One of the most anticipated speakers each year at the USA Rice Outlook Conference is Jim Wiesemeyer with Informa Economics. He’s a well-respected Washington reporter, not afraid to get out on issues, and always entertaining.
Here are the highlights of his presentation:
- The economy is headed toward a realignment. Agreeing with Dr. Kohl of Virginia Tech, he thinks that the Fed will raise interest rates at their December 16 meeting and that emerging economies could slide international stock markets toward a pull back. He also noted, weak oil prices and a stronger U.S. dollar and larger commodity supplies as contributing factors toward a softening of the U.S economy and Ag sector.
- Rice has some upside potential on prices for 2016, contrary to other commodities especially soybeans.
- Optimism with new leadership in Washington was noted with a 5-year transportation bill passing Congress as an example of Congress finally breaking its years long impasse.
- Unlikely vote on the TPP until after the 2016 Presidential elections.
- Election politics will mean that little is done in Washington after the first of the year. The exception is an increased pace of regulation in the waning days of the administration.
- Finally, he went out on a limb and predicted Clinton as the Democratic nominee and either Rubio or Cruz on the Republican side.
Next year be sure to attend this informative and important conference December 7-9 in Memphis Tennessee.
Photo courtesy of USA Rice