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In the first quarter of 2021, U.S. soybean exports reached the second-highest value ever at $7.7 billion, nearly double the same period last year.
A package of export restricting measures aimed at the oilseeds market is expected to dampen the trend of increasing oilseed production in Russia.
The Russian Federation recently extended the waiver on a previously established ban of imports of some GE soybeans and soybean meal without state registration to January 1, 2022.