Soybean output up in Europe, but fall off in demand predicted for non-GM meal

Soybean production on the European continent is expected to be higher than 2020. At a forecast 9.4m tons for 2021, soybean output in the European region will be 4.5% above the previous year’s level, according to Donau Soja, in its market report for November. Average yield is estimated at 2.17 mt/ha in 2021, slightly lower compared to the last year’s result: 2.23 mt/ha. The biggest volume gains are expected in Ukraine (+530,000 mt) and (European) Russia (+163,000 mt). The largest European harvest, that in Ukraine, has been completed, with an official yield of 2.64 tons per hectare and a total production of 3.32m tons. Typically, that market represents one third of European soybean production. “The Donau Soja crop tour was more pessimistic with respect to yields [in Ukraine], but we will find out whether the final stocks are more in line with our estimates or those of the government by the end of the season.”​ Ukrainian non-GM exporters are still selling cautiously, and it is ...