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December 9, 2008

 

EU approves US Monsanto GM soy import
 
 

EU has granted approval to imports of a genetically modified (GM) soy variety developed by US Monsanto for sale in its 27 national markets in the coming 10 years.

 

The soy is used for food and animal feed, a second generation GM product known by code number MON 89788 and commercially as Roundup RReady2Yield. This variety is able to withstand the presence of glyphosate Roundup Ready herbicides and bring about increased yields for farmers.

 

The European Commission automatically approves GM varieties if a company is unable to get approval or rejection from the EU. However, the approved GM soy will be subject to the EU's strict labeling and traceability rules.

 

Soymeal is the main source of protein for the EU animal feed market, producing more than 60 percent of vegetable protein.

 

U.S. & South America Soybean/Products Balance

 

United States 

Argentina

Brazil

Actual

Estimate

Proj.

Actual

Estimate

Proj.

Actual

Estimate

Proj.

2006/07

2007/08

2008/09

2006/07

2007/08

2008/09

2006/07

2007/08

2008/09

Soybeans

thousand tonnes

 Carryin

12,229

15,617

3,811

334

1,876

680

2,252

3,110

3,235

 Production

86,770

70,358

79,848

48,800

46,500

50,500

59,000

61,000

62,500

 Imports

246

272

272

2,336

3,325

3,450

108

150

160

 Crush

49,198

49,396

48,580

35,962

36,400

37,890

31,511

32,400

32,500

 Exports

30,428

31,434

27,216

12,132

13,100

14,100

23,805

25,650

27,500

 Other

4,002

1,606

4,469

1,500

1,521

1,550

2,934

2,975

3,025

 Usage

83,628

82,436

80,265

49,594

51,021

53,540

58,250

61,025

63,025

   Carryout

15,617

3,811

3,666

1,876

680

1,090

3,110

3,235

2,870

Soymeal

thousand tonnes

 Carryin

285

314

272

2,003

1,144

1,610

863

1,563

2,263

 Production

39,058

39,022

38,469

27,856

28,621

29,745

24,420

25,130

25,190

 Domestic use

31,184

30,618

30,844

617

640

696

11,520

12,155

12,550

 Net Exports

7,845

8,446

7,652

28,098

27,515

29,000

12,200

12,275

12,970

 Usage

39,029

39,064

38,496

28,715

28,155

29,696

23,720

24,430

25,520

   Carryout

314

272

245

1,144

1,610

1,659

1,563

2,263

1,933

Soybean oil

thousand tonnes

 Carryin

1,365

1,399

1,195

487

310

331

300

341

336

 Production

9,294

9,498

9,231

6,917

6,958

7,245

6,050

6,220

6,240

 Domestic use

8,420

8,368

8,324

580

995

1,170

3,550

3,895

4,048

 Net exports

840

1,334

1,043

6,514

5,942

6,035

2,459

2,330

2,190

 Usage

9,260

9,702

9,367

7,094

6,937

7,205

6,009

6,225

6,238

   Carryout

1,399

1,195

1,059

310

331

371

341

336

338

 

USDA Export Sales (tmt) - Week of 26 November 2008

Country

Commodity

New Sales

Accum. Exports

 

Country

Commodity

New Sales

Accum. Exports

China

Soybeans

298.10

5442.60

 

Japan

Soymeal

1.00

22.90

Colombia

Soybeans

3.40

34.30

 

Mexico

Soymeal

14.50

282.20

Japan

Soybeans

8.70

610.40

 

Morocco

Soymeal

5.50

14.80

Korea, Rep.

Soybeans

8.40

114.70

 

Philippines

Soymeal

2.60

43.00

Mexico

Soybeans

52.40

749.70

 

Thailand

Soymeal

5.60

44.90

Morocco

Soybeans

29.90

30.60

 

Trinidad

Soymeal

1.70

4.90

Netherlands

Soybeans

62.80

312.90

 

Turkey

Soymeal

0.60

21.80

Philippines

Soybeans

1.20

5.30

 

Venezuela

Soymeal

20.50

96.30

Taiwan

Soybeans

6.20

479.40

 

Canada

Soyoil

0.50

6.00

Turkey

Soybeans

10.30

162.70

 

Japan

Soyoil

0.40

0.30

Venezuela

Soybeans

14.20

6.00

 

Salvador

Soyoil

0.90

2.80

Vietnam

Soybeans

2.50

8.60

 

 

 

 

 

Canada

Soymeal

7.80

169.10

 

 

 

 

 

Colombia

Soymeal

1.00

23.40

 

Export Sales Totals (tmt)

Costa Rica

Soymeal

3.50

7.40

 

Commodity

Outstanding Sales

Accum. Exports

New Sales

Dom. Rep.

Soymeal

12.90

46.00

 

Soybeans

8,026.20

9,526.90

359.70

Ecuador

Soymeal

33.60

27.50

 

Soymeal

1,665.80

1,166.50

106.00

FW Ind.

Soymeal

2.30

27.50

 

Soyoil

134.60

72.10

2.70


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