As clients will recall, the House farm bill was sunk in May on a vote of 198-213. No Democrats voted for it due to the work requirement reforms pertaining to the Supplemental Nutrition Assistance Program (SNAP). Further, 30 Republicans voted against the bill. They were primarily from the conservative Freedom Caucus, which made the tactical move to leverage the farm bill to secure a vote on immigration reform. As of yesterday, a path forward for the House farm bill started to emerge. House Agriculture Committee Chairman Michael Conaway (R-Texas) is working a whip count on the Republican side, meeting with the 30 members who opposed the farm bill as well as the seven who missed the vote and whose position on the legislation is unknown. The g...
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
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.