Oil versus Corn The White House will host a meeting with U.S. senators next week on biofuels policy. The debate is over two issues: 1) granting waivers to the ethanol blending mandate to refiners; and 2) allowing the year-round sale of 15 percent ethanol-gasoline blends. There is annual appropriations language that allows waivers for small refiners based on “disproportionate economic hardship.” However, some question its methodologies, and Senator Chuck Grassley (R-Iowa) wants to change the language. Others complain that a “hardship” waiver was granted to Carl Icahn, a multi-billionaire. Perhaps to better compete in its political dispute with agriculture, the oil industry has hired Mike Sommers to be the new head o...
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.