Congress is back for a lame duck session which has one must pass agenda item – a full FY 2021 appropriations funding bill, and a high-profile item - a potential next round of COVID-19 relief. The end result could be a combination of the two. For the COVID relief bill, the House, under the leadership of Speaker Nancy Pelosi (D-California), is holding out for a bigger, broader bill. The Senate, under the leadership of Majority Leader Mitch McConnell (R-Kentucky) is holding out for a smaller, more targeted bill. Right now, McConnell has the advantage. The Democrat majority in the House will shrink when the new Congress convenes, and while the Senate majority will be determined by two Senate run-off elections in Georgia, the...
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.