USA Rice Daily, Wednesday, June 20, 2012
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USA Rice Daily
Up-to-the-Minute News on Issues and Activities
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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.
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Farm Bill Should Be Equitable to All Crops and Regions, Rice Caucus Members Say
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WASHINGTON -- The overriding farm bill principle should be equity for all crops and regions from both a policy and budget perspective, Rep. Rick Crawford (R-AR) and 12 other House Rice Caucus members told House Agriculture Committee leaders in a June 19 letter. Crawford, a member of the House Agriculture Committee, co-chairs the House Rice Caucus with Rep. Dennis Cardoza (D-CA).
The lawmakers expressed strong support for three principles, emphasizing that they want to work with committee leaders "to ensure these provisions are included in the farm bill that is reported from the committee." The central purpose of farm policy should be "to provide effective protection for producers," they said. With elimination of direct payments, the Caucus members support "the enhancement of counter-cyclical policies to provide a true price loss protection coverage option..." in addition to a revenue-based option, to enable producers to choose the best program that meets their risk management needs.
Rice Caucus members oppose any further changes to current farm safety-net eligibility policy and support setting payment limits at levels that reflect "the current realities of commercially viable farms...and that take into account that all new [safety net policies] in the bill will be loss triggered." Improving and protecting crop insurance also is important to the caucus members, who urged the committee to include in its farm bill provisions that allow the rice industry to fully pursue development of "new and effective crop insurance products."
The USA Rice Federation continues to be the leader in providing resources to analyze, identify, and communicate fair and equitable farm safety net policies to the House and Senate.
Contact: Reece Langley, (703) 236-1471
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Agricultural Appropriations Bill Could Face More Farm Act Amendments Next Week
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WASHINGTON -- The House Appropriations Committee yesterday approved by voice vote its fiscal year (FY) 2013 spending proposal for the U.S. Department of Agriculture and the Food and Drug Administration. The bill estimates nearly $141 billion would be needed for mandatory spending next year and provides $19.4 billion for discretionary programs. The committee agreed to modify the 2008 farm act by approving on a voice vote an amendment by Rep. Jeff Flake (R-AZ) to prohibit funding for farm program benefits to individuals or entities with adjusted gross incomes of more than $250,000. The committee also approved other 2008 Farm Act changes by extending in the bill authorization of the Grasslands Reserve Program and Wetlands Reserve Program from FY 2012 through FY 2014.
Within its funding jurisdiction, the committee proposed to fund the Market Access Program and the Foreign Market Development Program at $200 million and $34.5 million, respectively, and nearly $1.15 billion for the Public Law 480 Food for Peace international food-aid program.
The Natural Resources Conservation Service would have slightly more than $812 million in FY 2013 for conservation operations, of which $715.3 million would be available for technical assistance. Several farm bill conservation programs would be capped next year, including the Conservation Stewardship Program, at $1.025 billion; the Environmental Quality Incentives Program, at $1.4 billion; the Wildlife Habitat Incentives Program, at $45 million; and the Wetlands Reserve Program, at 163,250 acres. Nearly $2.5 billion would be provided for agricultural research programs, including the Agricultural Research Service and the National Institute of Food and Agriculture.
The committee would fund the Women, Infants, and Children Program at $6.92 billion and the Supplemental Nutrition Assistance Program (food stamps) at almost $80 billion.
The House is expected to debate the bill next week, at which time other amendments that would change 2008 Farm Act programs could be offered.
Contact: Johnny Broussard, (703) 236-1451
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Canada Welcomed as New Trans-Pacific Partnership Negotiating Partner
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WASHINGTON -- President Obama announced yesterday that the United States and the eight other countries negotiating the Trans-Pacific Partnership (TPP) agreement have extended an invitation to Canada to join the TPP negotiations, pending successful conclusion of domestic procedures. In addition to the United States, the current TPP countries are Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam.
"Inviting Canada to join the TPP negotiations presents a unique opportunity for the United States to build upon this already dynamic trading relationship. Through TPP, we are bringing the relationship with our largest trading partner into the 21st century," said U.S Trade Representative Ron Kirk. "We look forward to continuing consultations with the Congress and domestic stakeholders regarding Canada's entry into the TPP as we move closer to a broad-based, high-standard trade agreement in the Asia-Pacific region."
The United States and Canada already enjoy free trade in rice as a result of the North America Free Trade Agreement. Rice exports of 223,316 metric tons to Canada in 2011 were valued at $161 million.
Contact: Bob Cummings, (703) 236-1473
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| CCC Rough Rice Prices Unchanged |
WASHINGTON -- The Department of Agriculture's Commodity Credit Corporation today announced the following prevailing world market prices of milled and rough rice, adjusted for U.S. milling yields and location, and the resulting marketing loan-gain (MLG) and loan deficiency payment (LDP) rates applicable to the 2011 crop, which became effective today at 7:00 a.m., Eastern Time (ET). Prices are unchanged from the previous announcement.
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World Price
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MLG/LDP Rate
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Milled Value ($/cwt)
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Rough ($/cwt)
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Rough ($/cwt)
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Long-Grain
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18.61
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11.98
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0.00
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Medium-/Short-Grain
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18.39
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12.41
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0.00
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Brokens
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13.17
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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:
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U.S. Milling Yields
Whole/Broken
(lbs/cwt)
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Loan Rate
($/cwt)
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Long-Grain
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55.09/13.13
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6.40
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Medium-/Short-Grain
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62.12/7.50
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6.46
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The next program announcement is scheduled for June 27. |
| CME Group/Closing Rough Rice Futures |
CME Group (Preliminary): Closing Rough Rice Futures for June 20
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Month
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Price
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Net Change
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July 2012
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$14.495
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UNCH
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September 2012
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$14.745
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- $0.005
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November 2012
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$15.005
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- $0.005
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January 2013
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$15.275
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+ $0.015
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March 2013
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$15.525
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+ $0.015
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May 2013
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$15.635
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+ $0.045
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July 2013
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$15.700
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+ $0.085
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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: Stacy Fitzgerald-Redd,
(703) 236-1458,
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Associate Editor: Jamel Jackson,
(703) 236-1444
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Fax (703) 236-2301
2101 Wilson Boulevard, Suite 610
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 © 2012. Please direct comments or questions to the editor or contact name listed for each story. |
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