U.S. soybean exports to EU quadruple, could continue to rise - Entrepreneur Generations

The European Union nearly quadrupled soybean imports from the United States in the latter half of 2018, according to a Jan. 7 announcement from the European Commission saying that imports totaled 5.2 million tonnes from July-December 2018, up 112 percent from the same period a year before, Eric Schroeder reports for World Grain. An EC spokesperson said American soybean imports will likely continue to increase since U.S. soybeans may soon be approved for use in biofuels.

However, the spokesperson said the increase was due to market forces, and wasn't a political decision stemming from trade talks with the U.S. "Market analysts said the surge was caused by plunging prices in June, as China largely stopped buying U.S. soybeans in retaliation for trade measures that Trump has targeted at Beijing," Robert-Jan Bartunek reports for Reuters. The EU gets most of its soybeans from Brazil and about a third from the U.S., about 14 million tonnes per year.

EU Trade Commissioner Cecilia Malmström said today that agriculture will not be discussed in upcoming trade talks between the U.S. and the EU, Chris Prentice reports for Reuters.

from The Rural Blog http://bit.ly/2sjTtF0 U.S. soybean exports to EU quadruple, could continue to rise - Entrepreneur Generations

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