Yesterday’s USDA report indicates that U.S soybean exporters and processors are going to have a large supply to work with in the year ahead, and one particular forecast could make that challenging if it is realized. 12 October USDA Reports’ Soy Sector Highlights Crop ProductionYesterday’s USDA crop production report was significant in that the forecast for the average U.S. soybean yield was raised by 0.8 bushels/ acre to 51.4 bushels/acre, another record high, with estimated production now at a record 4.269 billion bushels (116.19 MMT).Most significant was the increase in the average yield in Illinois from 60 bushels/acre to 61 bushels/acre and in Nebraska from 59 bushels/acre to 61 bushels/acre. Yields were also raised in Georgia, Illino...
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...
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Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.