Export Sales and Shipments for June 9-15, 2023 Wheat: Net sales of 109,700 metric tons (MT) for 2023/2024, were offset by reductions for the Philippines (20,700 MT), unknown destinations (13,000 MT), and Honduras (8,300 MT). Export shipments of 155,900 MT were primarily to Ecuador (33,000 MT), South Korea (28,900 MT), Panama (26,300 MT), Mexico (21,100 MT), and Taiwan (19,300 MT). Corn: Net sales of 36,000 MT for 2022/2023 were down 87 percent from the previous week and 74 percent from the prior 4-week average. Export shipments of 668,300 MT were down 44 percent from the previous week and 50 percent from the prior 4-week average. The destinations were primarily to Mexico (283,500 MT), China (179,100 MT), Japan (150,900 M...
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
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.