Export Sales and Shipments for December 1-7, 2023 Wheat: Net sales of 1,490,500 metric tons (MT) for 2023/2024--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. Export shipments of 289,600 MT were up 46 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Japan (79,800 MT), Mexico (50,100 MT), the Philippines (46,600 MT), Thailand (27,700 MT, including 27, 400 MT - late), and Italy (23,400 MT). Corn: Net sales of 1,418,600 MT for 2023/2024 were up 10 percent from the previous week, but down 12 percent from the prior 4-week average. Export shipments of 851,000 MT were down 22 percent from the previous week, but up 18 per...
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.