After going to four different grocery stores this past weekend looking for heavy cream and nearly coming up empty handed, it is confirmed that U.S. dairy supplies are tight. USDA initially proclaimed higher prices in 2022 due to larger exports, but those are running even with a year ago. Higher butter and cheese exports are offset by lower milk and nonfat milk powder exports. Overall U.S. dairy production is down one-half percent, but demand is strong. Meanwhile, Australia’s dairy production and exports have rebounded from last year’s drought. Diary-based food inflation hit 15.9 percent in September, versus 13 percent overall for food. U.S. dairy production in 2023 is forecast to rise while fat-based exports decline and s...
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...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.