According to the U.S. Census Bureau, the trade deficit in goods and services grew slightly to $68.2 billion in December 2020. U.S. exports actually increased, but imports grew faster. The bigger issue is that both exports and imports grew, which means economic activity grew. The U.S. economy and the global economy are starting to return to normal. While two-way trade was down 1.7 percent in January in dollar terms, it was up 1.1 percent over December. Two-way trade is the real measure of economic growth on the trade front. On the topic of imports, the total value of imports in January stood at 5.7 percent greater than pre-COVID February 2020, and 3.2 percent more than January 2020. That’s a sign that the U.S. economy is growing and t...
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.