Export Sales and Shipments for May 5-11, 2023. Wheat: Net sales reductions of 42,100 metric tons (MT) for 2022/2023--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average. Export shipments of 216,600 MT were up 6 percent from the previous week, but down 13 percent from the prior 4-week average. The destinations were primarily to Japan (47,400 MT), the Philippines (47,300 MT), Mexico (42,900 MT), Nigeria (25,100 MT), and Algeria (19,700 MT). Corn: Net sales reductions of 339,000 MT for 2022/2023--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average. Export shipments of 1,086,500 MT were down 5 percent from the previous week and 17 perce...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.