Ag Alert Mar. 16, 2022

Applications open for 2023 Ag Innovation Challenge

Applications areopen for the2023Farm Bureau Ag Innovation Challenge, an en- trepreneurial competition sponsored by the American FarmBureau Federation in partnershipwith FarmCredit. Now in its ninthyear, this national busi- ness competition showcases U.S. startup companies developing innovative solu- tions to challenges faced by America’s farmers, ranchers and rural communities. Farm Bureau is offering $165,000 in startup funds throughout the course of the competition. The Innovation Challenge will culmi- nate in the top10 semifinalists competing ina livepitchcompetition in front of Farm Bureaumembers, investors and industry representatives at the AFBF Convention in January in San Juan, Puerto Rico. “Innovation is at the heart of every- thing farmers and ranchers do,” AFBF President Zippy Duvall said in a state- ment. “TheAg InnovationChallenge is an outstanding avenue for identifying and supporting startup businesses striving to solve the problems facing rural America. I look forward to seeing the innovative, resourceful and creative solutions that Challenge applicants submit.” Applications remain open through April 29, and the 10 semifinalist teams will be announced Sept. 13. Each of the semifinalist teams will be award-

ed $10,000 and a chance to compete to advance to the final round, where four teams will receive an additional $5,000 each. The final four teams will compete for these awards: • Fa rm Bu reau Ag Innova t i on Challenge Winner, for a total of $50,000. • FarmBureauAg InnovationChallenge Runner-up, for a total of $20,000. • People’s Choice Team selected by public vote, for an additional $5,000. All 10 semifinalist teams compete for this honor. Prior to the live pitch competition, the top 10 semifinalist teams will par- ticipate in pitch training and men- torship from Cornell University’s SC Johnson College of Business faculty, and network with representatives from the Agriculture Department’s Rural Business Investment Companies. Entrepreneurs must be members of a county or parish Farm Bureau with- in their state of residence to qualify as a semifinalist. Applicants who are not Farm Bureau members can visit www. fb.org/about/join to learn about becom- ing a member. Applications must be received by 8:59 p.m. April 29.

Agricultural Market Review

Quotations are the latest available for the week ending March 11, 2022 Year Ago Week Ago Latest Week Livestock Slaughter Steers – 5-Area Average Select & Choice, 1050–1150 lbs., $ per cwt. 114 138-142 140 Hogs – Average hog, 51-52% lean, Iowa-Minn. market, $ per cwt. 87.81 97.71 99.57 Slaughter Lambs – $ per cwt. 125–175 lbs. National weekly live sales 159-168 185-226 188-400 Field crops – basis prompt shipment Barley – U.S. No. 2, $ per cwt. Truck, Stockton-Modesto-Oakdale-Turlock No Quote No Quote No Quote Cotton – ¢ per lb., Middling 1 3/32” Fresno spot market 77.22 90.92 88.75 Corn – U.S. No. 2 yellow $ per cwt. trucked 6.74 9.10 9.18 Alfalfa Hay – $ per ton, quality*, FOB Region 1, Northern Inter-mountain 190-240 (F/G/P) 295 (G/P) 295 (G/P) Region 2, Sacramento Valley No Quote No Quote No Quote Region 3, Northern San Joaquin Valley 250-285 (P/S) No Quote 400-415 (S) Region 4, Central San Joaquin Valley No Quote No Quote No Quote Region 5, Southern California 259 (P) 340 (P) 18.95-19.95 (per bale) Region 6, Southeast Interior 225-240 (S) 275-321 (G/P) 310-355 (P/S) Oat Hay – $ per ton, quality*, FOB Northern California, dairy No Quote No Quote No Quote Oats – U.S. No. 2 white, $ per cwt. Statewide, trucked price No Quote No Quote No Quote

Dry Beans – Grower FOB prices Baby Limas, $ per cwt, (sacked) Large Limas, $ per cwt. (sacked) Blackeye, $ per cwt. (sacked)

No Quote No Quote No Quote

Rice – Milled No. 1 Head, FOB No. Calif. mills Medium grain, $ per cwt. Wheat – U.S. No. 2 or better, winter, $ per cwt. 13% protein, Los Angeles, trucked price

38-41

49-52

11.75 (No. 3) No Quote Provided by the California Farm Bureau as a service to Farm Bureau members. Information supplied by the U.S. Department of Agriculture’s Market News Branch. * ADF=Acid detergent fiber; (S) = Supreme/<27%ADF; (P) = Premium/27-29; (G) = Good/29-32; (F) = Fair/32-35. No Quote