As we reported on 12 February, the House Agriculture Committee passed its portion of the budget reconciliation bill to conform with the FY 2022 budget resolution. The measure passed on a party line vote of 24 to 23, and all amendments – save one – failed on a party line vote. That amendment, to provide targeted disaster relief to the derecho wind storm damage in Iowa was stripped from the final bill which passed the full House by a vote of 219–212 this weekend. Specifically, that amendment allowed 2020 disaster relief to be included in the $4 billion pool of funds at the Secretary’s discretion and it passed by one vote with Representative Cindy Axne (D-Iowa) joining a party line Republican vote. One other change to...
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
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.