Last week the U.S. Soybean Export Council held their Global Trade Exchange Meeting in Chicago. American Soybean Association Board member Kevin Scott says they heard from several hundred countries interested in purchasing soybeans.
He says with the loss of the Chinese market, ASA and USSEC are working with several countries to open alternative markets.
Scott says there were several presentations made by potential customers who want to buy U.S. soy products in a non-traditional way.
Scott says although they’re seeking additional markets, they know they won’t be able to make up for all the lost trade with China. He says part of that is due to their cases of African Swine Fever, which has lowered the demand for soybean meal as feed.
