India Boosts Soybean Minimum Price by 33 Percent The government of India today announced big increases in the minimum price guaranteed to farmers for their 2012 crops. The increases were made to encourage production and protect farmers against increases in input costs.The government increased the guaranteed price for soybeans by 33 percent to 22,000 rupees/MT (about $10.75/bushel). It raised the minimum purchase price for corn by 20 percent to 11,750 rupees/MT (about 5.37/bu) and the minimum price for rice by 20 percent to $224.90/MT. The minimum price for cotton was boosted by 18 percent to 39,000 rupees/MT (about 701.69/MT).The minimum price increases were reportedly opposed by the food ministry, which fears the increases will drive up...
Key Takeaways: President Trump announced $8 billion in additional agricultural assistance through the Harvest Fuel Relief Program, as USDA projects farm fuel and oil expenses will increase 28.8 percent in 2026. The package follows $12 billion in earlier relief, while government farm payments w...
Key Takeaways: A student group from the University of Chicago is protesting to bring back onion futures trading. Trading in onion futures was banned in 1958 following a spectacular bout of market manipulation that resulted in a corner of the physical market. The ban on onion futures led t...
Beef packer margins deteriorated to $141/head last week, down $55 from the prior week as fed cattle prices strengthened while the Choice cutout remained nearly unchanged. The cutout held near $373/cwt while fed cattle prices climbed $4/cwt to $224/cwt, narrowing processor profits. Despite the d...
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.