Export Sales and Shipments for December 15-21, 2023. Wheat: Net sales of 276,400 metric tons (MT) for 2023/2024 were down 14 percent from the previous week and 60 percent from the prior 4-week average. Export shipments of 342,000 MT were up 1 percent from the previous week and 17 percent from the prior 4-week average. The destinations were primarily to Japan (60,800 MT), Thailand (60,000 MT), South Korea (56,900 MT), Vietnam (41,700 MT), and Algeria (40,800 MT). Corn: Net sales of 1,242,100 MT for 2023/2024 were up 23 percent from the previous week, but down 12 percent from the prior 4-week average. Export shipments of 1,279,500 MT--a marketing-year high-- were up 47 percent from the previous week and 55 percent from the prior...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.