USDA’s latest season-average price forecast was released yesterday, which included a forecast of Price Loss Coverage (PLC) program payments based on the formula model. The big takeaway is that there won’t be PLC payments in 2023/24 for corn, wheat, or soybeans, based on UDSA’s forecast prices of corn at $5.00/bushel, wheat at $7.63/bushel, and soybeans at $12.98/bushel. The PLC program provides payments to farmers who have base acres of covered commodities. The payments are made on a commodity-by-commodity basis when the annual average national market price falls below the “reference price” specified in the farm bill. The payment rate is the difference between the reference price and the market. The formula i...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.