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Valuation of the quality characteristics of Japanese soybean imports

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The implicit prices of the physical and intrinsic characteristics of soybeans exported by the United States are estimated. The results suggest that the US grades and standards assigned to a shipment either do not provide information valued by the market or the existence of US grades and standards has resulted in the definition of a standard of quality that is met by all exporters. Additionally, in Japan there are two identifiable soybean markets - a premium food bean market and a crushing market. The soybeans going into the food market for processing can be identified by their lower oil content, lower percentage of split and damaged beans, and a lower amount of foreign material, as well as smaller shipment sizes.

Document Type: Research Article


Publication date: July 1, 1996

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