Heading into the October WASDE that will be published on Thursday, 12 October, WPI offers the following assessment of supply and demand expectations for the 2023/24 crop year. Corn Compared to the USDA’ September WASDE, WPI’s 2023/24 U.S. corn outlook calls for slightly larger supplies, larger demand, and smaller ending stocks. WPI has adjusted our expectations of 2023/24 carry-in to reflect the Grain Stocks figures, which pulled beginning stocks 6 percent below the USDA’s September WASDE forecast. Based on the favorable weather and conditions expected for October, we’ve revised our harvested acreage forecast higher to be in-line with UDSA’s estimate. Based on early yield results and estima...
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
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.