World Perspectives

Revising Down the Economy

We’ve now had a couple of months in 2024 where economic report revisions have come in, and they have been significant. This has changed the outlook on the economy from bullish during the last part of 2023 and January, to now being more uncertain.  First, the February payroll report showed an increase in non-farm jobs of 275,000, beating the consensus pre-report estimate of 200,000. However, that report came with downward revisions of 167,000 jobs to both the December and January initial estimates. That was the largest monthly downgrade for any non-COVID shutdown month since late 2008, at the beginning of the last recession. Thus, the adjusted February payroll report was just 108,000 above the original January level, and thus bel...

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feed-grains soy-oilseeds wheat

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War and China The U.S. and Israeli attacks on Iran also involve China, tangentially if not directly. Iran has been supplying about 13.4 percent of China’s oil imports, roughly 1 million barrels per day. The attacks follow the U.S. removal of Venezuela’s leader, a country that is a s...

Schumer Planning a Bill to Force Divestiture in Meat Industry

Senate Minority Leader Chuck Schumer (D-N.Y.) is currently seeking co-sponsors for a bill he will introduce as early as Thursday of this week, the Family Grocer and Farmer Relief Act. The plan promises to “break up dominant meatpackers, rein in foreign-controlled corporate giants, and use...

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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.

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