USDA’s October WASDE reduced 2022/23 U.S. wheat production based by 133 million bushels to 1,650 million. However, first quarter total disappearance is the lowest since 1983/84 - wheat exports are lowered 50 million bushels to 775 million. This would be the lowest U.S. wheat exports since 1971/72. The result is that U.S. ending stocks are projected to be 576 million, which would be the lowest since 2007/08. The season-average farm price is raised $0.20 per bushel to $9.20. The estimate for global wheat supplies was lowered 1.9 million tons to 1,057.7 million; The attached material show that ending stocks of global wheat are in decline for three years, but remain at comfortable levels. ...
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
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.