US expects to import more soymeal
Decreasing U.S. soybean stocks have raised concern that soymeal for animal feed could also running low.
This will mean that more soymeal needs to be imported from South America. The most likely destination for any imported South American soymeal would be the U.S. East Coast, with eastern pig producers the most likely customers, traders said.
U.S. soymeal prices have been driven higher by concerns about shrinking old-crop soybean supplies. U.S. old-crop soybean stocks are projected to shrink to 130 million bushels by the end of the current marketing year on Aug. 31, according to the latest U.S. Agriculture Department data.
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