Export Sales for Dec 9-15, 2022 Wheat: Net sales of 334,200 metric tons (MT) for 2022/2023 primarily for unknown destinations (86,000 MT), Japan (65,900 MT, including the decreases of 900 MT), Thailand (55,000 MT), Mexico (34,100 MT, including decreases of 100 MT), and the Philippines (29,000 MT), were offset by reductions primarily for the Dominican Republic (17,000 MT). Export shipments of 235,300 MT were primarily to South Korea (90,600 MT), Japan (65,800 MT), Mexico (39,800 MT), Honduras (20,000 MT), and Trinidad and Tobago (18,700 MT). Corn: Net sales of 636,800 MT for 2022/2023 primarily for Mexico (484,300 MT, including decreases of 15,400 MT), Japan (42,900 MT, including 19,300 MT switched from unk...
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.