The Trump administration has reacted to the disruption of Hurricanes Harvey and Irma with a temporary waiver of a statute long opposed by the ag sector and denial of another one sought for increased ethanol use.According to the U.S. Energy Information Administration (EIA), weekly refinery utilization in the Gulf region fell from 96 percent to 63 percent during the week of Hurricane Harvey while remaining virtually unchanged in other parts of the country. This is the biggest drop since 2008 during Hurricanes Gustav and Ike. Harvey’s impact on the sector was previously discussed (see Ag Perspectives, 29 August), including the refinery shutdowns in Texas.The Gulf Coast is home to about half of all refinery capacity in the U.S. with Texas accou...
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.