EU Soybean Imports Forecast by Oil World to Rise to Six-Year High
Oil World predicts EU soybean imports will reach their highest level in six years totaling 13.9 million metric tons for the year through August compared to imports of 13.3 million tons the previous year. Crushing will rise to 13.5 million tons from 13.24 million tons the year before. EU imports of soybeans for the January to June period are forecast to reach 7.6 million tons – 500,000 tons more than a year earlier. This increase in imports will be exclusively from South America as shipments from the U.S., Canada, and Ukraine will be declining. The total EU crush of 10 oilseeds is predicted to increase to a record 44.8 million tons in the year through September 2014 – increasing 1.6 million tons above the previous season.
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