Export Sales for September 16-22, 2022. Wheat: Net sales of 279,800 metric tons (MT) for 2022/2023 primarily for Guatemala (115,400 MT, including 51,500 MT switched from unknown destinations), Thailand (47,500 MT), Mexico (45,500 MT, including decreases of 13,000 MT), Italy (31,800 MT), and Brazil (30,000 MT), were offset by reductions for unknown destinations (66,300 MT), Malaysia (700 MT), and Costa Rica (400 MT). Net sales reductions of 29,700 MT for 2023/2024 resulting in increases for South Korea (300 MT), were more than offset by reductions for Brazil (30,000 MT). Exports (Shipments) of 620,700 MT were primarily to China (137,400 MT), Chile (71,100 MT), Nigeria (69,700 MT), Mexico (50,000 MT), and Japan (48,20...
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.