The Thanksgiving holiday is coming up in about six weeks. It is a major driver of retail food shopping, with turkey as the key driver of proteins. Looking back at the past two years, the holiday was impacted in 2020 by COVID-19 which resulted in less travel and smaller Thanksgiving dinners. Those smaller gatherings were helpful to other proteins as consumers opted for less traditional turkey dinners in lieu of beef and pork cuts. Demand rebounded in 2021, and when coupled with production and supply chain problems for turkey, retail prices were up about 24 percent over 2020. Currently, wholesale prices of whole frozen turkeys are up about 32 percent over the same week in 2021. Prices for frozen Grade A 8-16 pound hens are $1.67 to $1...
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.