR

Agriculture Secretary Tom Vilsack and United States Trade Representative Michael Froman today announced the appointment of 129 private-sector members to the Agricultural Policy Advisory Committee (APAC) and six Agricultural Technical Advisory Committees (ATACs). USA Rice Chairman Dow Brantley was named to the Agricultural Policy Advisory Committee.

 

U.S. and Cuba Agree to Open Embassies and Restore Diplomatic Relations  

Los Angeles Times

The diplomatic development is the most authoritative move the Obama administration can make unilaterally without an act of Congress, which still holds the power to lift or retain the Cuban economic embargo that has been in place for decades.
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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

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