Trade Deficit Focus The U.S. trade deficit for goods and services declined slightly in June for the second month in a row but the overall annual number is headed toward more than $1 trillion for a third year in a row. China remains the largest source for deficit goods trade despite a shift toward Mexico and Vietnam as prime suppliers. The U.S. had a rare agricultural trade deficit of $3 billion in 2022 and is headed toward an even larger deficit in 2023. Trade policy has not been a large topic thus far in the 2024 presidential race, though China is, and the typical rant is to revoke China’s permanent Normal Trade Relations status. Republicans trying to out-hawk one another and President Biden on China will be the common theme,...
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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.