Lower prices, brisk sales point to record soymeal exports

Strong demand in the opening weeks of the marketing year and lower market prices are forecast to result in record exports of U.S. soybean meal, said USDA. It estimated sales of 12.8 million short tons, up 10 percent from 2013/14. “Lower soybean meal prices, down nearly 20 percent from last year, have spurred additional sales, particularly to Southeast Asia and Mexico. Expected weak Indian meal exports and limited crush expansion in Argentina due to slower producer selling are also boosting U.S. sales,” said the monthly Oilseeds: World Markets and Trade report.

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