U.S. soybean sales to the European Union have risen sharply. The European Commission says in the last five months, 3.7 million metric tons of U.S. beans have gone to the EU, which is more than double from July through November in 2017 and about 70% of total EU soybean purchases.
The U.S. is now the EU’s biggest soybean supplier since Brazil is sending most of its crop to China. Almost 30% of U.S. soybean sales are to the EU.
The European Union’s Ag Commissioner says the EU only grows about 5% of what it needs because of market and climate factors, and demand is growing.