World Perspectives

House Farm Bill Draft Commodity Program Proposals

As we reported Monday, 13 May, the full draft of the House Agriculture Committee’s farm bill was expected to be released today, and it was. Following are some key details on crop programs in the House bill.  First, the Ag Risk Coverage (ARC) payment guarantee is increased to 90 percent, from the existing 85 percent, of benchmark revenue. And the payment rate will be 12.5 percent of the benchmark revenue, increased from the current 10 percent. ARC-CO program payments are triggered when the actual county crop revenue of a covered commodity is less than the ARC-CO guarantee for the crop, i.e. the benchmark revenue, which is the five-year Olympic average market year average price multiplied by the five-year Olympic average county yi...

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Market Commentary: Corn Leads Grains Lower on Fund Selling; Cattle Hit New Highs Again

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Jul 25 Corn closed at $4.5425/bushel, down $0.1475 from yesterday's close.  Jul 25 Wheat closed at $5.3125/bushel, down $0.1175 from yesterday's close.  Jul 25 Soybeans closed at $10.455/bushel, down $0.125 from yesterday's close.  Jul 25 Soymeal closed at $295.5/short ton, down...

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FDA Approves PRRS Resistant Pigs

After years of research and a lengthy regulatory approval process, Genus Pig Improvement Company (PIC) has received clearance from the U.S. Food and Drug Administration (FDA) for the gene edited PRRS-resistant pig (PRP) to be used in the U.S. food supply chain. Genus executives note this is a s...

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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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