Conservation compliance was a controversial provision in the 2014 Farm Bill and was originally proposed to cover only program crops. When specialty crops were added, however, a number of unforeseen problems surfaced.The 2014 Farm Bill provided a new crop insurance requirement that farmers certify their conservation compliance in order to be eligible for coverage. The deadline is 1 June, and the certification covers Highly Erodible Land Conservation (HELC) and Wetland Conservation (WC). Farming on highly erodible land requires the maintaining of a conservation system that keeps erosion rates at a substantial reduction of soil loss. A conservation or mitigation plan is also required to convert wetlands to agricultural production. While this w...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
What You Need to Know Today: Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate incre...
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.