A record 1.2 million electric vehicles (EVs) were sold in the U.S. in 2023. EVs hit a record 8.1 percent market share in the fourth quarter. However, also growing fast and having larger sales are hybrid, using a combination of battery and typically fossil fuels. For agricultural producers, rule changes and a streak of very cold winter weather means the demand for biofuels is not going away anytime soon. Some experts predict EV sales will slow slightly in 2024 as government incentives for consumer uptake are made less attractive, but also because the early adopters have adopted, and the remaining share are watching EV’s struggling with greatly reduced range and long charging times during winter. Meanwhile, some policymakers are pressi...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.