USSEC’s High Impact program recently hosted a mini meeting in Bologna, Italy, as part of its series of European meetings with main soy players, feed compounders, importers, crushers and nutritionists to discuss quality, sustainability and the soybean meal market in the EU.

The Bologna meeting participants represented the Italian feed industry, as well as import and crushing enterprises.  The 18 attendees were comprised of feed compounders, traders and nutritionists.  The objective of the meeting was to educate participants about the advantages of U.S. soybean meal compared to meal from other origins and to introduce them to the U.S. Soy Sustainability Assurance Protocol.  USSEC consultant Lola Herrera provided an overview of USSEC and its mission, objectives and projects in Europe and around the world.  USSEC consultant Professor Gonzalo Mateos of the University of Spain gave a presentation discussing feed broilers’ formula and introducing the quality differentiation of soybean meal depending on origin.  USSEC consultant Dr. Jan van Eys of GANS, France, introduced the subject of sustainability and compared USSEC’s Sustainability Assurance Protocol to those that are attempting to be implemented in Europe but with poor results.  The Italian participants reported their surprise that no one has asked for their input on an EU sustainability protocol, considering that Italy produced the EU’s first soybeans.
The CME Group gave a presentation about the futures market and risk management tools. USSEC’s European customers are especially interested in this subject because the European market is volatile and they want to minimize risk.  Ms. Herrera talked about the soybean meal cash market and the differences between origin when comparing prices, qualities and service.  She also went over the changes that the market has suffered and the importance of being well-informed.  Attendees asked many questions about both quality and the soybean meal market.  Ms. Herrera explained that from October until February, U.S. soybean meal becomes the most competitive in price.
The Italian market appreciates the work that USSEC is doing and was grateful for the opportunity to learn more about the superior quality of U.S. soybean meal.