USDA's just-released 10-year baseline projections made a bigger splash than normal because of the recently passed farm bill.USDA released its 10-year baseline projections and as Bob Kohlmeyer noted yesterday, it is a tall order to capture all the trends and potential economic shocks that impact those trends 10 years into the future. However, this report has made a bigger splash than normal because of the recently passed farm bill. In particular, the price projections for this year as well as the nearby years are much more bearish than what the Congressional Budget Office (CBO) used in its scoring of the 2014 Farm Bill, raising questions about the farm bill's cost.The CBO used its May 2013 baseline to score the bill, and the projection was o...
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...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
From WPI Consulting
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