U.S. Soybean Meal Exports Continue to Soar
- General News
U.S. soybean meal exports are headed toward a record year. The latest United States Department of Agriculture (USDA) weekly report shows that outstanding sales plus accumulated shipments have reached 10 million metric tons (MMT) for the current marketing year, which ends in September.
Shipments to Europe continued to be strong this year. U.S. soybean meal was very competitive into Europe during the fall and winter seasons.
Exports to Southeast Asia gained significantly. U.S. soybean meal reentered Thailand with more than 300 MMT and another 200 MMT was added to the Philippines program. The competitive window lasted about 7 months. Shipments have continued to the Philippines where customer preference and commercial support have been outstanding.
Declines in northern Africa (Egypt -100, and Morocco -100) were likely the result of stronger demand from Europe. There was simply not enough U.S. meal to cover all interested markets during times of strong demand.