Late last week, the House of Representatives voted to accept the budget resolution passed by the U.S. Senate, which provides for tax reform and would allow federal revenues to fall short of the current 10-year baseline by as much as $1.5 trillion. It is a far different provision than the original House budget resolution that called for any tax reform to be budget neutral and instructed the House Ways and Means Committee to come up with $52 billion in deficit reduction or approximately 25 percent of the total budget savings included in the budget blueprint. Further, the original House budget called for 10-year spending cuts in agricultural programs of $10 billion as a means toward deficit reduction and paying for tax reform. The Senate plan...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.