The current renewable fuel standard (RFS) went into place in 2008 after the legislation was passed in the 2007 Energy Independence and Security Act (EISA); that bill raised the biofuel obligations from the original 2005 Energy Policy Act’s initial RFS. Of course, COVID in 2020 had a major impact on fuel demand, which also adversely impacted biofuel demand. So far, the monthly average of vehicle miles traveled in 2020 is 6 percent below 2008, and still hasn’t recovered to the level of any month since 2008. To put it in further context, vehicle miles traveled in 2019 were 10 percent higher than in 2008. The drop is significant as the chart below shows. What is also at work, as the RFS faces its final two years of statutory volum...
The corn and soy complex closed higher, with the wheat market mixed, as winter wheat closed up but spring wheat and livestock ended lower. Part of the strength for corn and soybeans may have been a weather premium, as crop planting has started out fast but warm weather has been slow to develop...
Real GDP grew at a 2 percent annual rate in the first quarter of 2026, slightly below the consensus expectation of 2.3 percent but above the 0.5 percent growth in Q4 2025. The GDP number matches the average annualized pace of growth since the peak back in late 2007, right before the Financial P...
Reflect for a moment on what you eat. There is a lot of advice out there in the ether about what you should eat, but really, what do you currently eat and how much? The good people at the USDA have some data for you, to help you answer that question. USDA says that we eat quite a bit of meat. L...
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.