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Post forecasts the 2016/17 soybean production at a record 101 million metric tons. The export forecast for Marketing Year 2016/17 is 57 MMT despite the slower pace of commercialization.
EU farmers are expecting a sizeable grain crop of 292 million metric tons in marketing year 2013/14.
The EU is highly dependent on imports of oilseeds and oilseeds products (protein meals and vegetable oils) to meet demand for food, feed and industrial uses, including biofuels production.