China's Growing Soybean Imports Have Curtailed Rest of World's Imports The most important factor impacting the global soybean market in recent years has been China's seemingly insatiable demand. China's soybean imports have grown from 0.795 MMT in MY 1995/96 to 59 MMT in MY 2012/13 and are forecasted by USDA to increase to 69 MMT in MY 2013/14. USDA is forecasting that China will import 66 percent of all soybeans exported by all countries in MY 2013/14.It is also worth noting that China's soybean imports grew by 9.162 MMT from MY 2009/10 to MY 2012/13 when world imports grew by only 7.979 MMT. That means China's rising soybean imports have caused other countries or regions to import less because global stocks were tight. The reality is...
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.