USDA’s October WASDE reduced 2022/23 U.S. wheat production based by 133 million bushels to 1,650 million. However, first quarter total disappearance is the lowest since 1983/84 - wheat exports are lowered 50 million bushels to 775 million. This would be the lowest U.S. wheat exports since 1971/72. The result is that U.S. ending stocks are projected to be 576 million, which would be the lowest since 2007/08. The season-average farm price is raised $0.20 per bushel to $9.20. The estimate for global wheat supplies was lowered 1.9 million tons to 1,057.7 million; The attached material show that ending stocks of global wheat are in decline for three years, but remain at comfortable levels. ...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.