Export Sales and Shipments for March 22-28, 2024. Wheat: Net sales of 16,100 metric tons (MT) for 2023/2024 were down 95 percent from the previous week and 89 percent from the prior 4-week average. Export shipments of 517,800 MT were up 27 percent from the previous week and from the prior 4-week average. The destinations were primarily to China (268,300 MT), Thailand (80,700 MT), the Philippines (36,700 MT), Mexico (36,200 MT), and Algeria (33,500 MT). Corn: Net sales of 948,000 MT for 2023/2024 were down 21 percent from the previous week and from the prior 4-week average. Export shipments of 1,641,400 MT--a marketing-year high--were up 33 percent from the previous week and 27 percent from the prior 4-week average. The destina...
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...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
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.