World Perspectives
biofuel

Biofuel Standards and the Farm Bill Move Forward Today

It has been a busy policy day for agriculture with the EPA’s release of the proposed biofuel volumes for 2019 and the Senate taking up the farm bill. The EPA’s proposed Required Volume Obligations (RVOs) under the Renewable Fuel Standard (RFS) boost the overall biofuels volume to 19.88 billion gallons, which would be 10.88 percent of total over-the-road fuel, including gasoline and diesel.

The conventional ethanol volume was maintained at the statutory maximum of 15 billion gallons. The entire 590 million-gallon increase proposed in the overall RVO was provided by the advanced category. Within the overall advanced category, cellulosic fuel was raised by 93 million gallons. The balance of the increase could be met by either un...

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CFTC COT Report Analysis

Friday’s CFTC report showed funds adding to net long position across the major ag futures contracts after a two week break as deteriorating negotiations in the Middle East and the emergence of weather concerns triggered risk-on buying. Funds bought 40,000 contracts (4.7 percent) to their...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 26 Corn closed at $4.6925/bushel, up $0.0575 from yesterday's close.  Jul 26 Wheat closed at $6.2975/bushel, up $0.13 from yesterday's close.  Jul 26 Soybeans closed at $11.92/bushel, up $0.135 from yesterday's close.  Jul 26 Soymeal closed at $327.8/short ton, up $8.7 from y...

feed-grains soy-oilseeds wheat

Market Commentary: Grain Markets’ Two Key Factors Increasingly Bullish

The big picture for commodity markets is that imperfect weather and the lack of a peace deal in the Middle East are mandating that traders keep risk premia in prices. All other developments in ag futures stem in some way from these two factors, though the details of how, exactly, these factors...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds adding to net long position across the major ag futures contracts after a two week break as deteriorating negotiations in the Middle East and the emergence of weather concerns triggered risk-on buying. Funds bought 40,000 contracts (4.7 percent) to their...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 26 Corn closed at $4.6925/bushel, up $0.0575 from yesterday's close.  Jul 26 Wheat closed at $6.2975/bushel, up $0.13 from yesterday's close.  Jul 26 Soybeans closed at $11.92/bushel, up $0.135 from yesterday's close.  Jul 26 Soymeal closed at $327.8/short ton, up $8.7 from y...

feed-grains soy-oilseeds wheat

Market Commentary: Grain Markets’ Two Key Factors Increasingly Bullish

The big picture for commodity markets is that imperfect weather and the lack of a peace deal in the Middle East are mandating that traders keep risk premia in prices. All other developments in ag futures stem in some way from these two factors, though the details of how, exactly, these factors...

Farm Bill on Thursday

The House will vote on the farm bill this Thursday. This afternoon, the House Rules Committee is meeting to consider the rule for the House’s consideration of the farm bill, specifically determining which amendments can and cannot be offered. There are a number of controversial amendments...

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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.

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