The EPA is floating a trial balloon of maintaining the 2020 RVOs for 2021 and 2022. In April, a group of Senators urged EPA to add 500 million gallons to the ethanol RVO to amend for the 2016 court case that ruled the EPA improperly waived that amount, and to “increase biodiesel, advanced, and cellulosic volumes.” The proposed rule is typically published sometime in the May-June-July timeframe. It is then open for comments, with the final rule published by the statutory deadline of 30 November and it goes into effect the following year. Last May, EPA sent proposed required volume obligations (RVOs) for 2021 to the Office of Management and Budget (OMB) for review and sign-off before they were published for comment. &n...
What You Need to Know Today: Wheat prices surged after Ukrainian strikes on Russian vessels and infrastructure disrupted grain shipments, halting traffic through the Sea of Azov, Kerch Strait, and Black Sea. The July WASDE report offered a modestly supportive outlook for corn, wheat, and soybe...
The trade deficit in goods and services came in at $77.6 billion in May, slightly smaller than the consensus estimate of $78.4 billion. After a few months of relative stability, the trade deficit widened in May. The increase in the deficit for the month was due to both a rise in imports, which...
Every June combines begin their annual sweep across the winter wheat fields of Texas, Oklahoma, and Kansas. At the same time, USDA releases its Acreage and Crop Progress reports, providing the first comprehensive look at the size and condition of the crop. Most years the reports simply confirm...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.