Yesterday, WPI discussed the various measures of inflation, and the drop in energy costs which held down the CPI, but not the alternative measures of inflationary pressures which exclude energy. Some of that same dynamic can be seen in the USDA’s most recent cost of production report, forecasting for both 2023 and 2024. Lower natural gas and nitrogen fertilizer prices are reflected in the forecast, but other categories like labor, machinery and equipment, taxes, and insurance are all forecast to increase. With corn prices expected to moderate, this could pressure farmers’ margins this year and into next. Since 2020, in percentage terms, fertilizer and interest rates have seen the greatest increase in costs – both up 78 pe...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.