Export Sales and Shipments for November 3-9, 2023. Wheat: Net sales of 176,300 metric tons (MT) for 2023/2024 were down 50 percent from the previous week and 57 percent from the prior 4-week average. Export shipments of 310,500 MT were up noticeably from the previous week and up 65 percent from the prior 4-week average. The destinations were primarily to the Philippines (123,400 MT), Mexico (55,600 MT), South Korea (55,600 MT), Algeria (22,200 MT), and Brazil (16,500 MT). Corn: Net sales of 1,807,500 MT for 2023/2024 were up 78 percent from the previous week and 81 percent from the prior 4-week average. Export shipments of 683,100 MT were down 17 percent from the previous week, but up 17 percent from the prior 4-we...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
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.