News/Markets/Policy Updates: Dec. 13, 2024
— Canada is considering implementing export taxes on major commodities, including uranium, oil, and potash, as a potential response to incoming U.S. President Donald Trump’s threat to impose broad tariffs. This move by the Canadian government is part of a strategic plan to counter possible trade tensions with the United States. The Canadian government views export taxes as a last resort measure. Before resorting to this option, Canada is more likely to implement: Implementing Canadian export taxes could significantly affect various U.S. industries: The proposed export taxes could have far-reaching consequences: The Canadian government aims to avoid a full-scale trade war with the U.S. while preparing contingency plans. Additional announcements on border security are expected to address U.S. concerns about migration and fentanyl trafficking. Of note: A Bloomberg item notes some observers have said they expect Trump will exempt commodities from his threat to place 25% levies on goods from Mexico and Canada, and focus instead on using tariffs against their manufacturing industries. In Canada’s case, that includes the auto manufacturing, aerospace and aluminum sectors, which are centered in Ontario and Quebec, where about 60% of Canadians live. — Trump backs dockworkers in automation dispute at U.S. ports. President-elect Donald Trump voiced his support for the International Longshoremen’s Association (ILA), representing dockworkers at East and Gulf Coast ports, as they negotiate a new labor contract amid tensions over automation. The ILA opposes the increased use of automated equipment, which they argue reduces jobs, while port employers insist it is essential for safety and efficiency. Writing on Truth Social, Trump criticized automation’s impact on workers, stating, “The amount of money saved is nowhere near the distress, hurt, and harm it causes for American Workers.” The union temporarily suspended a strike in October after securing wage increases, with negotiations continuing until Jan. 15. A prolonged strike could disrupt ports vital to the U.S. economy, just days before Trump’s second term begins. Labor leaders are closely watching Trump’s involvement, which could signal how supportive he might be of unions during his presidency, despite past skepticism from some union groups. The ILA has previously endorsed Democrats but refrained from backing Vice President Kamala Harris, citing a positive rapport between its president and Trump. Ocean carriers in October, under pressure from administration officials, agreed to a 62% pay increase over six years to end a three-day strike that brought some of the nation’s busiest ports to a halt. The carriers agreed to that tentative deal with the belief that the union would make concessions on automation in a wider agreement. That belief now is being challenged. Key Trump quote: “These foreign companies should hire our incredible American Workers, instead of laying them off,” Trump said on ocean carriers using automation at U.S. ports. — U.S. ag sector engages Trump team on tariffs and immigration. The U.S. agriculture sector has opened discussions with Donald Trump’s transition team, aiming to address critical issues like tariffs and immigration amid the president-elect’s policy pledges. According to Bloomberg, ag industry groups, including the National Grain and Feed Association and the International Fresh Produce Association, are advocating for expanded visa programs for temporary workers and urging China to adhere to the $50 billion annual crop purchase commitment under the Phase One trade deal. Other pressing concerns include border inspection delays with Mexico and compliance with the EU’s Deforestation Regulation. — China’s bond yields spark “Japanification” concerns. China’s falling bond yields are drawing comparisons to Japan’s deflationary struggles following its 1990s real estate crash. After a Politburo pledge to aggressive monetary easing, the yield on China’s 10-year bonds hit a historic low of 1.77%, with speculation they could fall to 0%. However, investor skepticism remains as Chinese stocks dropped sharply amid vague details on fiscal stimulus plans. Of note: China stocks fell after the country’s annual Central Economic Work Conference provided few details about coming fiscal stimulus. Hong Kong’s Hang Seng and the Shanghai Composite each slipped around 2%. — Trump’s economic advisers are discussing the pros and cons of doubling the state and local tax deduction (SALT), a change that would please tax filers residing in high-tax New York, New Jersey and California. But raising the deduction would lower federal revenues. The push: raise from $10,000 to $20,000 the tax write-off. Getting to $20,000 “would solve the problem for middle-class families in blue states,” said Trump economic transition adviser Stephen Moore. Of note: At the Big Board on Thursday, Trump reiterated his pledge to cut the corporate tax rate to 15% from 21%, at least for companies that make goods in the United States. “We’re going to give tremendous incentive like no other country has,” Trump said. — Sen. Blumenthal urges action on mysterious drone sightings. Sen. Richard Blumenthal (D-Conn.) called for decisive action against mysterious drones recently spotted over the mid-Atlantic, including his home state of Connecticut and in New Jersey. In remarks on Capitol Hill, Blumenthal stated the drones, which have caused public concern, should be “shot down, if necessary,” especially if they pose a risk near airports or military bases. The senator criticized the lack of answers from federal authorities, describing the situation as “absolutely unacceptable” and urged intelligence agencies to investigate thoroughly. While White House officials, including John Kirby, noted that many sightings involve legally operated manned aircraft and lack evidence of malicious intent, Blumenthal emphasized the need for vigilance, citing potential security risks. He also warned against using Chinese-made drones, highlighting their surveillance capabilities as a threat to national security. The ongoing investigation by DHS and the FBI is in its early stages. Meanwhile, Blumenthal is pressing for a congressional briefing to address rising public fears over the drones. — North Dakota greenlights CO2 storage for Summit pipeline. North Dakota’s Industrial Commission unanimously approved a plan allowing Summit Carbon Solutions to store millions of tons of carbon dioxide underground, despite objections from some landowners. The project, utilizing a pipeline network across five states, will gather carbon emissions from ethanol plants and inject them into geological formations west of Bismarck. While 92% of landowners in the 90,000-acre sequestration area are participating voluntarily, legal challenges question the constitutionality of rules forcing minority compliance. Summit plans to store 18 million tons of carbon annually, leveraging federal tax credits and promising economic benefits for farmers and ethanol producers. Critics, citing safety concerns from past incidents, question the technology’s readiness. Summit asserts rigorous studies back their plan, which could enhance ethanol’s market value while reducing emissions. The company still awaits permits in South Dakota and Nebraska. Meanwhile, the Minnesota Public Utilities Commission unanimously approved a permit for Summit Carbon Solutions to construct a 28-mile segment of a planned 2,500-mile carbon capture pipeline across the Midwest. The pipeline, running from an ethanol plant in Fergus Falls to the North Dakota border, aims to transport pressurized carbon dioxide for permanent underground storage in North Dakota, helping curb greenhouse gas emissions. Construction could begin by 2026, pending right-of-way agreements with seven landowners. Of note: While Summit plans to rely on federal tax credits to finance the project, concerns remain about its long-term viability if those incentives are revoked by Congress. — President-elect Donald Trump’s USDA secretary nominee Brooke Rollins joined him during a Thursday trip to the New York Stock Exchange. She was spotted chatting with Trump’s HHS secretary nominee Robert F. Kennedy Jr. Trump wooed Wall Street with pledges of corporate tax cuts while ringing the bell at the New York Stock Exchange. Others on hand for the bell-ringing were several of Trump’s picks to lead crucial government regulators, including Scott Bessent (Treasury), Doug Burgum (Interior), Kelly Loeffler (Small Business Administration) and Howard Lutnick (Commerce). Among industry officials on hand to celebrate Trump at the Big Board, as well as his again being named Time magazine’s person of the year, were Bill Ackman of Pershing Square, Brian Cornell of Target, Jane Fraser of Citigroup, Michael Miebach of Mastercard, David Solomon of Goldman Sachs and Hans Vestberg of Verizon. They joined Jeff Sprecher, the CEO of Intercontinental Exchange, which owns the N.Y.S.E., and Lynn Martin, the exchange’s president. Marc Benioff, the CEO of Salesforce — and owner of Time — publicly congratulated Trump for being named person of the year. “This marks a time of great promise for our nation. We look forward to working together to advance American success and prosperity for everyone,” Benioff wrote on X, using the hashtags “#Leadership” and “#FutureOfAmerica.” — Trump administration eyes banking deregulation and agency overhaul. As Wall Street anticipates reduced regulation under President-elect Donald Trump, his transition team is reportedly exploring significant changes to banking oversight. Discussions include consolidating, restructuring, or even dismantling major regulatory agencies, though any drastic steps would require congressional approval — a challenging prospect. Proposals: Trump advisers, including officials from the newly formed Department of Government Efficiency (DOGE), have floated the idea of abolishing the Federal Deposit Insurance Corporation (FDIC), according to sources cited by the Wall Street Journal. This would involve transferring deposit insurance responsibilities to the Treasury Department. The transition team also discussed consolidating the FDIC, the Office of the Comptroller of the Currency (OCC), and aspects of the Federal Reserve into a single regulatory body. Elon Musk, co-leader of the DOGE, has been vocal about eliminating the Consumer Financial Protection Bureau (CFPB), criticizing its recent move to cap overdraft fees. Such plans align with broader efforts to streamline banking oversight and reduce federal involvement in the financial sector. Deregulation optimism on Wall Street. JPMorgan CEO Jamie Dimon recently expressed optimism for a lighter regulatory environment under the incoming administration, citing the burdens of years of stringent oversight. Analysts believe these expectations are driving bank stock rallies, mirroring trends seen after the 2016 election. SA analyst MacroGirl and Investing Group Leader Jonathan Weber both predict a similar trajectory of deregulation, which could further boost the financial sector’s performance in the coming years. |
| MARKET FOCUS |
— Equities today: Asian and European stock indexes were mixed but mostly lower overnight. U.S. Dow opened up around 60 points. In Asia, Japan -1%. Hong Kong -2.1%. China -2%. India +1%. In Europe, at midday, London +0.1%. Paris +0.2%. Frankfurt +0.3%.
U.S. equities yesterday: All three major indices ended lower with only the Dow able to trade at all in positive territory and that was early in the trading session. The Dow ended down 234.44 points, 0.53%, at 43,914.12. The Nasdaq fell 132.05 points, 0.66%, at 19,902.84. The S&P 500 lost 32.94 points, 0.54%, at 6,051.25.
— Ag markets today: Corn and wheat futures pivoted around changed in light overnight trade, while soybeans favored the downside. As of 7:30 a.m. ET, corn futures were trading fractionally lower, soybeans were 3 to 4 cents lower, and wheat was mostly 1 to 2 cents higher. The U.S. dollar index was anchored near unchanged, and front-month crude oil futures were around 50 cents higher.
Wholesale beef prices firmed $4.01 for Choice to $315.24 and $2.37 for Select to $280.48 on Thursday. The price strength ended three days of declines for Choice beef. Even with yesterday’s wholesale beef strength, packer margins dropped further into the red this week as cash prices posted strong gains.
The CME lean hog index is up 30 cents to $83.91 as of Dec. 11, the second straight daily gain. December lean hog futures, which expire today and will be settled against the index early next week, finished Thursday 36 cents below that level. The pork cutout fell 56 cents on Thursday to $92.31.
— Agriculture markets yesterday:
• Corn: March corn futures slid 4 3/4 cents to $4.43 1/2 and settled nearer session lows.
• Soy complex: January soybeans rose 1/4 cent to $9.95 3/4 and nearer the daily high. January soybean meal fell $1.60 to $289.50 and near mid-range. January soybean oil rose 23 points to 42.67 cents and nearer the session high.
• Wheat: March SRW futures fell 4 3/4 cents to $5.58 1/2 and settled nearer the session low. March HRW futures sank 4 1/2 cents to $5.62 3/4 and nearer the session low.
• Cotton: March cotton futures slipped 6 points to 70.09 cents/pound Thursday after a day of trading mostly at slightly higher levels.
• Cattle: February live cattle fell 52 1/2 cents to $190.85, near the session low after hitting an eight-month high early on. January feeder cattle fell 70 cents to $258.35 and near the session low.
• Hogs: Futures traded narrowly, with the most-active February inching up 10 points to $84.475 and expiring December rising 5 points to $83.55.
— Trump trade adviser warns China against currency manipulation. Peter Navarro, President-elect Donald Trump’s incoming senior counselor for trade and manufacturing, told Reuters the new administration would not look “fondly” on any attempt by China to manipulate its currency. Navarro added, “The history of China as a currency manipulator is well known.” On Wednesday, Reuters reported China’s top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher U.S. trade tariffs. Navarro said Trump could choose to escalate tariffs even further if China weakens its currency, rather than waiting for the biannual Treasury report into whether foreign trade partners are manipulating their currencies.
Market perspectives:
— Outside markets: The U.S. dollar index was lower, with the euro and yen stronger against the greenback. The yield on the 10-year U.S. Treasury note rose, trading around 4.35%, with a mixed-to-positive tone in global government bond yields. Crude oil futures were higher, with U.S. crude higher at around $70.40 per barrel and Brent lower at around $73.80 per barrel. Gold and silver futures were down, with gold around $2,692 per troy ounce and silver around $31.35 per troy ounce.
— Natural gas futures ended Thursday at their highest price in more than a year after Energy Information Administration data showed that stockpiles were drawn down more last week than traders expected.
— India rice stocks hit record high, fuels export speculation. India’s rice stocks surged to a record 44.1 million metric tons (MMT) as of Dec. 1, far exceeding the government target of 7.6 MMT, according to the Food Corporation of India. Wheat stocks also surpassed targets, reaching 23.3 MMT against the goal of 13.8 MMT. This historic rice surplus has fueled speculation of increased exports, which were previously restricted due to supply concerns. While export limits on most rice varieties have been lifted, restrictions on broken rice remain. India’s rice production reached 120 MMT from its summer season, accounting for 85% of the country’s total output. The Food Corporation of India plans to procure 48.5 MMT from this year’s harvest, up from 46.3 MMT from the 2023-24 crop.
— 9.7 million: Metric tons of Canadian and U.S. grain carried through the Great Lakes/St. Lawrence Seaway System so far this season, up 12% over last year, according to the Chamber of Marine Commerce.
— USDA daily export sale:
• 200,000 MT soybeans to unknown destinations, 2024-25.
— Ag trade update: South Korea purchased 50,000 MT of non-GMO soybeans.
— NWS outlook: Atmospheric River to bring very heavy rainfall and possible flooding as well as high elevation mountain snow to the West Coast... ...Heavy mountain snow forecast for portions of the Great Basin and northern Rockies Saturday... ...Potentially impactful wintry mix with freezing rain expected across the Middle Missouri Valley and Upper Midwest Saturday.
Items in Pro Farmer’s First Thing Today include:
• Another lightly traded overnight session for grains
• Wholesale beef strengthens
• Cash hog index firms, pork cutout weakens
• GIWA raises Western Australian wheat production forecast
• Argentina’s top corn growing province in need of rainfall for planting
| CONGRESS |
— Congressional deadline approaches for final spending bill negotiations. Congressional leaders are “racing” to finalize a comprehensive legislative package before the Friday deadline to ensure time for drafting and posting over the weekend. The stopgap spending bill proposes extending the current resolution (CR) deadline from Dec. 20 to March 14, providing a window for negotiations on fiscal year (FY) 2025 appropriations with the incoming Trump administration.
Of note: Some parts of a 2018 Farm Bill extension were requiring leadership intervention (see next item).
Key provisions and debates:
• AM radio mandate: Likely to pass with a sunset provision, requiring new vehicles to support AM radio for emergency broadcasts, despite opposition from automakers like Tesla.
• RFK stadium transfer: Controversial legislation to transfer jurisdiction of the RFK stadium site to D.C., enabling potential redevelopment, faces resistance from Maryland lawmakers over regional funding disputes.
• Coast guard reauthorization: Efforts are ongoing to include measures initially excluded from defense authorization bills.
• Outbound investment oversight: Senate-backed provisions require notification to the Treasury for investments in sensitive tech sectors in adversarial nations, addressing national security concerns.
— 2018 Farm Bill extension stalled amid conservation and farmer aid disputes. As Congress races against the clock to finalize a farm bill extension, negotiations are stalled over conservation funding and economic aid for farmers. Disagreements center on reallocating conservation funds from the 2022 Inflation Reduction Act and providing $9.8 billion in economic relief for farmers. Lawmakers face a Dec. 20 deadline to attach the extension to a continuing resolution before the current one expires, avoiding a reversion to outdated farm laws from the 1930s. While Democrats have proposed reallocating funds to support struggling farmers, Republicans remain divided. There is some GOP pushback on making the conservation funds part of permanent new mandatory spending.
Of note: Outgoing Senate Ag Chairwoman Debbie Stabenow (D-Mich.) and House Ag ranking member David Scott’s (D-Ga.) farm bill extension proposal dropped the mandatory climate sideboards on three of the four conservation programs. Their proposal would require that 40% of the EQIP conservation funds go to the sideboards. Stabenow and Scott submitted proposals on Dec. 3 that were rejected by Republicans, and again on Dec. 8. Democrats have not received a response to the second offer.
House Ag Chair GT Thompson (R-Pa.) said conservation funds aren’t the biggest barrier in the negotiations. “I think it really comes down to the economic relief for our farmers,” Thompson said. “This is a chance to do a little CPR on it before President Trump comes into office.”
Democrats’ latest proposal included about $9.8 billion in economic assistance to farmers. The majority of the funds — nearly $8.8 billion — would go to major commodity crop producers to mitigate high input costs and low commodity prices. The payments are based on Rep. Trent Kelly’s (R-Miss.) bill (HR 10045) introduced in October.
The remaining $1 billion would go for a flat 15% reimbursement of crop insurance premiums and fees, the Noninsured Crop Disaster Assistance Program and Catastrophic Risk Protection Endorsement. Eight states would receive more than $500 million in financial assistance, with Texas receiving the most aid at $1 billion, followed by Iowa at $860 million and Kansas at $850 million. “Farmers need certainty before meeting with their bankers early next year. Democrats have put forward a paid-for plan that provides billions of dollars to help farmers face a challenging economic environment,” Scott said in a statement Thursday.
Republican leaders have offered $16 billion in funding for farmers hit by natural disasters and $12 billion in additional economic aid. That is less than the $15 billion Ag Committee Republicans are seeking.
Key: The paid-for Dem plan is based on a Congressional Budget Office estimate that by putting conservation funds into the farm bill baseline, lawmakers would also be using more of the Commodity Credit Corporation spending. That in turn would limit what the USDA secretary can spend with his Section 5 authority over the CCC.
Democrats say the result is about $10 billion in savings in what Thompson describes as “magic math that they got out of CBO. I’d sooner use that for, quite frankly, I’d like to reserve that for getting a farm bill done.” Scott said, “Republicans would be foolish not to seize the opportunity to deliver much-needed funding to our farmers and farm programs.” While Thompson disagrees with the funding mechanism for the economic assistance to farmers, he’d still like the “extension plus” to include aid. “But we do need to get economic assistance. So, we’re working on other approaches right now,” he said. “Somewhere in the neighborhood, total combined, about $15 billion.”
| RUSSIA/UKRAINE |
— Ukraine’s grain crop a little bigger than previously expected while exports to fall sharply. Ukraine’s grain production could total around 55 MMT, up 1 MMT from the previous outlook, Ukrainian Agriculture Minister Vitaliy Koval said. Koval said Ukraine’s exportable surplus for 2024-25 will be 40.3 MMT, including 20.5 MMT of corn, 16.2 MMT of wheat and 2.9 MMT of barley, down from 51 MMT last year. As of Dec. 13, Ukraine had exported 19.4 MMT of grain, including 9.2 MMT of wheat, almost 8 MMT of corn and 1.9 MMT of barley.
| CHINA UPDATE |
— China posts record grain production. China’s total grain production reached a record of 706.5 MMT this year, the National Bureau of Statistics said, up 1.6% from last year. The corn crop was a record 294.92 MMT, up 2.1% from last year. Rice production rose 0.5% to 207.5 MMT, while wheat output grew 2.6% to 140.1 MMT. Soybean output fell 0.9% to 20.65 MMT. The bumper harvest was attributed to larger plantings of rice and corn, on top of better yields of rice, wheat and corn.
— China’s credit growth unexpectedly slows despite stimulus effort. China’s aggregate financing, a broad measure of credit, increased 2.34 trillion yuan, according to Bloomberg calculations based on data released by the People’s Bank of China, down from 2.5 trillion yuan in the same month a year ago. Chinese banks extended 580 billion yuan ($79.72 billion) in new yuan loans in November, up from 500 billion yuan in October but well below 1.09 trillion yuan last year. New yuan loans totaled 17.1 trillion yuan for the first 11 months of the year.
— China at FAO in U.S. focus. Seventeen Republican lawmakers penned a letter to President Joe Biden Wednesday expressing concern that China’s involvement in the United Nations’ Food and Agriculture Organization’s Council has “eclipsed several United Nations’ policy goals with initiatives which serve China’s foreign policy agenda.”
| TRADE POLICY |
— U.S. manufacturers stockpile ahead of U.S. tariff threats. U.S. manufacturers are scrambling to secure critical parts and raw materials as new tariffs loom under Donald Trump’s presidency. A survey by GEP and S&P Market Intelligence shows demand for North American factory inputs surged to its highest level since mid-2023 following Trump’s November victory. Supply chain experts highlight industrial and consumer packaged goods producers as key players in the stockpiling race, aiming to maintain competitive pricing. Trump has vowed to introduce tariffs soon after his Jan. 20 inauguration, with potential rates of 25% on imports from Mexico and Canada and up to 60% on goods from China, causing significant concern among manufacturers.
| ENERGY & CLIMATE CHANGE |
— USDA extends biorefinery loan program deadline. USDA’s Rural Business-Cooperative Service has extended the application deadline for its Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program (9003 Program) through Dec. 31. Traditionally closing on Oct. 1 and April 1, the program provides up to $250 million in loan guarantees to support the development, construction, and retrofitting of innovative technologies.
| LIVESTOCK, NUTRITION & FOOD INDUSTRY |
— DOGE looking at SNAP fraud. Vivek Ramaswamy set his sights on USDA’s low-income food assistance program, formerly known as food stamps, suggesting that cutting “waste & fraud in SNAP would save billions annually” in a post on X. Trump tapped Ramaswamy and Elon Musk to lead the Department of Government Efficiency (DOGE), a commission focused on reducing government spending.
— AquaBounty Technologies ceases operations amid financial struggles. AquaBounty is winding down its Bay Fortune facility in Prince Edward Island, Canada, its last operating farm. They are (1) Culling all remaining fish, including AquAdvantage salmon broodstock, (2) Substantially reducing personnel over the coming weeks, and (3) Shutting down farm operations entirely.
Severe liquidity issues persisted despite efforts to raise capital. Attempts included selling farms, equipment, and generating cash through other means. These efforts failed to sustain operations.
CEO Dave Melbourne resigned on Dec. 6, succeeded temporarily by CFO David Frank. Chief Operating Officer and Chief People Officer roles were eliminated.
— Trump’s evolving stance on grocery prices. President-elect Donald Trump has recently adopted a more measured tone on the issue of grocery prices, acknowledging the challenges of reducing costs despite making it a central campaign promise.
Campaign promise: Trump pledged to “significantly reduce” grocery prices, making it a key selling point of his bid for the presidency.
Reality Check: In a Time magazine interview, Trump admitted, “It’s hard to bring things down once they’re up,” signaling a shift from his earlier confidence.
Trump has outlined several potential strategies to address food pricing:
• Energy costs: Lowering energy prices could indirectly reduce grocery costs.
• Supply chain improvements: Streamlining logistics could enhance efficiency.
• Oil production: Boosting domestic oil production to reduce overall inflation.
Recent data highlights the complexity of the issue:
• Consumer expectations: A Purdue University report shows consumers anticipate food inflation to be around 5.4%, lower than in previous months but still higher than official CPI figures.
• Inflation data: The CPI measure for food inflation has stabilized at 2.2% for five consecutive months.
Trump’s approach to food pricing faces notable obstacles:
• Tariffs: Proposed tariffs could raise the cost of imported goods, impacting food prices.
• Labor shortages: Immigration policies may disrupt the agricultural labor force.
• Economic complexity: External factors like global markets and weather make food prices difficult to control.
| POLITICS & ELECTIONS |
— Macron names centrist François Bayrou as new prime minister. President Emmanuel Macron has appointed François Bayrou, a centrist and longtime ally, as France’s new prime minister. The move aims to stabilize the government amid political upheaval following the resignation of Michel Barnier. Barnier stepped down last week after Parliament rejected his proposed deficit-cutting budget, leaving France’s political and economic direction in flux.
| OTHER ITEMS OF NOTE |
— Cotton AWP moves lower. The Adjusted World Price (AWP) for cotton will be 56.22 cents per pound, effective today (Nov. 13), down from 57.74 cents per pound the prior week. But the rate is still more than 4 cents above the level that would trigger an LDP under the farm program. Meanwhile, USDA announced that Special Import Quota #9 will be established Dec. 18 for the import of 31,716 bales of upland cotton, applying to supplies purchased no later than March 18 and entered into the U.S. no later than June 16.
— Remembering William J. (Bill) Hudson. William J. (Bill) Hudson, born Dec. 8, 1938, in Kansas City, Mo., led a remarkable life defined by intellectual curiosity, professional achievements, and a deep love for family and faith. Bill graduated from the University of Kansas with a triple major in math, English, and history, followed by an MA in English. He embarked on a diverse career path, beginning in advanced technology at Sandia National Laboratories and later transitioning to the grain industry. In 1988, he founded The ProExporter Network, innovating GIS software used nationwide. Bill’s towering height of 6'10" brought challenges, including cramped airplane seats, but serendipity struck on a flight when he met Betty L. Kane. Their shared humor blossomed into a 49-year marriage filled with love, laughter, and family. Together, they raised Bill’s daughters, Marianne and Liza Jane, and cherished their grandchildren and great-grandchildren. Memorial contributions may be made to Colonial Presbyterian Church in Overland Park, Kansas.
Of note: An ag industry veteran said: “He did a good job pushing USDA’s World Ag Outlook Board to look hard at ethanol in the early 2000s. That really helped. He was a good thought leader for agriculture, especially ag sector industry leadership.”
| KEY LINKS |
WASDE | Crop Production | USDA weekly reports | Crop Progress | Food prices | Farm income | Export Sales weekly | ERP dashboard | California phase-out of gas-powered vehicles | RFS | IRA: Biofuels | IRA: Ag | | Russia/Ukraine war, lessons learned | | SCOTUS on WOTUS | SCOTUS on Prop 12 pork | New farm bill primer | | Gov’t payments to farmers by program | Farmer working capital | USDA Ag Outlook Forum |