As we’ve previously reported, EPA’s 2021 annual biofuel required volume obligations (RVO) rule has been at the Office of Management and Budget since 13 May undergoing review. That rule is likely to be issued soon, and after that the anticipated 20.17 billion gallon RIN equivalent volume rule, of which 15 billion is ethanol. EPA is now indicating that it is likely that a supplemental RVO will come later in the year. The supplement is expected to be another 250 million gallons, to be matched by a second supplemental rule in 2022 to make up for the 500 million gallons of conventional ethanol from 2016 which the courts ruled EPA had waived incorrectly. That would make the effective ethanol RVO 15.25 billion gallons for...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
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.