The bottom line is that the refinery capacity in the Gulf is now less dependent on imported oil than ever before.As we reported yesterday, the talking point about domestic energy independence and weaning the U.S. economy from foreign oil is still alive and well in the energy and biofuels debate. As Wesley Clark, co-chairman of Growth Energy, said at the Senate Committee on Environment & Public Works hearing last week, the Renewable Fuel Standard (RFS) is "one of the key components that have helped lower our dependence on foreign oil by 33 percent" and that the U.S. needs to keep it at high levels because "... oil is a global market. We don't control the price."However, we do enjoy a big spread and not because of biofuels. The U.S. Depar...
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
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.