We’ve covered the up-and-down, back-and-forth process of the budget reconciliation bill, and by extension the bipartisan infrastructure package that passed the Senate but is being held up in the House. Yesterday, President Biden announced that Democrats have an agreement on the package, with spending cut down from $3.4 trillion to $1.75 trillion. It is still not clear, however, that this will move forward as it needs support from two key votes in the Senate: Senators Joe Manchin (D-West Virginia) and Kyrsten Sinema (D-Arizona). It is getting closer as many of the provisions that were dropped were at their insistence. For more background see Biden Agenda on Capitol Hill a Game of Political Whack-A-Mole from Tuesday. ...
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
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.