Export Sales and Shipments for December 29, 2023 – January 4, 2024. Wheat: Net sales of 128,100 metric tons (MT) for 2023/2024 were down 3 percent from the previous week and 77 percent from the prior 4-week average. Export shipments of 585,600 MT--a marketing-year high--were up noticeably from the previous week and up 87 percent from the prior 4-week average. The destinations were primarily to China (236,900 MT), the Philippines (122,800 MT), Mexico (64,100 MT), Bangladesh (58,100 MT), and South Korea (24,100 MT). Corn: Net sales of 487,600 MT for 2023/2024 were up 33 percent from the previous week, but down 52 percent from the prior 4-week average. Export shipments of 1,037,100 MT were up 52 percent from the previous we...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
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.