Export Sales and Shipments for August 25-31, 2023 Wheat: Net sales of 370,300 metric tons (MT) for 2023/2024 were up 13 percent from the previous week, but down 11 percent from the prior 4-week average. Export shipments of 316,600 MT were down 11 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Indonesia (74,000 MT), Thailand (58,000 MT), Mexico (52,700 MT), Taiwan (52,400 MT), and Peru (33,000 MT). Corn: Net sales of 949,700 MT for 2023/2024 marketing year which began September 1. Export shipments for the period ending August 31- September 1 of 515,000 MT brought accumulated exports to 39,469,100 MT, down 34 percent from the prior year&rsquo...
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.