Worse to Come A trade analysis commissioned by the Farm Foundation and executed by Purdue University found that the U.S.-Mexico Canada Agreement (USMCA) would increase American agricultural exports by a modest $450 million. By contrast, it determined that duties imposed by Canada and Mexico in response to Section 232 duties are hurting U.S. agriculture by four times as much, $1.8 billion, and global retaliation against American ag exports has cost farmers $7.9 billion. Soybeans are incurring the largest losses, but relative impacts may be greater for other products. With the Trump administration planning additional punitive tariffs against the remaining $267 billion in Chinese exports to the U.S., retaliatory costs on American agriculture...
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.