With controversy over small refinery exemptions (SREs), election year political strategies, and COVID, the U.S. Environmental Protection Agency (EPA) never issued the required volume obligations (RVOs) for 2021 as required under the Renewable Fuel Standard. The statutory deadline is one week from today, 30 November. That deadline won’t be met, as EPA never even issued the proposed RVOs (though they finished those in May); the proposed volumes must be published for public comment before they can be finalized. That leaves the most likely option – punt the rule until next year and let the new Biden EPA take it up. Even if it was the Biden EPA’s first action next year, it can’t happen before the end of Janua...
What You Need to Know Today: Corn and soybean futures were lower to open the week, with funds still in control and in a selling mood. The upcoming WASDE report on Tuesday is also likely to feature larger corn and soybean stocks, which helped put grain futures on the defensive. Wheat futures we...
Key Takeaways: Currency exchange rates influence agricultural export competitiveness and producer profitability, even when underlying commodity prices remain unchanged. A weaker domestic currency allows agricultural exporters to receive more local currency for dollar-denominated sales, potenti...
Although inflation has remained elevated since the post-COVID surge, it steadily moderated until the past year. More to the point, today’s inflation looks very different from 2022, when the Consumer Price Index (CPI) peaked at 9 percent. During and after the pandemic, the M2 money supply...
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.