The White House was to hold a meeting today, chaired by Vice President Pence, to discuss more options on price relief for Renewable Identification Numbers (RINs). The attendee list was changed to involve only administration appointees and staff (no elected officials, including members of Congress) together with representatives of the ethanol and merchant refining industries. However, the meeting was then cancelled. Some refiners do not sell final blended fuel, which includes biofuel and petroleum. They only make gasoline, heating fuel, diesel, and jet fuel, selling it to an entity that then blends in the ethanol or biodiesel. Under the statute, these merchant refiners nonetheless are “obligated parties” that must comply with th...
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.