The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) data for December yesterday. For the month, the CPI was up 0.4 percent, while year-over-year it was up 2.9 percent. The core CPI – excluding energy and food – was up 3.2 percent, well above the Fed’s 2 percent target. Energy was down 0.5 percent, while food increased 2.5 percent, with food at home (retail) up 1.8 percent and food away from home up 3.6 percent. For the food at home category, beef was up 4.9 percent on the year, with ground beef up 5.2 percent and beef roasts up 7.1 percent. Retail prices lag behind the wholesale boxed beef cutout, and the cutout was up 8.2 percent in December compared to December 2023, and so far in January the cutout has been...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
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.