Soybean output up in Europe, but fall off in demand predicted for non-GM meal
Soybean
Soybean Meal
Published Nov 27, 2021
Tridge summary
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).
Original content
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 currently unclear whether the non-GM quota is still 50% or less than in previous years, added Matthias Krön, chairman, Donau Soja. Germany and Austria are also expected to see a jump in soybean production this year, finds the market outlook. Prices for European non-GM beans have peaked; they are now softening, as per data in that report. But soymeal activity has remained very quiet in the last four weeks, due to what Donau Soja termed “the low profitability” of the ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.