Export Sales and Shipments for March 8-14, 2024 Wheat: Net sales reductions of 109,600 metric tons (MT) for 2023/2024--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average. Export shipments of 395,900 MT were down 13 percent from the previous week and 9 percent from the prior 4-week average. The destinations were primarily to Mexico (141,500 MT, including 6,600 MT - late), South Korea (85,400 MT), China (51,800 MT), Algeria (34,200 MT), and Japan (32,800 MT). Corn: Net sales of 1,185,800 MT for 2023/2024 were down 8 percent from the previous week, but up 10 percent from the prior 4-week average. Export shipments of 1,528,500 MT--a marketing-year high--were up 21 percent from the p...
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
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.