Export Sales and Shipments for January 19-25, 2024 Wheat: Net sales of 322,500 metric tons (MT) for 2023/2024 were down 29 percent from the previous week and 9 percent from the prior 4-week average. Export shipments of 267,100 MT were down 17 percent from the previous week and 26 percent from the prior 4-week average. The destinations were primarily to Mexico (73,500 MT), the Philippines (58,000 MT), South Korea (49,600 MT), Chile (35,200 MT), and Nigeria (14,100 MT). Corn: Net sales of 1,206,700 MT for 2023/2024 were up 26 percent from the previous week and 58 percent from the prior 4-week average. Export shipments of 911,400 MT were down 2 percent from the previous week, but unchanged from the prior 4-week...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.