Export Sales and Shipments for October 20-26, 2023. Wheat: Net sales of 275,600 metric tons (MT) for 2023/2024 were down 24 percent from the previous week and 43 percent from the prior 4-week average. Export shipments of 100,500 MT--a marketing-year low--were down 24 percent from the previous week and 68 percent from the prior 4-week average. The destinations were primarily to Mexico (23,800 MT), Algeria (22,100 MT), Taiwan (22,000 MT), Haiti (15,000 MT), and Colombia (9,600 MT). Corn: Net sales of 748,100 MT for 2023/2024 were down 45 percent from the previous week and 40 percent from the prior 4-week average. Export shipments of 505,900 MT were up 5 percent from the previous week, but down 17 percent from the prior 4-week av...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Proposition 12: The National Pork Producers Council (NPPC) has advocated for a fix to Proposition 12, the California animal welfare law, in the Senate farm bill. The House version of the farm bill included a fix, but the Senate bill, based on the discussion draft released by Chairman John Boozm...
Key Takeaways: Indonesia will raise its biodiesel mandate from B40 to B50 on 1 July, increasing palm oil–based diesel blending to 50 percent. The policy supports domestic palm oil demand and reduces reliance on imported diesel. Indonesia’s biodiesel program has steadily expanded si...
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.