US takes lion's share of EU soybean imports

The US has become Europe's main supplier of soybeans, supplying a 52% share compared to 25% in the same period last year.

This puts the US ahead of Brazil (40%), followed by Canada (2.3%).

Since China placed 25% retaliatory tariffs on US products in July, it has been amping up its Brazilian imports. On the other hand, US producers are diverting soybeans to Europe.

This trend has previously been forecast by dry bulk transporters, including Eagle Bulk chief executive Gary Vogel.

EU imports of soybeans from the US rose 133% at 1,473,749 tonnes this year compared to the first 12 weeks of the 2017 marketing year, from July to mid-September.

Jean-Claude Juncker, president of the European Commission, and US President Donald Trump had agreed to improve bilateral trade relations, notably in soybeans, following a meeting in Washington on 25 July.