Congress is back in session after the 4th of July Independence Day holiday break. But there are only 12 days on the legislative calendar for the month; there will be a break next week for the Republican nominating convention, and then Congress adjourns for the August recess on 2 August. Legislators will be back for September but adjourn again in early October before the November elections. This doesn’t bode well for completing any legislation, including the farm bill. Note that on 30 September, the current farm bill extension expires, as does the current government funding. Currently no appropriations for FY 2025 (which starts on 1 October) have been approved by Congress. The House has passed 4 of 12 appropriations bills,...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.