Wheat: Net sales of 475,700 metric tons for delivery in the 2018/2019 were up 59 percent from the previous week and 15 percent from the prior 4-week average. Increases were reported for Mexico (153,300 MT, including decreases of 3,100 MT), Japan (75,500 MT, including decreases of 200 MT), Indonesia (67,000 MT, including 7,000 MT switched from Malaysia), the Philippines (50,000 MT), and Uganda (44,000 MT, switched from unknown destinations). Reductions were primarily for unknown destinations (13,400 MT). For 2019/2020, net sales of 35,400 MT were primarily for Colombia (11,100 MT), the Dominican Republic (8,400 MT) and Japan (8,000 MT). Exports of 424,200 MT were up 19 percent from the previous week, but down 29...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.