Yesterday, USDA announced another round of the Food Box Distribution Program purchases with the $1.5 billion provided by the COVID relief provisions in the omnibus end-of-the-year spending package. As we wrote on 21 December when Congress reached a deal on the spending package – before the President’s veto threat and subsequent rescission message, the money was appropriated to USDA at the Secretary’s discretion to “purchase food and agricultural products, including seafood” and noted, While the language is not explicit, this sounds – from a practical sense – like it could be an extension of the Food Box Distribution Program. It could also be a more traditional USDA commodity donation program...
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...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.