NIGERIA SPENT N428 BILLION ON WHEAT, SORGHUM IMPORTS IN 2015- CBN GOVERNOR

Kano — The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefeile, Tuesday disclosed that over N428 billion was expended on the importation of wheat and sorghum in 2015 alone.

Godwin said the huge bills on the importation of these products informed the decision of the apex bank to boost and sustain the local production of agricultural products such as rice, wheat, cassava fish and poultry, among others.

Speaking at the inauguration of sorghum milling plant at Northern Nigeria Flour Mills Company held in Kano, the CBN governor, who was represented the Deputy Governor, Corporate Service Directorate, Alhaji Suleiman Barau, disclosed that 513 projects across the country had been financed by Commercial Agricultural Credit Scheme (CACS), saying that a total of 604 projects had equally been financed under Real Sector Refinancing Project.

He said these interventions were the outcome of the collaboration between the bank and the Presidential Task Force on Food Security, aimed at boosting agricultural production, employment and wealth creation.

According to him, CBN would continue to support any venture that would save the nation foreign exchange in which the Northern Nigerian Flour Mill Plc had demonstrated a strong commitment to pursue.

In her remarks,the Minister of State, Industry, Trade and Investment, Hajia Aisha Abubakar, said the inauguration of the milling plant was unique in the sense that it would serve as a real boost in sourcing raw materials locally and would inadvertently have positive impacts on local farmers /out growers.

Abubakar also said the inauguration of the plant directly aligned with the vision of the administration’s Economic Recovery and Growth Plan (ERGP) designed to promote and sustain an inclusive growth in the implementation of Nigeria Industrial Revolution Plan(NIRP).

She explained that the plan also focused on areas in which Nigeria has comparative advantage that would guarantee competiveness in the global market and increase manufacturing contribution to GDP in the next five years.

Abubakar said the plan, which was presently being implemented, would strategically unlock bottlenecks militating against the growth and development of the industrial sector adding that government was also reducing the encumbrances that were affecting industrial development.

The Chairman of Flour Mills of Nigerian (FMN), Mr. John Coumantaros, said in the coming planting season, FMN planned to engaged a network of out growers and contract farming arrangement to source over 30,000 metric tones of sorghum wile 10,000 farmers would also be engaged by the company.

The commissioned a sorghum milling plant estimated at the cost of N2 billion with the aim sourcing its raw materials locally. BY AGRONEWS.

BANK OF INDUSTRY COTTAGE LOAN, HOW TO APPLY.

About the fund

Nigeria is richly endowed with abundant agricultural products available in every state of the federation.

However, limited capacity for processing and preservation, results in huge losses and wastages.

In a bid to tackle this problem, BOI has established a Cottage Agro-Processors Fund to support the establishment of cottage agro processing plants that will produce food products and raw materials for industries within and outside the Staple Crop Processing Zones (SCPZs) across Nigeria.

The Fund will be accessed by Limited Liability Companies, Enterprises and Cooperative Societies engaged in the processing of agricultural products either into finished food products or raw materials for industry or for the export market

CAP Fund –Products/ Sectors supported

CAP Fund- Products/ sectors supported
S/N	Agric Products	Derivatives
1	Cassava	Cassava Flour, Chips, Starch, Garri, Fufu, Ethanol
2	Oil Palm	Palm Oil, Palm Kernel Oil, Palm Kernel Cake.
3	Rice Paddy	Rice, Flour.
4	Groundnut	Groundnut Oil, Groundnut Cake
5	Yam	Yam Flour, Chips
6	Maize	Corn Flour, Starch, Livestock Feed.
7	Sorghum	Sorghum Flour, Syrup, Sorghum Brewers Grain.
8	Aquaculture	Smoked Fish, Fish Fillet.
9	Livestock	Leather Products, Poultry, Milk, Yoghurt, Butter.
10	Cocoa	Cake, Butter, Powder.
11	Shea nut	Shea Butter For Cosmestics, Confectionary And Pharmaceuticals
12	Plaintain	Flour, Chips
13	Cashew	Cashew Nuts
14	Tomato	Tomato Paste, Tomato Ketchup

Cottage Agro-Processors (CAP) Fund

• 9% Interest rate

• N10 million single obligor limit

• 5 years tenor (Inclusive of 6 months moratorium)

• 1% processing fee (payment at approval)

Parties to the fund

• Bank of Industry

• Partnering Bank

• The customer

• Accredited Equipment Suppliers and Valuers

Bank of Industry

• Provides the long term loan

• Manages the fund

• Equipment procured in BOIs name and revert to the customer upon liquidation

Partnering Bank

• Provides working capital

• Tripartite agreement with BOI and customer to sweep repayments to BOI

The customer

• 10% equity contribution

• Select equipment from BOI accredited suppliers

• 3-year equipment maintenance agreement with the supplier

• Factory constructed for new project and modified for existing project Sign the Tripartite Agreement authorizing the Partnering Bank to sweep loan repayments into BOI’s account based on the Loan Amortization Schedule

Accredited supplier

• Supply, installation and commissioning of the equipment

• 2-year warranty for the equipment

• 3-years equipment maintenance agreement with the customer

• Provide standard factory layout to accommodate the equipment to be supplied

• Provide initial training for the customer on the operation of the equipment

• If supplier is a fabricator, it must have Standards Organization of Nigeria (SON) certificate

Security arrangement

• Debenture over assets of the company or lien over the equipment

• Deposit of 10% equity into designated BOI account

• Personal guarantee of promoters

• Two (2) external guarantors to be backed by notarized net-worth statement acceptable to BOI

• Referral Letter from a recognized Traditional Ruler / Local Government Chairman or LG Secretary/ Imam / Priest

• Domiciliation of sales proceeds with the selected/accredited SME friendly banks. BY AGRONEWS.

EXPORT LOAN, HOW TO ACCESS NEXIM ESF FACILITY.

NEXIM’S PRODUCTS & SERVICES – NEW EXPORT INTERVENTION SCHEMES

As part of efforts to arrest the declining trend in export credits and boost investments in the non-oil export sector, the CBN recently approved two funding schemes and appointed NEXIM as the Fund Manager:

• N500 Billion Export Stimulation Facility (ESF) – Newly Introduced
• Tenor of up to 10 years for project finance facility inclusive of moratorium of 2 years.
• Working Capital / Stocking facility shall be for a maximum tenor of one year with the option of roll-over not exceeding twice
• Maximum interest rate of 7.5% per annum for facilities with a tenor of up to three (3) and (9%) per annum for facilities with tenor of over three (3) years.
• N50 Billion Export Rediscounting & Refinancing Facility (RRF) – Enhancement of existing N1.225 Billion RRF being operated by NEXIM from inception in 1991
  • It is a rediscounting & refinancing window available to Commercial Banks for a maximum tenure of 360 days.
  • Export bills / transactions shall be discounted / refinanced at an “all-in” rate of a maximum of 6% per annum with the Bank allowed a maximum spread of 3%.

ELIGIBILITY CRITERIA

The Bank’s facilities are available to any registered, creditworthy export Company/Cooperative Society, incorporated in Nigeria, registered with the Nigerian Export Promotion Council (NEPC).

REQUIRED DOCUMENTATION

1. Application Form
2. Certified True Copy of Certificate of Incorporation, Certified True copies of CO2 & CO7; and Memorandum & Articles of Association;
3. Current three year tax clearance;
4. Three (3) year Audited Accounts and most recent management accounts, where applicable
5. Feasibility Study/Business Plan including Projected Cash flow, P&L and
6. Board Resolution Authorizing Company to borrow and Letter of Authorization for NEXIM to seek information on Company;
7. Registration with NEPC;
8. Proforma Invoice; Export Contract or MOU and Evidence of past export(s) if any;
9. Valuation Report of the proposed security; BY AGRONEWS.

FG, NDDC MOVE TO REVITALISE ABADONED RICE MEALS.

Ado Ekiti — The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has disclosed that the present administration under President Muhammadu Buhari will stop importation of rice in 2017.

Explaining the reason behind the policy, Ogbeh hinted that the country has enough internal production that can sustain home consumption and meet foreign exchange earnings that can guarantee diversification of the economy.

In order to further boost internal production of the commodity and enhance the country’s comparative advantages in rice and yam production, Ogbeh stated that the federal government will sign a memoranda of understanding with Afe Babalola University, Ado Ekiti (ABUAD) and Ekiti State Government in the two critical sectors.

He unveiled his ministry’s intention to supply ABUAD with 20 tonnes of rice seedlings in the next planting season to boost rice production internally.

The minister said these in Ado Ekiti at the weekend during a visit to ABUAD’s farm and Ekiti State government.

Ogbeh said the current economic recession being experienced under Buhari’s government has helped the federal government to think outside the box and had succeeded in bringing the deserved revolution to agriculture sector .

The minister assured Nigerians that the skyrocketing prices of foods in the country will soon crash, saying specifically that that of rice would happen within the next two weeks.

“Of recent, prices of diesel increased from N130 per litre to about N280 which makes the cost of a tractor to move up to N14 million from N7 million. The interest rate on every loan given to farmers also went up, so the aggregate of all these factors caused increase in the prices of food items.

“We are concerned with the plights of Nigerians. We knew that many are hungry but we are working round it because it doesn’t speak well of us that we are in government and people are hungry.

“But the major challenge is that Nigerians produced children more than other Africa nations put together and youths are not interested in farming and the question now is that, who will feed all these children?

“Nigeria has about 150million population and if these people can’t be fed with food, then they will be fed with anarchy and chaos,” Ogbeh warned.

The founder of ABUAD, Chief Afe Babalola (SAN), praised Buhari’s administration for bringing revolution to the country’s agriculture sector that had been neglected by successive governments, describing the current economic recession as a blessing in disguise.

“To support the federal government initiative, this university for the past three years has been holding the annual Afe Babalola Agriculture Expo (ABAFEX), where we give N1million to the best farmer in Ekiti and N250,000 to the best in 16 local governments.

“This year, we intend to hold rice summit with intention to expose Ekiti potential in the production of the commodity,” Babalola said. BY AGRONEWS.

FG TO PARTNER OSUN FOR MASSIVE FOOD PRODUCTION.

The Federal Government has expressed readiness to partner with Osun State Government in the ongoing process of massive food production as a means of getting the nation out of the current economic recession.

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh who stated this when he paid a courtesy call on the Osun State Governor, Ogbeni Rauf Aregbesola in Osogbo disclosed that Nigeria will by December this year stop the importation of rice  due to massive rice production embarked upon by government.

Ogbeh said it is unfortunate that Nigeria is still spending billions of dollars on food importation, thereby calling for maximum collaboration and partnership between and among the various authorities to revamp agriculture.

The minister said the Federal Ministry of Agriculture has been restructured to meet the nation’s needs on food production so as to bring an end to all forms of food importation.

He said the purpose of the visit is to cement the existing relationship between the Osun State Government and the Federal Ministry of Agriculture on the need to achieve a better agricultural productivity.

Ogbeh attributed the current economic recession to the nation’s failure to harness her huge potential in agriculture.

Ogheh said Nigeria has gotten to a stage where her numerous God-given resources must be appropriately harnessed, saying the era of sole reliance on crude oil as a means of sustenance has gone.

The Minister said his ministry has meeting with relevant stakeholders to revamp the agriculture sector, a move which he said would go a long way in rescuing the nation out of poverty and unemployment.

He said the ministry has engaged in an extraordinary initiative to rid off the sector of her current challenges, saying no stone will be left unturned to bail the country out of her present predicament.

According to him, it is high time Nigerians, irrespective of socio-economic status, developed interests in whatever that can be use as alternative to crude oil whose era is almost disappearing. BY AGRONEWS.

FCT MINISTER THREATENS TO REVOKE ALLOCATIONS TO FISH FARM ALLOTEES.

The FCT Minister, Malam Muhammad Bello has threatened to revoke allocations to Fish Farm allottees who fail to move to the farms within two months from today.

Bello, who said this when he visited the farms sited at Bwari Area Council on Friday in Abuja, noted that the allottees would forfeit the allocations at the expiration of the two months.

According to him, government cannot just allocate the farms to people who refused to make use of the facility.

He frowned at a situation whereby only four people out of 100 who got allocations were presently doing the business, a development he described as unacceptable.

The minister said if the allotees failed to occupy the farms by the end of the two months period given to them, the allocation would be revoked.

 He also directed the allotees to make N5,000 available every month to pay for security and maintenance of the farms, adding that if  the 100 allottees paid, it would amount to N500, 000 which should be sufficient to take care of the farms.

Bello also frowned at the level of farm houses being built within the estate while the fish ponds were not developed.

“The allotees should suspend building of such structures till they complete the ponds.

“Based on what is happening here and complains by the allotees that there is no water and road within the farms, I have suspended the construction of the roads from the budget.’’

The Bwari Fish Farm Estate is a government intervention that commenced in 2012 to encourage families to go into fish farming leveraging on the water resources available in the FCT as well as the enormous market.

This was based on the realisation that there was a huge gap between the demand for fish and supply of fish.

“So, I came in here as part of my general policy drive in ensuring that all good projects that are meant to be of immense benefit to the residents of the territory started by the previous administration are completed.’’

Bello assured that based on what he had seen and interaction with the members of staff, the project would go a long way in boosting fish production in the territory.

He also advised beneficiaries of the N-Power scheme posted to the farms to acquire training on fish farming to reach out to the secondary schools and communities around as most schools have Young Farmers Club to impact knowledge acquired. (NAN). BY AGRONEWS.

ARMY WORM: KANO FARMERS OUT OF DANGER.

Kano wing of All Farmers Association of Nigeria (AFAN) has declared that farmers in the state are out of danger of army worm attack on farms.

State AFAN chairman Farouk Rabi’u Mudi disclosed this while addressing newsmen on the recent attack of army worm in the state.

He said the association was able to surmount the pestilence through collaboration with the state ministry of agriculture and other agricultural development bodies through constant sensitizations of farmers on method of addressing the worm attack on their plantations.

“When the worms came, they attacked a lot of plantations in Kano especially maize. However, with the last years’ experience on tomato we were able to educate the farmers on method through which such attacks will be controlled. I am happy to tell you tjhat presently Kano farmers are out of danger of the army worms attack. I must state here that, without support from the state government and many other development partners in agriculture, the situation would have been different,” said the state AFAN chairman.

Similarly, Malam Abdu Usman a farmer in the state said, it is early for farmers to celebrate as traces of the army worms are still visible in many farms. Malan Usman had attributed this to the economic constrains the farmers faces presently. BY AGRONEWS.

FAMINE LOOMS AS NEW DISEASE THREATEN FARM PRODUCE.

The Coordinating Director of the Nigerian Agricultural and Quarantine Service (NAQS), Vincent Isegwu, has stressed the need to be on the watch out for viral diseases that are capable of destroying farm produce during the harvest season.

The diseases, according to him, are Cassava brown streak, maize nitant necrosis and coconut yellowing disease.

Speaking in an exclusive interview with LEADERSHIP Sunday in Abuja, he said “There are some diseases which are lurking in the corner which the country must be very aware of. They are so devastating; they are viral, which means they cannot be treated, and we need to prepare and face them squarely”.

“One is for Cassava and it is called Cassava brown streak disease. It can cause 100% rot of cassava tubers on the ground. Another is maize nitant necrosis which also causes complete devastation and does not even allow plants to mature. It withers, dries up and becomes unproductive and the coconut yellowing disease causes the foliage (leaves) to be dead so that all you see is the stem standing like a telecoms mast or electric poles

“And you can imagine anything of such devastation, 100% affecting our cassava which is a major staple in Nigeria. Maize is also our staple; we roast maize, cook maize, make ‘tuwo’ and even ‘akamu’. So, we cannot afford to be careless about these diseases coming into the country”.

Isegwu said the cassava brown streak disease is already in Rwanda, Uganda, Tanzania and Congo Republic and is moving from Southern to Central Africa.

His words: “So, we need to be careful so we don’t allow any cassava cuttings into the country, not from those countries and not from anywhere.

“Because they could come from such countries, enter another country before coming into Nigeria and you say no, it didn’t come from those Southern African countries but from the Eastern flank, not knowing that it transits through one of their West African neighbours or North African neighbours before coming down. So, we must not allow any vegetative cutting for cassava to enter the country, except we are very sure of the source and there is a pre-arrangement that such cottons have come for research or whateve”r.

The NAQS DG assured that presently, all the border stations are aware of this and are mounting surveillance for them. “But what we are doing now is to put a proposal to government of the cost implication for the monitoring to avert it.  I need specialist training to be able to identify it or else when you see it, you will think it is a cassava mosaic disease which is not the case”, he added. BY AGRONEWS.

FARM MARKETS TRADE BELOW DAILY HIGHS, REMAIN STRONG TUESDAY.

DES MOINES, Iowa -- On Tuesday, the CME Group’s farm markets come off their daily highs and remain well supported by crop-weather concerns.

At midsession, the September corn futures are 6¾¢ higher at $3.81¾, and December futures are 7½¢ higher at $3.95½.

August soybean futures are 10½¢ higher at $9.95; November soybean futures are 10½¢ higher at $10.08.
September wheat futures are 2¼¢ higher at $5.08.

December soy meal futures are $2.80 per short ton higher at $332.30. December soy oil futures are 0.34¢ higher at 33.78¢ per pound.

In the outside markets, the Brent crude oil market is $0.28 per barrel higher, the U.S. dollar is lower, and the Dow Jones Industrials are 88 points lower.

Another heat wave will roll through the Midwest starting today with temperatures expected to near triple digits, as reported Tuesday.

Much of eastern Nebraska and Kansas, Iowa, Missouri, and Illinois are under excessive heat watches, warnings, or advisories starting today, according to the National Weather Service.

“Hot and humid temperatures are expected to build this week and linger through Saturday across the region,” the NWS said in a report on Tuesday morning. “Air temperatures will reach near the triple-digit mark by midweek, and heat indices may reach or exceed 105˚F. to 110˚F. each afternoon Wednesday through Saturday.”

Some cloud cover or spotty showers may provide some relief in limited areas, but it’s going to be extremely hot in the heart of the Corn Belt for the next few days, according to the agency.
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Monday’s Grain Market Review

On Monday, the CME Group continues to see little movement, aside from the soybean complex gaining slight strength.

At the close, the September corn futures finished 1¼¢ lower at $3.75, while December futures finished 1½¢ lower at $3.88.

August soybean futures closed 4¢ lower at $9.85; November soybean futures closed 4¢ lower at $9.97.

September wheat futures closed 4¾¢ lower at $5.06.

December soy meal futures settled $1.90 per short ton lower at $321.80. December soy oil futures closed 0.24¢ lower at 33.44¢ per pound.

In the outside markets, the Brent crude oil market is 51¢ per barrel lower, the U.S. dollar is lower, and the Dow Jones Industrials are 3 points higher.

Jason Roose, U.S. Commodities grain analyst, says that as the crop conditions go, so go the markets.
“The grains are trading lower today on a mixed weather forecast. With the majority of the crop going through pollination the next 10 days, Monday's USDA Weekly Crop Conditions Report will be watched closely after three weeks of lower ratings,” Roose says.

  BY MIKE MCGGINNIS.

U.S FARMERS MAINTAIN OPTIMISM FOR A.G ECONOMY, BAROMETER REPORTS.

The Purdue/CME Group’s June survey of 400 U.S. agricultural producers indicates producers feel their farm operations’ financial positions are stronger now than a year ago.

This shift in producers’ perspective is one reason the Ag Economy Barometer’s June reading of 131 was virtually unchanged from a month earlier. The Ag Economy Barometer, a producer-based sentiment index, has held steady for three months in a row and remains well above levels recorded prior to November 2016.

The shift in producers’ perspectives regarding their financial positions is part of a long-term trend, according to the Barometer’s results released last week. In June 2016, just 3% of survey respondents felt their operations were financially better off than a year earlier. That percentage increased to 10% last fall, then declined somewhat in early winter before rebounding to its current reading of 13%, the highest reading since we began surveying producers in October 2015.

A similar pattern emerges when examining the percentage of producers indicating their farms’ financial positions declined compared with 12 months prior. The percentage of farmers indicating that their financial positions were worse than a year earlier was 46% in June 2017, little changed from May’s 44%, but well below the 67% recorded as recently as February.

The shift in perspective compared with last summer is even more noticeable since 81% of respondents in August 2016 said their farm was financially worse off than the year before.
The long-term shift in producers’ attitudes about their operations’ financial conditions is likely reflective of several factors.

First, revenues on many farms increased as a result of record, or near-record crop yields in 2016. The revenue improvement was further supported by the fact that corn and soybean futures prices strengthened from late summer through early winter.

Second, production costs moderated for most crop operations compared with the prior year. Fertilizer prices in particular were weaker than a year earlier, helping to improve margins.

Third, as the long-term adjustment to tighter crop operating margins continues, farmland rental rates continue to adjust downward, helping to brighten the financial picture for many farm operations.

Looking Ahead to the Rest of 2017

In addition to the monthly questions measuring sentiment, the barometer survey also asks producers about the key drivers affecting their farms and the broad farm economy.

On the June survey, producers were asked to compare current expectations about their farm financial performance in 2017 to their initial budgets or plans.

Most producers (60%) indicated that current expectations are “about the same” as their initial expectations. However, for farm operations whose expectations changed, there was a turn toward “worse than” planned (28% was more common than “better than” budgeted (12%).

The number of respondents indicating they expect their 2017 financial performance will be worse than originally planned could be reflective of the difficulties some farms have experienced this spring with respect to planting and poor growing conditions, especially in the eastern Corn Belt. BY DAVID WIDMAR.

WITH HARVEST IN PROGRESS , KANSAS FARMERS REPORT ON SNOW- DAMAGED WHEAT.

Despite the late blizzard that caused considerable concern about the Kansas winter wheat crop, farmers report that, overall, the crop looks better than expected.

Marc Ramsey, who farms near Scott City in western Kansas, received 14 inches of snow on April 30 that knocked down trees and wheat fields, as shown in the photo below. Surprisingly, he said that the snow may have helped more than it hurt.

“The moisture was badly needed and apparently the stems weren’t damaged badly enough across acreage to make a huge impact,” he says. “Some wheat is lodged, but it seemed to fill decently through the heat.”Ramsey is just getting started on wheat harvest, but he says test weights have been in the 58 to 60 range. “Yields were above average, but protein is in the 9 to 10 range, so nothing special there,” he adds. “Accounts from area farmers are saying you either have quantity or quality, but more often than not you don’t get both.”

Eric Sperber, manager of Cornerstone Ag, LLC in Colby about an hour north of Ramsey’s farm, heard similar comments from the farmers in his area.

“Most people were pleasantly surprised at the lack of impact from the snow,” he said during a report with the Kansas Wheat Commission. “One farmer had an early planted field that looked like a mess after the snow. It stood back up, but fell over again at grainfill. He wasn’t expecting much, but it ended up yielding 60 bushels per acre and over 60 pounds per bushel.”

An hour northeast from Colby in Norton, Kansas, Chris Tanner also got hit with the late-April snowstorm. “When the snow was laying on the wheat, I thought it was dead and done for,” said Tanner in the Kansas Wheat harvest report. “After that there was a little bit of a dry spell that wasn’t good for it, but it’s been pretty resilient. They say wheat has nine lives, but this crop is on its tenth or eleventh.”

He adds that condition has varied with test weights from 58 to 62 pounds per bushel and yields from 20 up to 80 bushels per acre. However, he says that variation is mainly based on planting date and wheat variety.

While hail and rain have slowed down winter wheat harvest in western Kansas, across the state winter wheat harvest is progressing almost right on pace with the five-year average with 73% complete compared to 72%, according to this week’s USDA Crop Progress Report. As far as the condition goes, the USDA reports that 47% is in good to excellent condition, 31% fair, 14% poor, and 8% very poor. This is on par with the rest of the country’s winter wheat crop – 48% is in good to excellent condition – but it is trailing last year’s crop when 62% was rated as good or excellent at this time.

Not surprising given the condition ratings, the USDA is predicting a lower yielding wheat crop compared with last year. According to the USDA’s Crop Production report, winter wheat yields for Kansas are forecast at 44 bushels per acre, down from 57 bushels per acre last year.  BY JESSIE SCOTT

MISSOURI, ARKANSAS BAN DICAMBA USE.

WASHINGTON, July 7, 2017 - Continued complaints over crop damage due to drift have led to Missouri and Arkansas temporarily banning the sale and use of dicamba products.

“Missouri Director of Agriculture Chris Chinn has issued a Stop Sale, Use or Removal Order on all products labeled for agricultural use that contain dicamba in Missouri,” the state’s ag department said Friday, citing more than 130 drift complaints this year alleging thousands of acres of damage.

The order says the state “has probable cause to believe dicamba-containing pesticide products are being used in violation” of state regulations requiring adherence to the EPA label or state pesticide laws.

The state’s order applies to all formulations of the herbicide, including Monsanto’s Xtendimax, DuPont’s FeXapan, and BASF’s Engenia. In Arkansas, the ban applies to Engenia, the only formulation the state approved for over-the-top use this growing season.
          
The Missouri order says that “older dicamba products are not labeled by (EPA) for in-crop post-emergent use in dicamba-tolerant cotton and soybean crops. EPA-approved labels for Xtendimax, Engenia and FeXapan warn all users to not apply the pesticide during a temperature inversion and to not allow the pesticide to drift onto desirable broadleaf vegetation because severe injury or destruction could result.”

“With only a small window left for application in this growing season, I understand the critical need to resolve this issue,” Chinn said. “I look forward to working with our farmers, researchers and industry partners to find an immediate solution.”

In Arkansas, the executive committee of the state’s Legislative Council allowed the proposed ban to move forward following a recommendation by the state’s Plant Board, which was then approved by Gov. Asa Hutchinson. The council is composed of a panel of state legislators.

The Associated Press reported that the executive committee took no action on the proposed ban, allowing it go into effect “unless a majority of the Legislative Council or its chairmen hold a meeting Monday to review the panel's decision.” Earlier in the week, the council approved an increase in fines for “egregious” dicamba misuse to $25,000.

Dicamba misuse complaints in that state totalled 596 in 23 counties as of today. BY AGRI-PULSE COMMUNICATIONS.

WHEAT FUTURES JUMPS OVERNIGHT, INVESTORS BULLISH ON SOFT RED FIRST TIME IN 2YEARS.

1. Wheat Futures Jump as Weekend Plains Rains Disappointing

Wheat prices rose in overnight trading after some wet weather expected to offer some relief to parched spring crops in North Dakota was underwhelming.

Only small amounts of rain – about 0.25 inch in only a few counties in the state – fell on Sunday. Some forecasts had been calling for more widespread rains over the weekend.
The entire northern Plains where most spring wheat is grown in the U.S. has been extremely dry the past month, according to the National Weather Service. That’s left many investors, analysts and farmers wondering if there’s going to be much of a spring wheat crop this year.

Wheat for September delivery rose 13 ½ cents to $5.48 ½ a bushel overnight on the Chicago Board of Trade. Kansas City futures jumped 11 ¼ cents to $5.54 ¼ a bushel.

Soybeans also jumped overnight on concerns not only about the northern Plains bean crop but also the canola and palm crops globally. Canola and palm are competing oilseeds for soybeans.
Soybeans for November delivery added 19 ½ cents to $10.35 a bushel overnight. Soymeal rose $7.90 to $345.90 a short ton and soy oil futures gained 0.37 cent to 33.69 cents a pound.

Corn rose on the weather woes in the northern Plains as December futures added 8 ¼ cents to $4.13 a bushel overnight.

2. Speculative Investors Now Bullish Soft-Red Winter, Increase Net-Longs in Hard-Red Wheat

Money managers were bullish soft-red winter wheat for the first time since July 2015 and investors were net-long on hard-red winter futures by the most in at least six years as dry weather continues to plague the northern Plains.

Net-longs, or bets on higher prices, totaled 23,997 soft-red futures contracts in the week that ended on July 3, according to the Commodity Futures Trading Commission, the first time investors were bullish on the grain in two years.

Speculative investors were net-long by 54,574 hard-red winter wheat contracts last week, the biggest such position since at least 2011, CFTC data show.

Investors have been getting more bullish on wheat as dry weather in the northern Plains has likely led to spring-crop losses. About two-thirds of North Dakota is in some sort of drought while the rest is abnormally dry, according to the U.S. Drought Monitor.
Money managers were also less bearish on corn and soybeans.

Net-shorts, or bets on lower prices, in corn fell to 37,607 contracts, the lowest level in three weeks. In soybeans, net-short positions fell to 82,630 contracts, the lowest such position since the week ended on May 23, according to the CFTC.

The weekly commitment of traders report from the Commodity Futures Trading Commission shows trader positions in futures markets.

The report provides positions held by commercial traders, or those using futures to hedge their physical assets; noncommercial traders, or money managers (also called large speculators); and nonreportables, or small speculators.

A net-long position indicates more traders are betting on higher prices, while a net-short position means more are betting futures will decline.

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3. Red Flag, Thunderstorm Warnings Issued For Montana; Heat Indexes to Reach 107 in Midwest
Much of Montana likely will see an odd mix of hot and dry weather and potentially severe thunderstorms this afternoon.

A red flag warning indicating that it’s extremely dry and wildfires are imminent has been issued for much of central Montana until 11 p.m. today due to a combination of low humidity, gusty winds and lightning from “dry thunderstorms,” according to the National Weather Service.

Further east, some scattered thunderstorms are likely that could bring rainfall, hail and damaging winds, the NWS said in a morning report.

Temperatures this week in most of the northern Plains will near 100 degrees, the agency said.
In the Midwest, a heat advisory has been issued for an area encompassing much of southeastern Nebraska, southwestern Iowa, northeastern Kansas and northwestern Missouri.

Temperatures this week will be in the mid-90s with heat indexes as high as 107 degrees through Wednesday, according to the NWS. BY TONY DREIBUS.

THE 4TH OF JULY BY THE NUMBERS.

Americans love food, and eating is their favorite way to celebrate our nation’s Independence Day, according to an annual survey conducted by the National Retail Federation (NRF). The most popular way to celebrate the Fourth of July is to cook out, barbecue, or host a picnic. The NRF says 65.5% of Americans will do just that in 2017 and will spend $7.1 billion on food items for the holiday.

Americans will eat 150 million hot dogs on July 4th alone, according to the National Hot Dog and Sausage Council (NHDSC). Interestingly enough, 61% of Americans prefer beef hot dogs, 12% like pork hot dogs, and 7% prefer turkey, the NHDSC says.

According to an informal poll that we conducted on Twitter, 52% of our followers will be grilling beef over the holiday, 10% will be grilling up pork, 5% will grill chicken, and 33% will throw a combination of the three on the grill to celebrate.

To give you an idea of just how much meat is grilled between Memorial Day and Labor Day, in 2016 Americans grilled $6,816 billion worth of beef, $4,284 billion worth of pork, and $3,882 billion worth of chicken during that period.

Traveling Americans

This year, a whopping 44.2 million Americans will travel 50 miles or more to celebrate Independence Day. According to AAA, that’s 1.25 million more people than last year and the most people ever to travel over the holiday.

Most, 37.5 million to be exact, of the traveling Americans will drive to their destinations, and farmers can only hope they’ll be filling up their tanks with ethanol-enhanced fuel.

Fun Facts for the BBQ

In 2016, the amount of American flags imported to the U.S. were valued at $5.4 million and most came from China, according to the U.S. Census Bureau. The U.S. also exported enough American flags in 2016 to add up to a value of $27.8 million. Most of the flags, $26.1 million worth, were exported to Mexico.

Last year, the U.S. imported $296.2 million worth of fireworks from China.
Back in 2012, the 172 U.S. wholesalers sold $482.6 million worth of fireworks and firecrackers.
A particularly happy Independence Day to those celebrating in patriotic towns and counties like Liberty County, Texas; Patriot Town, Indiana; and Union County, Ohio! BY ANNA MCCONNELL.

WILL JULY CROP WEATHER CONTINUE TO BE A HEAD- SCRATCHER.

As weather goes, so likely will prices.

This year’s weather has either been close to ideal or it has made for a stressful spring and start to summer. A very challenging spring (due to copious rains in parts of the Midwest) forced many farmers to replant corn and in some instances abandon acreage or switch to other crops. “Rain makes grain” is the old saying, and as July 4 approaches, it’s hard to complain if you’re lucky enough to have had a few rain events. For many, however, rain this year is something they could do without, at least for a while. If you planted early and your crop looks good, rain is welcome, in particular the western corn-producing states. For about a third of all corn producers, too much rain this year has created many challenges. Late planting and poor field conditions for spraying crops are two concerns, as more rains this past week suggest nitrogen leaching and shallow roots, both which could suggest lower yield.

The most recent crop ratings figures released by the USDA this past Monday indicated this year’s corn crop is rated as 67% good to excellent, down from last year’s 75%. With lower acreage (4 million less than last year) as indicated on the March 31 Acreage report and a higher amount of corn rated in the poor to very poor category compared with a year ago, it’s been a head-scratcher why corn prices lately have been on the defensive, losing more than 25¢. The “rain makes grain” mentality, along with increased farmer selling of old crop, are the likely two variables pressuring prices. As the end of the month approaches and cash contracts come due, farmers are determining whether to move inventory or roll contracts to another month. A limited amount of time to empty bins between now and harvest has created an environment where producers are likely deciding to get rid of old crop.

Despite recent downward price pressure, it’s too early in the growing season to be overly pessimistic on price. The chances that corn prices will move substantially lower, with what could be a less-than-ideal crop, are probably not good. End users will likely view the recent pulldown in corn prices as an opportunity to lock in longer-term needs. As weather goes, so likely will prices, and lately weather has not been ideal. The chances of price recovery are good. The critical months for crop growth and maturity are July and August. Attitude, as well as perceptions in the marketplace, could change in a hurry over the next 60 days.

If you have questions or comments, contact Top Farmer at 1-800-TOPFARM, ext. 129.
Futures trading is not for everyone. The risk of loss in trading is substantial. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Past performance is not necessarily indicative of future results. BY BRYAN DOHERTY.