Export Sales and Shipments for the period June 2-8, 2023. Wheat: Net sales of 165,000 metric tons (MT) for 2023/2024. Export shipments of 249,700 MT were primarily to Mexico (60,200 MT), Taiwan (57,000 MT), the Philippines (56,600 MT), Yemen (53,800 MT), and Colombia (14,500 MT). Corn: Net sales of 273,300 MT for 2022/2023 were up 58 percent from the previous week and up noticeably from the prior 4-week average. Export shipments of 1,192,600 MT were down 4 percent from the previous week and 10 percent from the prior 4-week average. Soybeans: Net sales of 478,400 MT for 2022/2023 were up noticeably from the previous week and from the prior 4-week average. Export shipments of 141,300 MT were down 43 percent fr...
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.