Leading the opposition was the UK, which the Department of Transport there indicates is preparing to offer legislative reforms to its own Renewable Fuel Transport Obligation (RFTO).In 2008, the EU adopted the Renewable Energy Directive, which (among other things) requires that renewable energy be a 20 percent share of the total EU energy mix. Part of that share is a 10 percent minimum target for renewable energy consumed by the transportation sector in all member states. This could come from biofuel or renewable electricity in the case of public transport and electric vehicles. By the end of this year and two-thirds of the way toward its full implementation, the directive will be subject to a review. According to the director for renewables...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.