The news and political talk shows have been abuzz about whether the economy is in a recession, moreover, it has become political, with some Republican politicians and conservative commentators, almost giddy that the GDP contracted two quarters in a row, and some Democrat politicians and liberal commentators arguing that the economy is not in a recession – necessarily now. First, the two quarters of negative GDP is a rule of thumb; when it happens there is almost always a recession. But it is not, as we’ve heard on TV, the “technical” definition of a recession. In 2001, there were three consecutive quarters of negative GDP before the recession was declared. The actual technical definition is maintained by the Bureau...
What You Need to Know Today: The latest EIA Short-Term Energy Outlook forecast 2027 U.S. WTI crude oil at $65.39/brl, up about $5 from the prior forecast. President Trump late Monday claimed the U.S. has swept the entire Strait of Hormuz (SOH) for sea mines. Iran’s security council said...
Key Takeaways: Soymeal with 44 percent protein generally contains more soybean hulls and fiber, while 48 percent soymeal is more extensively dehulled, resulting in higher protein concentration and lower fiber. CBOT soymeal futures were lowered from a 48 percent to 47.5 percent protein specific...
The trade deficit contracted slightly to $73.3 billion in June, a break from the volatility that has underscored international trade over the past year. Despite the small change, there was plenty of activity behind the scenes: imports fell $7.3 billion, led by crude oil, reflecting cheaper crud...
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.