Russian ban will cut us demand for soybean meal and corn

Lead: March 13 (Reuters) - if Russia continues to ban chicken imports from the United States, as the main buyer of American chicken, then the demand for American soybean meal and corn will decline, which may lead to a drop in the prices of these agricultural products, analysts said on Monday Although Russia's ban on imports could lead to a reduction in U.S chicken production, food analysts say the trade dispute is too early to drive down the prices of corn and soybean meal, the feedstuff ingredients "We are on the sidelines," said an analyst at Cargill investor services It will take some time before the ban will have an effect on the food market " About half of American chicken exports are sold to Russia, which imported more than 1 million tons of American chicken in 2001 As the U.S poultry industry consumes more than 50% of the annual U.S soybean meal production, and consumes about 10% of the corn production, the decline in chicken production may affect the consumption of these feeds Russia banned U.S poultry, starting on Sunday, with an effective date of at least 60 days, due to the detection of Salmonella in U.S poultry U.S and Russian officials will meet in Mexico this week to discuss new import rules that will allow the use of antibiotics, preservatives and hormones Many U.S analysts hope to reach a deal with Russia before the U.S poultry industry is affected But others expect the poultry industry not to respond if this week's Moscow talks do not resolve the import ban A spokesman for the national chicken Council said that as of Monday, no chicken factory had announced that it would reduce chicken production "I think the company will remain as it is until they feel the impact," he said When this happened in 1996, they did not announce a reduction in production " "Chicken production is already under way in the next two months," he said But they can reduce the number of live chickens raised, if necessary " The ban on imports will have a big impact on the price of soybean meal, because a large proportion is consumed by the poultry industry The ban is likely to last for 60 days, with the Chicago futures market suffering too much on Monday Chicago soybean meal futures closed down 70 cents at $2 a tonne May contract fell $1 to $156.10 per ton Corn futures closed mostly higher, rising 1 * 1 / 4 cents to $2.09 * 1 / 2 / bushel in May (author:) share to feed Weibo share to: