World Perspectives
biofuel

Eight State Plan for E15 Equivalent to Adding One Large Ethanol Mill

In April, the Biden Administration’s EPA announced that it would provide a temporary waiver for year-round E15 (see WPI’s article about the immediate market reaction here, and a breakdown of the actual impact here). In the end, the waiver adds about 107 days of more demand for E15 in 2022. A more permanent waiver is likely coming to at least eight states, however. A bipartisan group of governors from Iowa, Illinois, Kansas, Minnesota, Nebraska, North Dakota, South Dakota, and Wisconsin has petitioned EPA for a year-round E15 waiver for their states if it can be demonstrated that such a move would improve air quality. Thus, the states have submitted a study to that effect and are asking that the 1 pound per square inch (PSI) Rei...

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Mar 23 Corn closed at $6.7975/bushel, down $0.04 from yesterday's close.  Mar 23 Wheat closed at $7.6125/bushel, up $0.0875 from yesterday's close.  Mar 23 Soybeans closed at $15.38/bushel, up $0.0275 from yesterday's close.  Mar 23 Soymeal closed at $484.2/short ton, down $4.5 f...

New Trade Agenda; Walk the Meat Talk

New Trade Agenda Tomorrow will present the Senate Agriculture Committee’s first hearing in preparation for writing a new Farm Bill and the first two topics are trade, and horticulture. It will be the first hearing for newly confirmed USDA Under Secretary for Trade Alexis Taylor. The line...

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Market Commentary: Soymeal, Live Cattle Post New Contract Highs; Grains End Firmer

The CBOT was stronger to start the day with corn and wheat finding mild, continued strength from last week’s rallies. The winterkill threats to the HRW crop mean that KCBT wheat is the upside leader in wheat futures with funds slowly shifting to the long side of the market. Corn ticked hi...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 23 Corn closed at $6.7975/bushel, down $0.04 from yesterday's close.  Mar 23 Wheat closed at $7.6125/bushel, up $0.0875 from yesterday's close.  Mar 23 Soybeans closed at $15.38/bushel, up $0.0275 from yesterday's close.  Mar 23 Soymeal closed at $484.2/short ton, down $4.5 f...

New Trade Agenda; Walk the Meat Talk

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feed-grains soy-oilseeds wheat

Market Commentary: Soymeal, Live Cattle Post New Contract Highs; Grains End Firmer

The CBOT was stronger to start the day with corn and wheat finding mild, continued strength from last week’s rallies. The winterkill threats to the HRW crop mean that KCBT wheat is the upside leader in wheat futures with funds slowly shifting to the long side of the market. Corn ticked hi...

Farm Bill Could Change PLC Reference Prices

Topics for consideration in the farm bill are starting to take shape. According to reports from Capitol Hill, one likely change in the 2023 farm bill will be the reference prices under the Price Loss Coverage (PLC) program, which are likely to get updated to reflect current markets. The PLC pro...

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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.

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