EU Soybean import from the US: the boom continues

Global Soybean production for the 2018-19 season is estimated at the record level of 360.1 Mio Tons, although slightly down (-0.3%) compared to last month forecast, reflecting a lower production decline expected in Brazil (-0.5 Mio Tons), given the dry weather conditions and the lower yields in the States of Minas Gerais, Mato Grosso do Sul and Goias.

U.S. Soybean production is expected at 123.7 Mio Tons. Soybean oil used for biodiesel is raised on record production for the first quarter of the marketing year. - Global Soybean Production, Utilization and Stocks – Global Soybean Production, Utilization and Stocks

European Union and China are the top destinations of US Soybean. With the entry into force of Chinese duties in July 2018, US exports to China dropped and recorded 8.3 Mio Tons in 2018 (-69% from 2017).

EU Soy import
from the U.S.1,25Mio TonsJan 2019 y-o-y

The agreement between Juncker and Trump in July 2018 supported US Soybean export to the European Union: +61% in 2018 compared to 2017, equal to 7.7 Mio Tons (51% of EU total Soybean import). The Netherlands and Spain are the main European buyers. Italy also significantly increased Soybean purchases from the US, for a total of 663,100 tons. Brazil is the second EU Soybean supplier, which imported 5.4 Mio Tons in 2018 (+7% compared to 2017).

The first data for 2019, relating to January, confirm the boom in European soybean imports from the US: 1.25 Mio Tons, +184% compared to January 2018, at an average CIF price of € 321.30 / ton. - US Soybean export – US Soybean export - EU Soybean import – EU Soybean import

Soybean Report - March 2019
TESEO-SOY-Report-March-2019.pdf (3 MB)
Soybean Report - March 2019


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The team is composed of young people who with the help of Computer Science study the dairy market and develop tools to provide the Operators of the dairy sector with a comprehensive real-time view of the national and international market trends.

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Posted in EU, South America, Soy, UE, United States