Export Sales and Shipments for February 23-29, 2024. Wheat: Net sales of 271,100 metric tons (MT) for 2023/2024 were down 17 percent from the previous week and 16 percent from the prior 4-week average. Export shipments of 368,300 MT were down 32 percent from the previous week and 10 percent from the prior 4-week average. The destinations were primarily to Mexico (103,100 MT), China (59,200 MT), South Korea (44,200 MT), the Dominican Republic (34,800 MT), and Japan (31,500 MT). Corn: Net sales of 1,109,600 MT for 2023/2024 were up 3 percent from the previous week, but unchanged from the prior 4-week average. Export shipments of 1,159,500 MT were down 5 percent from the previous week, but up 18 percent from the prior 4-week aver...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.