World Perspectives

Six Weeks to Register for 2025 45Z Tax Credit, Still No Final Rules However

Yesterday, the Treasury Department released its Initial Guidance on registration for the Clean Fuel Production tax credit known as Section 45Z. To qualify for the credit, biofuel producers must pre-register; registration is required prior to 1 January 2025 when the credit goes into effect. According to the Treasury Department, biofuel producer taxpayers registering after 15 July 2024, cannot be guaranteed they will receive the required confirmation letter on time. As of yet, however, the other compliance requirements have not been released, making the registration process a bit of the proverbial “pig in a poke.” As clients will recall, on 30 April, WPI reported on the guidance from the Treasury Department for the Section 40B su...

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.2825/bushel, down $0.0225 from yesterday's close.  Mar 26 Wheat closed at $5.225/bushel, down $0.07 from yesterday's close.  Mar 26 Soybeans closed at $10.6175/bushel, down $0.06 from yesterday's close.  Mar 26 Soymeal closed at $294.3/short ton, down $5...

feed-grains soy-oilseeds wheat

Market Commentary: Grains Give Back Gains on Technical Weakness; Hogs Hit New Highs

Trade in ag commodity futures saw two diverging trends to start the week. Weakness quickly developed in grains and oilseeds amid profit taking, weak technicals, and Export Inspections data that were about as exciting as the last half of the Broncos–Patriots game. Conversely, cattle future...

Free Trade Style; 30,000 Feet; Technology Evolution; Taxing Food

Free Trade Style Brussels realizes the mistake it made when it included agriculture in its free trade negotiations with the Mercosur countries. Proponents bragged that it would remove most tariffs on EU–Latin American food trade and concurrently protect Europe’s geographic indicator...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.2825/bushel, down $0.0225 from yesterday's close.  Mar 26 Wheat closed at $5.225/bushel, down $0.07 from yesterday's close.  Mar 26 Soybeans closed at $10.6175/bushel, down $0.06 from yesterday's close.  Mar 26 Soymeal closed at $294.3/short ton, down $5...

feed-grains soy-oilseeds wheat

Market Commentary: Grains Give Back Gains on Technical Weakness; Hogs Hit New Highs

Trade in ag commodity futures saw two diverging trends to start the week. Weakness quickly developed in grains and oilseeds amid profit taking, weak technicals, and Export Inspections data that were about as exciting as the last half of the Broncos–Patriots game. Conversely, cattle future...

Free Trade Style; 30,000 Feet; Technology Evolution; Taxing Food

Free Trade Style Brussels realizes the mistake it made when it included agriculture in its free trade negotiations with the Mercosur countries. Proponents bragged that it would remove most tariffs on EU–Latin American food trade and concurrently protect Europe’s geographic indicator...

biofuel energy

E15 Dropped from Appropriations Bill

In a years-long, ongoing policy battle, a provision to secure E15 was dropped at the last minute from the appropriations bill. On paper, the path forward looks clear, as the oil refiners’ association is now onboard with E15; however, there are still many other smaller mechanisms in the le...

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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.

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