World Perspectives
soy-oilseeds

Oilseed Highlights: Chinese Soy Subsidy; Soy Changes in WASDE; U.S. Soy Export Sales

China’s Heilongjiang Province Doubles Subsidy for Soybeans Heilongjiang Province, China’s top soybean and corn producer, has doubled its subsidy for growing soybeans to 320 yuan/mu ($330/acre or $815/hectare at the current exchange rate) as a way to boost production. To further encourage expanded soybean plantings in 2019 at the expense of the corn crop, the province reduced its subsidy for the latter from 134 yuan/mu to 25 yuan mu ($25.80/acre or $63.75/hectare). The province is following the lead of the central Chinese government, which wants to greatly increase soybean production to reduce reliance on imports, particularly from the U.S. This goal is a direct result of the current U.S.-China trade war. Interestingly, the su...

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Summary of Futures

May 19 Corn closed at $3.4675/bushel, down $0.045 from yesterday's close.  Jul 19 Wheat closed at $4.385/bushel, down $0.065 from yesterday's close.  May 19 Soybeans closed at $8.5525/bushel, down $0.0675 from yesterday's close.  May 19 Soymeal closed at $300.4/short ton, down $0...

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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.

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