On 5 February, the Senate passed its budget resolution by a vote of 51 to 50, with Vice President Harris casting the tie breaking vote. The Budget resolution is the underlying vehicle to pass an omnibus reconciliation bill that would make a number of legislative changes. For an explanation of the reconciliation process, see our report of 11 January. In short, the reconciliation process is a way to avoid the 60-vote majority needed to overcome a filibuster in the Senate. Under the process, the budget resolution instructs the legislative committees in each respective chamber to consider statutory changes to conform with the budget totals through what are known as “reconciliation instructions.” Each legislative committee writes a...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
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.