President Biden tweeted over the weekend that, “My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril…“Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.” The oil and gas industry advised that the White House intern that wrote the tweet should enroll in Econ 101. The Wall Street Journal noted that most gas stations are individually, or family owned, and they earn an average of 10-cents a gallon. The more profitable side of the business is selling agricultural products like food and cigarettes. The agrifood industry should be concerned whenever policymakers reveal t...
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
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.