The U.S. EPA announced a major change in the agency’s perspective on granting small refinery exemptions (SREs) under the renewable fuel standard. In short, EPA will apply the ruling of the 10th District Federal Court of Appeals decision on granting SREs. Recall that in January 2020, the Court ruled that EPA went beyond its authority in granting three different SREs for 2016 and 2017; this decision came on a case filed by a number of producer and biofuels groups in 2018. The Court ruled that none of the three refineries consistently received an SRE prior to their 2016 exemption petitions, so therefore the EPA had exceeded its authority to grant extensions of the SREs “because there was nothing to extend&...
Macro: Treasury Squeezes Yields, the Dollar Gives Way Today’s markets are offering a lesson in pressure: it rarely disappears — it simply moves. The U.S. Treasury stepped into the bond market after long-term yields surged to levels not seen in nearly two decades. By announcing plans...
Key Takeaways: With cattle supplies historically tight and packer margins deeply negative, beef processors are reducing excess slaughter capacity, with decisions over which plants to close driven by cattle availability, operating efficiency, and the ability to maintain high utilization rates...
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.