As we’ve previously reported, EPA’s 2021 annual biofuel required volume obligations (RVO) rule has been at the Office of Management and Budget since 13 May undergoing review. That rule is likely to be issued soon, and after that the anticipated 20.17 billion gallon RIN equivalent volume rule, of which 15 billion is ethanol. EPA is now indicating that it is likely that a supplemental RVO will come later in the year. The supplement is expected to be another 250 million gallons, to be matched by a second supplemental rule in 2022 to make up for the 500 million gallons of conventional ethanol from 2016 which the courts ruled EPA had waived incorrectly. That would make the effective ethanol RVO 15.25 billion gallons for...
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.