USDA announced today a new farm aid package to help offset “unjustified retaliatory tariffs” from the trade disputes with China, the EU, and Turkey. It noted in a press release that this includes $16 billion in total payments, an amount roughly equivalent to half of Wyoming’s GDP. Of that, $14.5 billion will be used to compensate farmers, $1.4 billion will go to commodity purchase programs, and $100 million will be allocated to foreign market development programs. The new Market Facilitation Program (MFP) will distribute the $14.5 billion in direct payments to producers of corn, soybeans, sorghum, cotton, wheat and other crops, including crambe and safflower. Dairy, and hog producers as well as tree nut producers will als...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.