The House Agriculture Subcommittee approved its version of the FY 2021 ag appropriations bill. The measure will now move to the full committee - currently scheduled for Thursday. The House of Representatives, which has been holding only pro forma floor sessions, will likely take up this and the other appropriations bills between 20 July and 31 July. The House bill moved through the subcommittee easily; there were no amendments. Overall discretionary spending (as opposed to the mandatory spending for farm bill programs) is pegged at $23.98 billion, which is 2 percent ($487 million) more than the enacted FY 2020 level. The bill was within the limits of a bi-partisan agreement reached last year which limited year-over-year d...
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.