Export Sales and Shipments for September 20-26, 2024. Wheat: Net sales of 443,700 metric tons (MT) for 2024/2025 were up noticeably from the previous week and up 46 percent from the prior 4-week average. Export shipment of 531,700 MT were down 25 percent from the previous week and 16 percent from the prior 4-week average. The destinations were primarily to the Philippines (240,100 MT), South Korea (123,700 MT), Chile (55,400 MT), Vietnam (31,900 MT), and Mexico (26,500 MT). Corn: Net sales of 1,684,100 MT for 2024/2025. Export shipments of 1,170,400 MT were primarily to Mexico (392,900 MT), Colombia (331,900 MT), Japan (254,000 MT), Spain (71,500 MT), and Panama (44,800 MT). Soybeans: Net sales of 1,443,500 MT for 2024/...
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
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.