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A bright spot in soybean exports

U.S. soybean exports to Europe, the Middle East, and North Africa have increased 140 million bushels compared with the last marketing year at this time. The U.S. Soybean Export Council called the markets “a bright spot,” as the data represents a 210 percent increase in whole soybeans and a 17 percent increase in soybean meal exports for the U.S. Soy industry.

The U.S. Soybean Export Council recently held a major regional U.S. Soy Trade Exchange in Spain, attended by 300 participants, which increased focus in other key markets in the region. Countries with largest bushel increases this marketing year include Egypt at 30 million, Spain at 23 million, the Netherlands at 15 million, Italy at 12 million, and Portugal at 10 million. The data shows a shift in demand for U.S. soybeans as the U.S. tries to work out details to end a trade war with China.