Yesterday was the deadline for the bankruptcy case filed by Philadelphia Energy Solutions (PES). A settlement approved by a federal judge includes a controversial provision from the EPA: a concession on the Renewable Identification Numbers (RINs) that the refiner would have to turn into the agency to comply with the Renewable Fuel Standard RFS). PES is a merchant refiner, which means it does not sell final blended fuel that includes biofuels; it only makes the gasoline, heating fuel, diesel, and jet fuel that it then sells to an entity for blending with ethanol or biodiesel. Under the statute, merchant refiners are “obligated parties” that must comply with the RFS. Therefore, because they do not physically handle (and blend) bi...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.