Export Sales and Shipments for July 28-August 3, 2023. Wheat: Net sales of 567,600 metric tons (MT) for 2023/2024--a marketing-year high--were up 35 percent from the previous week and 86 percent from the prior 4-week average. Export shipments of 351,800 MT were down 31 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to Mexico (101,600 MT), the Philippines (57,900 MT), Taiwan (52,700 MT), Ecuador (35,300 MT), and South Korea (35,200 MT). Corn: Net sales of 150,400 MT for 2022/2023 were up 40 percent from the previous week, but down 47 percent from the prior 4-week average. Export shipments of 478,400 MT were down 24 percent from the previous week, but unchanged from th...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.