In his address to Congress this week, President Biden laid out two major initiatives, the American Families Plan and the American Jobs Plan. According to a White House fact sheet, the costs of those two items is $1.8 trillion and $2.5 trillion respectively. They would come on top of $5.984 trillion in COVID relief packages already passed by Congress. The sum total, were the Biden plans to pass, would be $10.284 trillion. Just to put some context on this, according to Purdue University, a bushel of corn has about 90,000 kernels of corn in it. If corn kernels were dollars, a bushel of corn would be $90,000 (which makes $7 per bushel corn look bearish), 10.284 trillion corn kernels would be the equivalent of 114.275 billion bushel...
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.