MANHATTAN, KANSAS, U.S. – Potential grain buyers came to Kansas State University’s IGP Institute to discuss the U.S. soybean industry as part of the U.S. Soybean Export Council (USSEC) Southeast Asia Trade Team. Eleven participants from Indonesia, the Philippines and Thailand came to learn about marketing strategies and other production elements during the week of Aug. 24-31.
“Through the course we had an opportunity to take a closer look at the U.S. supply chain, its processing, and its marketing structure,” said Guy Allen, senior agricultural economist at the IGP Institute. “We also discussed in detail market activity over the last six months.”
Under the direction of Allen, participants heard several presentations on an array of topics, including grain standards and production practices, trading and hedging, and exporting practices within the United States.
Participant Evelyn Chai Chua-Fong, chief financial officer at Apena Food Products, Philippines, used the course information to learn more about obtaining raw materials within the soybean industry.
“I wanted to be more acquainted and less intimidated by how the whole process works and the elements involved,” Chai Chua-Fong said.
In addition to the classroom instruction, participants were taken on numerous tours on and off campus, including the Bioprocessing & Industrial Value Added Products Innovation Center, the Cargill Grain Terminal in Topeka, Kansas, U.S., the Federal Grain Inspection Service Technical Center in Kansas City, Missouri, U.S., as well as a tour of Bob Hazelwood’s soybean farm outside of Berryton, Kansas, U.S.
“Overall I thought this week was a success,” Allen said. “It was great to be able to meet these individuals and be able to give them a thorough glimpse of the soybean industry and markets in the U.S.”