Retaliation Against Mexico The Mexican government is imposing a 50 percent tariff on white corn imports to protect its growers from competition. This is a much more surgical approach than its proposed ban on all GM corn imports. Only 4.5 percent of U.S. corn exports to Mexico is white corn but the tariff will still violate the USMCA. It will require some kind of response from Washington but what? Over the past decade the U.S. has exported an average 840 KMT of white corn per year to Mexico. That has a value of around $220 million based on an average 13.3 percent price premium over U.S. yellow corn. Mexico’s policy will no doubt hurt Mexican consumers dependent on white corn-based tortillas for a significant share of thei...
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.