This summary is based on reports from exporters for the period September 29-October 5, 2023. Wheat: Net sales of 652,000 metric tons (MT) for 2023/2024--a marketing-year high--were up noticeably from the previous week and up 67 percent from the prior 4-week average. Export shipments of 342,500 MT were down 12 percent from the previous week and 18 percent from the prior 4-week average. The destinations were primarily to Mexico (146,800 MT), South Korea (83,600 MT), Yemen (52,400 MT), Japan (33,600 MT), and Guatemala (10,600 MT). Corn: Net sales of 910,400 MT for 2023/2024 were down 50 percent from the previous week and 9 percent from the prior 4-week average. Export shipments of 812,900 MT were up 33 percent from the previous 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.