In a surprise move yesterday, Senator Joe Manchin (D-West Virginia) signed off on a budget reconciliation bill with a number of tax provisions and more than $400 billion in spending. Manchin had opposed the level of spending and taxes given the inflationary climate and sluggish economic performance. He also opposed the anti-coal and natural gas provisions. This bill, while boosting green energy, approves a natural gas pipeline through West Virginia. The package has been dubbed the Inflation Reduction Act of 2022. It is a scaled down version of last year’s $3.5 trillion Build Back Better package. About 10 percent of the spending is agriculture – or at least rural - related. About half of that is for “climate smart ag...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
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.