Oil Policy Change President Biden’s White House is getting pressured to stop imports of Russian oil, and to increase drilling for domestic oil. Critics argue otherwise Americans are funding Mr. Putin’s war and the President’s domestic policy agenda is not really “Buy American.” He may have to cave on both matters. Analysts are now saying that oil could hit $185/barrel later this year. That would be the highest in nominal terms since the price hit $179.90/barrel in June 2008. However, in real terms the price would need to hit $234.92/barrel to become a new record of impact. Either way, this dynamic will continue to put upward pressure on corn and soybeans. Oil at that level would also push the average cost of g...
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.