Export Sales and Shipments for June 9-15, 2023 Wheat: Net sales of 109,700 metric tons (MT) for 2023/2024, were offset by reductions for the Philippines (20,700 MT), unknown destinations (13,000 MT), and Honduras (8,300 MT). Export shipments of 155,900 MT were primarily to Ecuador (33,000 MT), South Korea (28,900 MT), Panama (26,300 MT), Mexico (21,100 MT), and Taiwan (19,300 MT). Corn: Net sales of 36,000 MT for 2022/2023 were down 87 percent from the previous week and 74 percent from the prior 4-week average. Export shipments of 668,300 MT were down 44 percent from the previous week and 50 percent from the prior 4-week average. The destinations were primarily to Mexico (283,500 MT), China (179,100 MT), Japan (150,900 M...
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...
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.