Today is primary Tuesday for the Republican Senate races in three key states: West Virginia, Ohio and Indiana. Each has a contested Republican primary and an incumbent Democrat defending his seat. They also all voted for Donald Trump in 2016 and are three of the 10 states where he won with Democratic incumbent senators. Trump won Ohio by 8 percent, Indiana by 19 percent and West Virginia by 42 percent. Yet, all three still have some drama about which party’s candidate will be the presumed frontrunner going into the November election. In Ohio, the marquee matchups are for the governor’s race with both parties having primaries. For the Senate seat, there is a six-candidate Republican primary for the chance to take on incumbent De...
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
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.