Export Sales and Shipments for December 1-7, 2023 Wheat: Net sales of 1,490,500 metric tons (MT) for 2023/2024--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. Export shipments of 289,600 MT were up 46 percent from the previous week and 1 percent from the prior 4-week average. The destinations were primarily to Japan (79,800 MT), Mexico (50,100 MT), the Philippines (46,600 MT), Thailand (27,700 MT, including 27, 400 MT - late), and Italy (23,400 MT). Corn: Net sales of 1,418,600 MT for 2023/2024 were up 10 percent from the previous week, but down 12 percent from the prior 4-week average. Export shipments of 851,000 MT were down 22 percent from the previous week, but up 18 per...
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.