President Trump held a Rose Garden briefing today at 3:30 declaring a national emergency for the coronavirus and unveiling the latest initiatives. That designation frees up federal monies and loosens certain regulations to facilitate more targeted and rapid responses. The major commodity related development was the pledge to fill the Strategic Petroleum Reserve (SPR). According to the President, “we are going to fill it up right to the top.” Trump ordered the release of oil from the SPR last August after the attack on the Saudi oil fields. Inventories went from 644.818 million barrels in July and ended 2019 at 634.967 million barrels. The total capacity of the SPR is 727 million barrels, meaning it is at about 87 p...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
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.