USDA’s projection for U.S wheat in the current 2023/24 season is total U.S. wheat production of 1,665 million bushels. This is a production level that is similar to the prior 2022/23 season's production of 1,650 and similar to the 2021/22 level of 1,646 million bushels. U.S. ending stocks of total wheat in the 2023/24 season are forcast to be 562 million busels, similar to the 2022/23 ending stocks total of 598 million bushels. The average farm price per bushel is projected to decline from $8.85 in 2022/23 to $7.70 per bushel in 2023/34. The decline in the seasonal average price of U.S. wheat from 2022/23 to 2023/24 is partly because of the modest increase in global ending stocks from 267 to 271 million metric tons.  ...
WPI recently completed an expansion of our methodology for estimating and forecasting U.S. and global soybean crushing margins. The new approach incorporates the energy market’s expanding influence on the oilseed sector and the structural changes in global biofuel demand. This report is i...
Reflect for a moment on what you eat. There is a lot of advice out there in the ether about what you should eat, but really, what do you currently eat and how much? The good people at the USDA have some data for you, to help you answer that question. USDA says that we eat quite a bit of meat. L...
Key Market Insights Macros: Inflation isn’t cooling — it’s moving higher again. March PCE inflation (Personal Consumption Expenditures index — the Fed’s preferred measure of inflation) rose 0.7 percent month-over-month, pushing the annual rate to 3.5 percent, the h...
An amendment to the U.S. House farm bill, aiming to remove the Save Our Bacon Act language in Section 12006 that would have stripped language to prohibit California’s Proposition 12, Massachusetts’ Question 3, and up to 500 state agricultural laws across the country, was blocked by...
From WPI Consulting
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.