The Inflation Reduction Act (IRA), also officially known as the Budget Reconciliation bill and unofficially as the mini-Build Back Better bill, has been passed by Congress and signed by President Biden. It was the subject of several eleventh-hour changes, but now the dust has settled and there is more transparency into what is included in the legislation. The bill includes $38.244 billion in agricultural programs and forestry. Here is a rundown of the provisions: The biodiesel tax credit (BTC) is extended through 2024 for biodiesel and renewable diesel. That is estimated as a tax expenditure of $5.571 billion. A new sustainable aviation fuel (SAF) credit is created through 2024. It is a credit of $1.25 per gallon, plus one cent for each...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
From WPI Consulting
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.