Much like U.S. farmers, Ukrainian producers prefer to plant the most profitable crops. This is especially true when considering Ukraine’s farmers are reportedly losing $50/MT on corn. The preference is to grow soybeans, and output of the oilseed increased nearly 27 percent in 2023. However, they reportedly lack the money and technology for a large shift away from corn and into soybeans. The easier transition may be into more sunflower seed since they likely already own the seeds and the technology. Although wheat production increased nearly 9 percent last year and remains below pre-war levels, the crop puts Ukraine in direct competition with Russia, and Moscow will ensure that it is a decidedly unprofitable crop for Ukraine to...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
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.