Read My Lips Former U.S. President George H.W. Bush infamously assured voters that he would not raise taxes by saying, “Read my lips.” Once elected, he raised taxes. Mexican Agriculture Minister Victor Villalobos reassured USDA Secretary Tom Vilsack that his country would not allow the cultivation of GMO corn but would allow imports from the United States. However, the American corn industry might “lee sus labios” (read his lips). His assertion lacks credibility because there is an important rift within the AMLO government. It is the Mexican Health Ministry's sanitary protection agency, COFEPRIS, that is responsible for approving new GMO traits. COFEPRIS has not approved new traits for three years and the bac...
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.