China’s State Council has approved the National Resource Defense Council’s (NRDC’s) proposed 2016 soybean target price of RMB 4,800/MT ($732.50/MT), which was based on two specific factors. Oilseeds Soymeal Inventories Hold Steady After a month of steady increases, China’s estimated soymeal inventories finished the week at 1.17 MMT, unchanged from the previous week and down 40,000 MT compared with a year ago. According to our surveys, they did rise to 182,400 MT (+32.84 percent) in Guangdong and 126,100 MT (+7.79 percent) in Fujian. Meanwhile, those inventories in north and northeast China grew to 136,400 MT (+15.97 percent) and 122,000 MT (+1.22 percent), respectively. However, they did decline in other provinces. Provided the April for...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
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.