Although the payment estimates from the president’s budget and the Congressional Budget Office (CBO) for FY 2016 are relatively close and within standard estimating variances, the difference grows to $1.933 billion for next year.With the submission of the president’s FY 2017 budget, Congress will start its own budget-writing process. No changes to the major farm support programs created in the 2014 Farm Bill (the Agricultural Risk Coverage (ARC) and the Price Loss Coverage (PLC) programs) were included in the president’s budget. There is also no reason to expect congressionally-pursued changes to either program, per the House Agriculture Committee’s “budget views and estimates” letter filed with the House Agriculture Committee (see Ag Persp...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.