President Joe Biden is handing out what could be $600 billion in student loan forgiveness just before an election. Critics argue about its fairness, and it will make some voters happy and others unhappy. There are similar contradictions in the allocation of money to agriculture. USDA Secretary Tom Vilsack is figuring out how to allocate $3.1 billion in loan forgiveness to farm loan borrowers, but to skew the assistance to farmers of color. An overt attempt at forgiveness based on skin color was struck down by the courts. The focus is on farm operations that are distressed and at risk, a status that doesn’t depend on skin color. Some of these operations are said to have been at risk before the pandemic, and like the now extended...
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.