World Perspectives

House Farm Bill Markup Mid-May, Floor Action TBD

House Agriculture Committee Chairman Frank Lucas (R-Oklahoma) has announced his intention to convene a markup for the 2013 Farm Bill on or about 15 May. The Chairman's mark has not yet been crafted, but it is expected that it will be much the same structure as last year's bill, which means it will need to find additional savings. As we noted on 5 March, the Congressional Budget Office (CBO) re-scored the House farm bill with updated assumptions. This resulted in less savings -- almost half of which comes in the nutrition title because of changes in assumptions about the Supplemental Nutrition Assistance Program (SNAP).Lucas will face pressure from his fellow House Republicans to cut more from SNAP, which makes the bill more difficult to p...

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Summary of Futures

May 26 Corn closed at $4.4725/bushel, down $0.0175 from yesterday's close.  May 26 Wheat closed at $5.8025/bushel, down $0.1775 from yesterday's close.  May 26 Soybeans closed at $11.62/bushel, up $0.0375 from yesterday's close.  May 26 Soymeal closed at $314.1/short ton, up $2.3...

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Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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