Wheat: Net sales of 339,000 metric tons for 2018/2019 were down 22 percent from the previous week and 30 percent from the prior 4-week average. Corn: Net sales of 1,006,700 MT for 2018/2019 were reported for Mexico (354,600 MT, including 63,000 MT switched from unknown destinations and decreases of 22,200 MT), Japan (281,700 MT, including 35,400 MT switched from unknown destinations and decreases of 274,900 MT), South Korea (195,600 MT, including 186,000 MT switched from unknown destinations), Taiwan (166,900 MT, including decreases of 65,200 MT), and Colombia (108,700 MT, including 67,000 MT switched from unknown destinations). Reductions were reported for unknown destinations (267,100 MT) and th...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.