President Biden announced plans to release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR). Other countries who are members of the International Energy Agency (IEA) will release another combined 30 million barrels to add 60 million of supply for world market to ease the oil impact of the Russian war in the Ukraine. As of Friday 25 February, the SPR had 580 million barrels: 252.5 million of sweet crude and 327.5 million of sour crude. The capacity of the SPR is 714 million barrels, so the inventory is at about 80 percent of capacity and at its lowest inventory in 20 years. On 23 November 2021, Biden released 50 million barrels from the SPR, also along with an IEA coordinated release. The SPR release came in the form of...
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.