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: 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.