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: 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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.