Export Sales and Shipments for September 1-7, 2023 Wheat: Net sales of 437,900 metric tons (MT) for 2023/2024 were up 18 percent from the previous week and 20 percent from the prior 4-week average. Export shipments of 411,300 MT were up 30 percent from the previous week and 32 percent from the prior 4-week average. The destinations were primarily to Japan (87,300 MT), Mexico (75,200 MT), Vietnam (65,300 MT), the Philippines (58,200 MT), and China (56,000 MT). Corn: Net sales of 753,300 MT for 2023/2024 primarily for China (173,900 MT, including 165,000 MT switched from unknown destinations and decreases of 900 MT), Colombia (147,400 MT, including 50,000 MT switched from unknown destinations and decreases of 33,900 MT), Mexico...
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
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.