The American Petroleum Institute (API) is worried that the administration is considering E85 as a way to increase the proposed 2014 Renewable Fuel Standards (RFS) for ethanol and accused it of playing politics in an attempt to influence the Iowa Senate race. Cellulosic Michael Knotek, deputy undersecretary of the U.S. Department of Energy, said in a recent speech that the U.S. needs 1,000 cellulosic ethanol plants for the future. Knotek noted that domestic oil production is increasing, but said "...the fact is that oil is tied to a global market. Problems anywhere in the world cause our economy to respond to price spikes and shortages. ... Biofuels will break that paradigm." Based on that statement, we can only guess that means the Depart...
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.