China Sells 83 Percent of Soybean Reserve Stock Offering China's Sinograins sold 417,448 MT of soybeans today from its reserve stocks, which amounted to 82.95 percent of the soybeans offered for sale from the reserve. The average price received was equivalent to $670/MT ($18.23/bushel). The stocks were sold to inland crushers that do not process imported soybeans and food companies. The soybeans sold were produced in 2009 and 2010.Since China began offering soybeans for sale from the reserve, it has sold 1.287 MMT. The average price received from the stocks was 4019 yuan/MT ($661.61/MT or $18.01/bushel). China holds about 8 MMT of soybeans in its reserve stocks and the general view is that it plans on selling about 1.5 MMT of that. How...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
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.