USDA’s estimate for 2023/24 U.S. wheat is reduced stocks. All wheat production is projected at 1,659 million bushels, up modestly from last year on increased harvested area. However, the harvest-to-plant ratio is down from last year with above-average abandonment in Texas, Oklahoma, and Kansas. The average wheat yield, projected at 44.7 bushels per acre, is 1.8 bushels lower than last year. Exports are projected at 725 million bushels, 50 million lower than last year. Ending stocks are projected to be 11 percent lower than last year and the lowest in 16 years. The projected 2023/24 season-average farm price is $8.00 per bushel, down $0.85 from last year’s record. The global wheat outlo...
What You Need to Know Today: As was widely expected, the Federal Reserve raised interest rates by 25 basis points to a target range of 3.75–4.00 percent, its first rate increase since 2023, as policymakers respond to persistent inflation pressures. The Fed also signaled that additi...
Key Takeaways: USDA data access is equal; the ability to use it is not. Larger operations can afford experts who turn public reports into business decisions. Analytical capacity is the true advantage. Forecasts matter only when converted into profit, purchasing, and risk-management decisions...
Russian Grain Markets: 7–11 September 2026 During the first week of September, the Russian grain market remained volatile but predominantly bearish. Among the few commodities that continued to show a bullish trend was rye, which is in short supply this year and has few offers available. I...
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.