Hoodwinked by Mexico USDA Secretary Tom Vilsack’s announcement last week that Mexican Agriculture Secretary Victor Villalobos assured him that U.S. yellow corn would still be imported despite a GMO ban is unsettling for multiple reasons. As noted at the time by WPI, the risk is not that Villalobos will block imports but that COFEPRIS will not approve new traits, effectively blocking American innovation. However, there are multiple other concerns for the U.S. industry. First, the assurance is only for yellow corn, which is a large economic interest but not the only commodity or principle at risk. It may please some Iowa farmers but only being the Secretary of Yellow Corn when Mexico is committing a broadly unscientific and illegal act...
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.