Much like a colonoscopy, every few years it is time for another farm bill, and the process of creating one is about as much fun. Passed in 2014, the current iteration is the 17th since the first farm bill was passed in 1933 during the Great Depression as part of President Franklin Roosevelt’s New Deal. It expires in 2018, and the agriculture committees of the House and Senate began work on the next one several months ago. House Ag Committee Chairman Michael Conaway (R-TX) has indicated he hopes to have a bill put together by February 2018. The 2014 Farm Bill contains 12 titles, which cover commodities, conservation, trade, nutrition, credit, rural development, research and extension, forestry, horticulture, energy, and crop insurance...
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...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
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.