Macroeconomics Food Inflation Soars to 1 Percent in May After seeing food prices rise by just .4 percent in April, May saw a sharp rebound driven by the cost of cooking oils, fresh fruit, and milk. May also marked the fourteenth consecutive month that the cost of food has risen year-on-year. The average price for cooking oils, fresh fruit, and milk moved up by 3.6 percent, 3.4 percent, and .6 percent, respectively, but the increases were actually less than in April. The other major factor was the cost of fresh vegetables, which continued to fall in May as compared to their price a year ago, with a decrease of 1.7 percent. However, that was markedly lower than in April when they fell year-on-year by 13.5 percent. The price of eggs also dro...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Mediterranean/Middle East/North Africa/Africa – MEA Region Bangladesh is reported to have finalized the purchase of 270,000 MT of wheat, including 220,000 MT of U.S. wheat. The U.S. wheat is priced at $322/MT, with an additional 50,000 MT of wheat at $297.90/MT through an international te...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.