World Perspectives

President’s Budget Submission and the Farm Bill

Yesterday was a big step toward the farm bill process via the Administration’s submission of the President’s FY 2024 budget proposal, at least procedurally, if not substantively. The President’s budget submission is required under the Budget Control Act, but it is not acted on directly by Congress, rather it starts off the annual budget making process, which is a requisite to crafting a farm bill. The President’s budget plan is $6.9 trillion over 10 years, with $2 trillion in new taxes. The spending increase for next year (FY 2024), is $500 billion. For the major farm bill programs, however, spending is reduced based mostly on structural items. USDA’s total mandatory spending (all farm programs, crop insurance...

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Summary of Futures

May 23 Corn closed at $6.4725/bushel, down $0.01 from yesterday's close.  May 23 Wheat closed at $6.9975/bushel, up $0.0175 from yesterday's close.  May 23 Soybeans closed at $14.6775/bushel, up $0.255 from yesterday's close.  May 23 Soymeal closed at $457.9/short ton, up $11.9 f...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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