USSEC’s Soy Trade Price Risk Management Training is Valued by Chinese Soybean Importers
- General News
USSEC conducted the 12th U.S. Soy Trade Price Risk Management Training from August 7-8 in Xiamen, Fujian Province, China. A total of 50 risk managers from soybean crushing plants, feed integrators and soybean importing companies from all over China received this training, which has been very much valued by Chinese soy importers.
This year’s training was provided by Jay O’Neil, Senior Agricultural Economist at Kansas State University’s International Grains Program (IGP) and Sue Goll, a Chicago risk management training consultant. American Soybean Association (ASA) Director Dave Poppens gave a presentation about his farm operations and the risk management tools that he and other U.S. soy farmers use.
This activity provided not only an overview of the basics about futures and futures options, but also simulated, hands-on practices for the audience to enhance their knowledge and skills of price risk management tools and economic effects. The evaluation and discussion of strategies used during different pricing stages were regarded as extremely valuable by the audience. In addition, Mr. Poppens conducted an informative discussion on farming practice and risk management strategies from a soy farmer’s perspective, focusing on crop production cost, marketing strategies, and crop insurance.
For many years, this program has received strong support from the CME Group and the Chicago Board of Trade (CBOT) who have recommended professional trainers and training materials. Tina Liao, Director of Singapore-based Client Development & Sales, also traveled to this event and provided assistance in educating the audience on futures and options basics.
Prior to the training course in Xiamen, Mr. Poppens and the U.S. risk management consultants provided one-on-one consultations to purchasing and risk management teams at the Bohi Group, Yuanyao Feed, Kanghong Enterprise and Yuancheng Soybean Processing in Shanghai and Fujian Province from August 4-6 to provide tailored recommendations of risk management strategies for their purchase of U.S. soybeans.
USSEC China Country Director Zhang Xiaoping, Marketing Manager Claudia Chong and Marketing Program Assistant Yantian Zeng organized the program and Animal Utilization Technical Director Richard Han also joined the team to escort Mr. Poppens and the consultants as well as the one-on-one consultations for selected customers on this trip.