Today the president signed the appropriations bill that will cover the remainder of FY 2019 (through 30 September). The package was passed yesterday in the House and Senate by a vote of 300-128 and 86-13, respectively. It provides a compromise agreement on border security measures, but the president announced this morning that he will declare a national emergency to provide more funding for a border wall. That move will likely lead to even more rancorous relations with Congress just as the FY 2020 budget process is starting. Below are highlights regarding the bill’s impact on some USDA-related matters. Biodiesel Blender Tax Credit - The federal spending bill did not include an extension for this credit. Its biggest champion is Senato...
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.