The First Shot U.S. President Joe Biden and Chinese President Xi Jinping faced off today in a virtual meeting of the Asia Pacific Economic Council (APEC) but there was a behind the scenes trade fight going on in Geneva. The U.S. asked the WTO to approve retaliatory measures against China, claiming the Middle Kingdom has failed to comply with a dispute settlement case that found its management of agricultural tariff rate quotas were violative of its obligations. In response, Beijing requested a compliance panel to review the matter, hoping to kick the problem down the road. A former U.S. agricultural trade negotiator called it “the first shot at China by the new USTR.” It could help the Biden Administration on Capitol Hill...
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.