As Gary Blumenthal reported on Friday, the Supreme Court, in a 6-3 decision, overruled the 10th District Federal Court of Appeals decision on the EPA’s granting of small refinery exemptions (SREs) to meet the renewable fuel standard (RFS) volumes. Recall that in January 2020, the 10th District Court ruled that EPA went beyond its statutory authority in granting three different small refinery exemptions (SREs) for 2016 and 2017; this decision came regarding a case filed by several producer and biofuels groups in 2018. SREs were automatic through 2013; after that, refineries had to petition for them based on proving that economic harm was caused by the RFS volumes. The Court ruled that none of the three refineries which received...
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...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
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.