and Product Trade 1998/99
Outlook for Selected Markets
Demand prospects for U.S. soybeans and soybean meal have slowed, with exports projected to drop in 1998/99. Consumption and imports in several Asian markets are forecast to fall while exporter competition remains strong, particularly in the first half of 1998/99. Full year export declines will be moderated by expected production declines in South America next spring. In European and Latin American markets, sharply lower soybean meal prices and feeding of more high-protein-consuming animal units are raising use of soybean meal. China is expected to remain a large user and importer of protein feeds, although meal use growth is forecast to slow to only 2 percent.
For more information, you may contact the author, George Douvelis, at (202) 720-2494.