USSEC China successfully conducted the annual U.S. Soy Market Outlook Conference in Shanghai, one of the major soy trading centers in China. More than 100 importers, traders, crushers, feed millers and animal integrators from all over the country participated in this conference on November 16, which was fully funded this year by the North Dakota Soybean Council.
2015 marks the seventeenth year the U.S. soybean industry has conducted such an event for Chinese customers, who value such an opportunity to interact with U.S. grower leaders and market specialists to learn more information on U.S. Soy’s crop quality, market situation and price trend.
“We trust U.S. soybean growers and the industry as they have been providing not only the latest information on U.S. soybean crops through such an event, but also objective and impartial market opinions,” said one participant to the U.S. grower leaders and USSEC staff.
American Soybean Association (ASA) director Dave Poppens, a soy farmer from South Dakota, made a presentation on this year’s crop situation in the U.S. and his strategies in managing the risks in his farm operation. United Soybean Board (USB) director Dan Farney, a soy farmer from Illinois, also gave a presentation on U.S. sustainability in soy production.
For the first time, USSEC staged a grower panel discussion during this conference and Mr. Poppens and Mr. Farney were joined by two North Dakota grower leaders, Vanessa Kummer, former USB chairman, and ASA director Monte Peterson, to interact with customers on numerous topics such as selling strategies given current lower prices, production cost, farm operations, and their planting perspectives for next year.
In addition to the grower panel, USSEC also provided a crop quality summary presented by USSEC Regional Director - North Asia Paul Burke, a China macro economic situation outlook, and a meal market outlook presented by two local consultants, which were all well received by the participants. USSEC member company CGB sent their containerized soybean merchandiser to the event to introduce the business and company as they are exploring the potential to grow their business in China.
USSEC Country Director - China Zhang Xiaoping wrapped up the conference by presenting a soy trade summary to the audience. Based on such information, USSEC identified China’s top ten buyers and top loyalty buyers of U.S. soybeans who received awards from the U.S. soybean grower leaders.
Before this annual event, Ms. Kummer and Mr. Peterson traveled to Guangzhou on Nov. 11 to attend the 10^th China International Oils and Oilseeds Conference organized by Dalian Commodity Exchange (DCE), a long-time partner to the U.S. Soy industry, to promote U.S. Soy and soy products among soybean importers, traders and feed millers.
Ms. Kummer was invited to join a panel discussion to talk about U.S. Soy production and provide a grower’s perspective on the current market situation, and Mr. Peterson led a private meeting with DCE top management during the conference on strengthening the partnership with each other to further promote U.S. Soy.
Escorted by USSEC China staff, Ms. Kummer and Mr. Peterson also traveled to Beijing on Nov. 13 to attend the 3^rd China Food Security and Safety Strategy Summit organized by a major think tank to China’s top leaders on agricultural policy, the Development Research Center of the State Council. Grower leaders interacted with the participants on policy issues, specifically, the recent biotech approval delays in China that are affecting the commercialization of new biotech events.
Grower leaders’ participation and involvement in these important events have demonstrated the long-time commitments the U.S. Soy industry has made to supplying China’s increasing demand for soy, and has strengthened the partnership with Chinese industries to help achieve China’s goal in food security, food safety and sustainable soybean supply.