The very first farm bill, the Agricultural Adjustment Act, was passed in 1933 as an early part of President Franklin Roosevelt’s New Deal approach in dealing with the Great Depression. The intent was to try to protect farmers from very low crop prices that accentuated the impact of the depression on a rural America quite different from what exists today. That first farm bill came at a time when there were more than 6.5 million, mostly small, farms in the U.S. In addition, over half of the U.S. population lived in rural areas. Now, approximately 85 years later, the number of U.S. farms barely exceeds 2 million with less than a quarter of the population considered rural. However, today’s average-sized farm is about three times lar...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.