WTO Reforms Brazil has proposed annual instead of biennial ministerial meetings. The U.S. and EU agree with this plan, arguing it would make the WTO more responsive, and provide the organization with more current guidance. Meanwhile, the IMF has suggested stronger coordination between the bank and the WTO, a position likely endorsed by Director General Ngozi Okonjo-Iweala since she worked at the World Bank. However, the larger problem at the WTO is that it has become captive to developing countries wanting the organization to act more like a global aid agency than a trade liberalization organization. This mission creep is what has threatened the WTO’s relevance. Cash in Lieu of Commodities The Biden Administration is reported...
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
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.