The Senate confirmed Michael Regan to be Administrator of the U.S. EPA this week by a vote of 66-34. Since 2017, Regan has been Secretary of the North Carolina Department of Environmental Quality and previously he worked at EPA in the air office. That experience will come in handy as he has to get the RFS back on track after COVID, delays from the Trump Administration, and the thorny issue of small refinery waivers. In Trump’s final days, EPA proposed to extend the compliance deadlines for refineries to meet their 2019 blending obligations until 30 November 2021 (when the final statutorily prescribed volume obligations are to be issued). The final compliance date for 2020 blending obligations is extended until 21 January 2022...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.