Mexican President Andrés Manuel López Obrador imposed a 50 percent tariff on white corn imports largely coming from the U.S. The rationale being provided is that it is to protect the country’s historical and indigenous corn varieties. Eso es una tonteria. Mexicans eat white corn and the overwhelming variety that is being produced and eaten in Mexico are hybrids. So-called heirloom varieties comprise less than one percent of Mexico’s corn production. Notably, heirloom production is increasing but that is not due to Mexicans but increased exports to fulfill gowing demand in rich countries. Heirloom corn costs three times as much and is therefore not the source of the daily tortilla for most Mexicans. AMLO is playing...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.