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Nearly 70% of EU soybeans now come from the U.S.

U.S. soybean sales to the European Union have risen sharply.  The European Commission says in the last five months, 3-point-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.