Product details

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Abstract

Soybean was a type of legume that was initially domesticated more than 3000 years ago in the North-Eastern region of China. Gradually, the soybean had become a global commodity, with 170 countries engaging in trading of this crop worldwide in 2017. In this context, the US had possessed one of the major soybean markets in the world. The commercial contribution of soybean market to the US economy had been increasing day by day, thereby registering an export revenue of around USD26.4 billion by 2021. However, the US soybean farmers had been losing their competitive edge in the global agriculture markets as the Brazilian production had increased substantially. Moreover, the geopolitical tensions had led China to make deeper association with Brazil and thus minimised its dependence on the US. Furthermore, in 2023, the production of the US crops had come down due to the dry and hot weather. Despite those challenges, the US soybean market was estimated to grow in 2023-24. With this backdrop, would the US soybean market be able to withstand competition and grow amidst challenges?

Teaching and learning

This item is suitable for undergraduate, postgraduate and executive education courses.

Time period

The events covered by this case took place in 2024.

Geographical setting

Region:
Americas
Countries:
United States; Argentina; Brazil

About

Abstract

Soybean was a type of legume that was initially domesticated more than 3000 years ago in the North-Eastern region of China. Gradually, the soybean had become a global commodity, with 170 countries engaging in trading of this crop worldwide in 2017. In this context, the US had possessed one of the major soybean markets in the world. The commercial contribution of soybean market to the US economy had been increasing day by day, thereby registering an export revenue of around USD26.4 billion by 2021. However, the US soybean farmers had been losing their competitive edge in the global agriculture markets as the Brazilian production had increased substantially. Moreover, the geopolitical tensions had led China to make deeper association with Brazil and thus minimised its dependence on the US. Furthermore, in 2023, the production of the US crops had come down due to the dry and hot weather. Despite those challenges, the US soybean market was estimated to grow in 2023-24. With this backdrop, would the US soybean market be able to withstand competition and grow amidst challenges?

Teaching and learning

This item is suitable for undergraduate, postgraduate and executive education courses.

Settings

Time period

The events covered by this case took place in 2024.

Geographical setting

Region:
Americas
Countries:
United States; Argentina; Brazil

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