World Perspectives

Budget Baseline and the Farm Bill

Today the Congressional Budget Office (CBO) released its 10-year (2019-2028) baseline projection of the federal budget. The document is usually issued in January, but it was published late this year because the CBO wanted to incorporate the impacts of the following:

Tax Cuts and Jobs Act (enacted 22 December 2017) Bipartisan Budget Act of 2018 (enacted 9 February 2018)  Consolidated Appropriations Act (enacted 23 March 2018) 

The CBO typically issues these  projections three times per year: January, March and August. They forecast the costs of existing federal programs, assuming that such policies stay in place for the duration of the baseline’s timeline. When new legislation such as the farm bill is proposed, t...

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Summary of Futures

Mar 26 Corn closed at $4.3125/bushel, up $0.0375 from yesterday's close.  Mar 26 Wheat closed at $5.525/bushel, up $0.1525 from yesterday's close.  Mar 26 Soybeans closed at $11.3725/bushel, up $0.1325 from yesterday's close.  Mar 26 Soymeal closed at $307.9/short ton, up $4.9 fr...

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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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