In This Issue:
- Happy Holidays from USRPA
- U.S. Rice Market Update: Farmers Looking for 2022 Incentives
- Agricultural Resource Management Survey (ARMS)
- Marsha Fair (1946 - 2021)
- Washington, D.C. Update
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Happy Holidays from USRPA |
All of us take this time of the year to reflect on the past and anticipate the new in the field, in the marketplace, and in Washington, DC. We want to thank all of our supporters throughout the Delta and Gulf Coast. We also want to give our sincere thanks to all of our rice industry friends throughout Latin America and all corners of the world for your support, especially during the pandemic. Our thoughts and prayers are with all of you and your families, especially those of you who have lost loved ones and friends due to the virus, climate disasters, etc., as we have in our homes and neighborhoods. 2022 will bring new developments and the USRPA is preparing for a new chapter in what will be the 25th anniversary of the organization. Our best wishes to you for a safe, healthy year. If you are farming in today’s world market conditions, then you certainly know what you are doing! Nothing is easy. The challenges have never been so happy holiday season.
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U.S. Rice Market Update: Farmers Looking for 2022 Incentives |
The cash market throughout most of the Delta already seems to be on Christmas break as only limited sales are being reported. Slower demand down the river has kept a lid on long-grain prices, and once again, the cash market in Louisiana, Texas, Arkansas, and Mississippi is unchanged. The market has traded sideways for nearly a month. While growers require more favorable prices for greater production in 2022, demand requires either higher prices out of South America or even lower prices in the Delta.
US long-grain exports to Venezuela and Mexico have both suffered due Brazil overtaking some of the market. Also, in recent weeks, Brazil made a large sale to the Central America, further reducing the demand for US rice into that region. US paddy prices delivered to Central America are reported to be $20-30 per ton higher than the rice being originated in South America.
Brazil is aggressively seeking to expand its presence in the western hemisphere; according to the latest USDA data, Brazil’s exports are estimated to be up 39% against last year. Meanwhile, the country’s production and domestic use are relatively steady. In other words, analysts anticipate Brazil drawing down its ending stocks this year in order to achieve greater market share in the region. In fact, Mercosur as a whole is projected to end the year with the lowest stocks seen in roughly five years.
Fortunately, the US rice industry has found some solace in the reinvigorated Iraqi market which has already provided the US with a sizable 120,000 MT purchase. With Haiti demand trailing last year by nearly 30%, the importance of the Iraqi market has perhaps reached an all-time high. Haitian business seems to be slowly returning following the assassination of the country’s president; however, it’ll likely be years before the market reaches its previous equilibrium.
In Asia, much like the US, the market has remained relatively steady with few changes to report. Prices have held constant, with Thai reporting $385 pmt, Viet reporting $400 pmt, and India still down at $350 pmt. It’s interesting to note that Thai rice has dropped nearly 25% from a year ago, Viet 20%, and Indian rice a mere 3%. The consistent pricing out of India can be attributed to their third record crop, ability to maintain shipments during COVID, and what some are now arguing are unfair agricultural subsidies. Viet and Thai rice have seen more drastic fluctuations largely on account of supply side economics and COVID-related port/logistic shutdowns.
The weekly USDA Export Sales report shows net sales of 51,800 MT for 2021/2022, which is up 6% from the previous week, but down 13% from the prior 4-week average. Increases were primarily for Mexico (21,400), Japan (13,000 MT), Nicaragua (11,100 MT), Canada (4,200 MT), and Saudi Arabia (900 MT). Exports of 60,600 MT were down 1% from the previous week and 27% from the prior 4-week average. The destinations were primarily to Mexico (25,800 MT), Costa Rica (18,400 MT), Nicaragua (11,100 MT), Canada (2,700 MT), and Saudi Arabia (900 MT).
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Agricultural Resource Management Survey (ARMS)
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USDA COUNTS BECAUSE AMERICA
COUNTS ON FARMERS
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Please respond to U.S. Department of Agriculture interviewers
who may call to help you complete the
Agricultural Resource Management Survey (ARMS)
from Dec. 20 through Jan. 14.
They will ask survey questions about your rice production practices,
fertilizer and pesticide use, cropping practice, and technology management.
It is important to respond to make sure you are represented in your state!
Collecting your data by phone is the best way for USDA to get the information we need to make sure your operation is counted. Rice producers in Arkansas, Louisiana, Mississippi, Missouri, California and Texas will be contacted.
For more information about this survey, visit https://nass.usda.gov/go/arms or contact Jim.Barrett@usda.gov.
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Why is this important:
- The data from these surveys will be used for at least 6 years
- Farm Policy is written based on these surveys
- This is your opportunity to tell Washington, D.C. what farmers really need
- Survey data will determine Base Prices for 6 Years
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Talk to your neighbors, encourage them to participate!
America's rice farming future needs your voice!
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Marsha Fair (1946 - 2021) |
Marsha Rhea Fair was born Jan. 1, just an hour and 46 minutes into 1946, at Nobles Memorial Hospital in Paris, Tenn., where her mother, Jeanne Bradsher Fair worked as a nurse while her father, war hero B-17 pilot, Capt. Albert L. Fair Jr., finished duty in the Army Air Corps nearby.
Marsha Rhea slipped away from her earthly life without warning or fanfare, on Nov. 8, 2021, at the end of a short stay at a Jonesboro hospital.
Marsha's gift for languages took on a very personal meaning for her when she went to work for the US Rice Council and combined her knowledge of languages with her lifelong interest in farming.
She straddled several worlds which afforded her an enlarged worldview of life.
She had a definite and pronounced "joie de vivre." She loved to laugh, entertain and cook for friends, and always enjoyed lively conversations, making it challenging but joyous to be in her company - unless you told her she was wrong about something she knew to be true.
She did not suffer fools well. She also had a keen insight into human nature. And she had a lifelong passion for reading and learning.
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All these characteristics served her well in her work promoting U.S. rice in Latin America. The work was a challenge in itself as the markets for U.S. rice were not evenly matched, but Marsha's love of languages and studies of marketing made her the perfect fit for her position marketing U.S. rice abroad.
Her territory originally was the Western Hemisphere.
Marsha had a long and meaningful marketing career with the United States Rice Industry. Starting with the USA Rice Council, a Houston-based rice growers association, she helped develop new markets to export rice grown in the U.S. - much of it grown in her native Arkansas.
Most notably, Marsha worked on developing the Latin American markets of Mexico and Central America. She traveled extensively and often to countries such as Costa Rica, Guatemala, Honduras, Nicaragua, Mexico and Colombia.
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Marsha was at ease with everyone on her travels, from the heads of government agencies she visited to the humblest of farmers seeking simply to improve their growing techniques.
She hosted and acted as "tour guide" for groups of rice farmers and potential buyers who came often to Northeast Arkansas to see U.S. rice operations in the Poinsett County area, sometimes also driving a van of chattering foreigners blasting her with one question after another as she shuttled the fascinated rice industry visitors from Little Rock to Stuttgart, then on to Weiner and Jonesboro, normally ending up in Memphis for a great meal and an evening of fellowship and learning, all the time speaking the language of the visitors, mostly Spanish but sometimes Portuguese or regional dialects, answering complex technical questions, as well as joking with the groups and their hearty laughter and cajoling.
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She traveled on official rice marketing business to Cuba more than once, and if he had not been traveling at those times, she most likely would have been granted an audience with Cuban President Fidel Castro, instead of his brother, Raoul Castro, who received Marsha graciously.
After leaving what later became the USA Rice Federation, Marsha continued her work in Latin America as a consultant with the US Rice Producers Association. She was thrilled to spend her last years working from home at her family farm near Marked Tree.
It was not uncommon for her to be mowing the grass at home one day and to be on a plane to Columbia the next day for rice business, where she was protected in her travels by gun-toting guards or servicemen from the United States Embassies.
But she took it all in stride as just another necessary aspect of her working environment.
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Jim Willis, president of International Programs for the US Rice Council and its later incarnations, upon learning of Marsha's passing stated, "There's no way of measuring the impact Marsha had on increasing the demand for rice and therefore U.S. farm prices through the introduction of U.S. rice in school lunch programs in Latin America."
Willis praised Marsha's work and character further, saying with great emotion and genuine warmth, "Marsha was a key to building our largest markets for U.S. rice in Latin America. It wasn't just her aptitude for speaking Spanish; it was her attitude. She was so empathetic that she became a big hit with all, including rice marketers, promoters, teachers and students."
Willis continued, "The rice industry needs to erect a memorial to Marsha for what she did to build the largest market for U.S. long-grain rice in Latin America. I hurt for not getting to see her one more time."Jim Willis, president of International Programs for the US Rice Council and its later incarnations, upon learning of Marsha's passing stated, "There's no way of measuring the impact Marsha had on increasing the demand for rice and therefore U.S. farm prices through the introduction of U.S. rice in school lunch programs in Latin America."
Willis praised Marsha's work and character further, saying with great emotion and genuine warmth, "Marsha was a key to building our largest markets for U.S. rice in Latin America. It wasn't just her aptitude for speaking Spanish; it was her attitude. She was so empathetic that she became a big hit with all, including rice marketers, promoters, teachers and students."
Willis continued, "The rice industry needs to erect a memorial to Marsha for what she did to build the largest market for U.S. long-grain rice in Latin America. I hurt for not getting to see her one more time."
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Marcela Garcia, President & CEO of USRPA added, "I had the opportunity to travel with Marsha extensively throughout Central America when I began my career at USRPA. I admired her quick wit, intelligence, and passion for her work, especially educating underserved communities on how to use rice to feed their families a nutritious and fulfilling meal. She was a very kind soul and I am honored to have so many great memories with her."
Marsha Fair will always be remembered fondly by those she touched throughout her career here at the US Rice Producers Assocition.
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President Joe Biden announced his intent to nominate Summer Mersinger and Caroline Pham for Commissioner of the Commodity Futures Trading Commission.
Summer Mersinger has over 17 years of federal government service, spending the last two years at the Commodity Futures Trading Commission where she served as chief of staff to Commissioner Dawn D. Stump and as the director of Legislative and Intergovernmental Affairs. Prior federal service included 15 years working on Capitol Hill in the House of Representatives and the Senate for her home state Congressman and then Senator, John Thune from South Dakota. Mersinger is a native of South Dakota who grew up in a farm family where row crops such as wheat, sunflowers, corn, and soybeans are still grown and harvested by her immediate family members. Mersinger received her undergraduate degree in political science from the University of Minnesota-Twin Cities in 1999. Mersinger received her law degree in 2007 from Catholic University’s Columbus School of Law in Washington, D.C. Mersinger is a member of the D.C. Bar, a volunteer with Fairfax CASA (Court Appointed Special Advocates). She resides in Fairfax Station, Virginia with her husband, two daughters, and two sons.
Caroline Pham has experience in financial services compliance and regulatory strategy and policy, focusing on capital markets and emerging issues such as digital innovation. Pham is a Managing Director at Citi where she has held various senior roles, including as a global head of compliance and deputy head of global regulatory affairs. She is currently head of market structure for strategic initiatives in Citi’s Institutional Clients Group and represents Citi on the Executive Committee of the Chamber of Digital Commerce. Pham has advised on key global issues such as prudential regulation and systemic risk, financial markets including currencies and commodities, fintech and digital assets, and environmental, social and governance (ESG), and has led initiatives for Dodd-Frank Act implementation and other global financial regulatory reform. Pham’s past experience includes serving as Special Counsel and Policy Advisor to former CFTC Commissioner Scott O’Malia. She was also a Visiting Fellow at the George Washington University Center for Law, Economics, and Finance and serves on the Dean’s Advisory Council for the Business and Finance Law Program. Pham is a Fellow of the American Bar Foundation; member of the Council of the American Bar Association Business Law Section and the Executive Committee of its Diversity, Equity and Inclusion Board; Vice Chair of its Banking Law Committee; and past Co-Chair of the Securities, Capital Markets, and Derivatives Subcommittee. Pham has a B.A. from UCLA and a J.D. from the George Washington University Law School. Pham is from California’s Central Valley and lives in New York City with her family.
Meanwhile in the Senate, U.S. Senators Debbie Stabenow (D-Mich.), Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, and John Boozman (R-Ark.), Ranking Member, announced that the U.S. Senate voted to confirm Rostin Behnam to serve as Chairman and Commissioner of the Commodity Futures Trading Commission (CFTC). Mr. Behnam has been serving as a Commissioner on the CFTC for the past four years and was nominated for a second term earlier this year. The Committee previously held a hearing on the nomination of Mr. Rostin Behnam on October 27, 2021.
The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974, that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options.
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OFFICE OF COMMUNICATIONS // PRESSUSDA.GOV
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Secretary Vilsack Thanks America's Agricultural Producers | |
"As we wrap up 2021 and begin a new year, I wanted to take a moment to say thank you to America’s producers across our great country. In 2021 we continued to face many challenges – from the continuation of the global pandemic, to droughts, wildfires, floods, disease, and supply chain constraints.
Yet, despite any obstacle, we also witnessed the incredible resilience and power of farmers, ranchers, farm workers, and processors to forge a path forward and to put food on the table for all of us."
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Nicaragua: Record Exports At Risk
Following Sham Elections
Strong global commodity prices and sustained Nicaraguan livestock sector growth helped propel U.S. agricultural exports to Nicaragua through September 2021 to new heights. However, industry sources anticipate deteriorating economic conditions following sham November elections could derail Nicaraguan agricultural sector growth as well as the record pace of U.S. commodity exports fueling it.
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Rice export prices decreased 1-2 percent due to the weakening of the Thai baht against the U.S. dollar that offset the upward pressure on current domestic prices of paddy rice.
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FAS/Bangkok (Post) revised MY2021/22 rice production down slightly to 20.8 million metric tons due to flood damage in the northeastern regions. Post expects Thai rice exports to increase to 5.8 million metric tons in 2021.
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Food and Agriculture
Regulatory and
Policy Roundup
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Cornerstone
Trade Update
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Joint Western Rice Belt Conf. & Texas Rice Council Annual Meeting
El Campo Civic Center, El Campo, Texas
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Southeast Texas Rice Symposium
Winnie, TX
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25th Annual NCS Cotton & Rice Conference
Embassy Suites By Hilton Red Wolf Convention Center, Jonesboro, AR
https://www.nctd.net/
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Missouri Rice Research & Merchandising Council Annual Meeting
The Gathering @ Versity Crossing, Dexter, MO
More Details to Follow
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34th Annual Arkansas Agricultural Hall of Fame Induction Luncheon: Embassy Suites, Little Rock, Arkansas – event details and tickets (RESCHEDULED) | |
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