World Perspectives

Farm Fuel Cost Outlook

Over the past four weeks diesel prices have started to rally moving toward harvest season. The question remains whether this is temporary or a longer-term trend.  From a regional perspective, Midwest distillate inventories for the week of 14 July were the highest recorded for the region since February of 2022. Inventories in the Midwest usually build rapidly in the summer, although that didn’t occur in 2022. Last year, low inventories in the Midwest persisted through the first half of the summer and into the harvest season, when distillate stocks typically draw an average of about 8 million barrels out of inventory from September through November.   The 2023 spring maintenance slowdown was heavy in the Midwest drawi...

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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