Yesterday, President Biden announced what will be his Administration’s third release of oil from the Strategic Petroleum Reserve (SPR) and it will be the largest in history at 180 million barrels over six months, via 1 million barrel per day releases. Recall, as WPI covered here, 50 million barrels were released in November 2021 to help ease rising domestic gasoline prices. At the time of the release, WTI crude was around $78/barrel. Prices eased some but were back at the same level by the first week of January. Then, as WPI covered here, another 30 million barrels were released as of 1 March 2022 (along with a coordinated 30 million barrel release from the International Energy Agency (IEA) to add 60 million barrels to the market)...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.