Export Sales and Summary for September 8-14, 2023 Wheat: Net sales of 307,700 metric tons (MT) for 2023/2024 were down 30 percent from the previous week and 20 percent from the prior 4-week average. Export shipments of 296,000 MT were down 28 percent from the previous week and 17 percent from the prior 4-week average. The destinations were primarily to Indonesia (108,300 MT), Mexico (86,700 MT), Vietnam (32,200 MT), Honduras (24,500 MT), and the Philippines (23,000 MT). Corn: Net sales of 566,900 MT for 2023/2024 primarily for Japan (197,300 MT, including 72,900 MT switched from unknown destinations), Mexico (131,700 MT, including decreases of 119,900 MT), China (71,200 MT, including 71,400 MT switched from unknown destination...
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
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.