Today, the U.S. International Trade Commission (ITC) voted not to impose antidumping (AD) duties on UAN from Russia and Trinidad and Tobago (see prior coverage from 10 June here). This is a surprise outcome; in June the Department of Commerce ruled that UAN exports were unfairly subsidized and dumped. For Trinidad and Tobago, the weighted average dumping margin was calculated at 111.71 percent which is where the AD duties would be set. The unfair subsidy and CVD rate was determined to be 1.83 percent. Today’s vote by the ITC was on whether the U.S. industry was harmed by imports from Trinidad and Tobago and Russia; the determination was the U.S. industry was not harmed. Trinidad accounts for about 45 percent of all UAN i...
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.