Export Sales and Shipments for March 29 to April 4, 2024 Wheat: Net sales of 80,700 metric tons (MT) for 2023/2024 were up noticeably from the previous week, but down 2 percent from the prior 4-week average. Export shipments of 626,800 MT--a marketing-year high--were up 21 percent from the previous week and 41 percent from the prior 4-week average. The destinations were primarily to the Philippines (117,200 MT), Mexico (78,300 MT), Taiwan (77,500 MT, including 32,900 MT - late), Japan (56,900 MT), and China (55,600 MT). Corn: Net sales of 325,500 MT for 2023/2024--a marketing-year low--were down 66 percent from the previous week and 72 percent from the prior 4-week average. Export shipments of 1,556,800 MT were down 5 percent...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.