Macroeconomics Food Inflation Continues to Bite, Up 7 Percent in October The average cost of food in October was up year-on-year for the seventh consecutive month. With an uptick of 7 percent, food prices slowed their climb compared to September when they rose by 8 percent on an annualized basis. The rebound in pork prices in October helped drive the overall increase as they surged ahead by 51.8 percent compared to a year ago. Meanwhile, prices for fresh fruit, eggs, milk, and cooking oils were up by 12.6 percent, 11.8 percent, 1.1 percent, and 8.4 percent. The only reprieve of note happened with fresh vegetables, which saw their average prices fall by 8.1 percent compared to October 2021. Apart from food costs, the inflation...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.