Soybean planting area will not be greatly improved (12.14)

We hope that the EU will ban the use of meat and bone meal feed for a long time, because it will bring considerable profits to the soybean industry in the United States In general, the EU uses 3 million tons of meat and bone meal every year The ban will come into effect in January 2001 Therefore, it is necessary to find a feed to provide protein instead of meat and bone meal The alternative feed must contain protein Among them, fish meal is too expensive; oilseeds are cheaper So soybean is the most suitable substitute But soybeans are hard to survive in Europe So importing soybeans is the only EU measure Of course, it is obviously unrealistic to point out clearly how much impact the EU policy adjustment has on the soybean industry in the United States However, analysts say the EU's soybean demand will increase by 25% from the current EU imports of 220 million bushels of us soybeans However, due to the relative oversupply of soybeans in the past 20 years, the price of soybeans remained at the lowest price in history as of the previous few days Therefore, even if the demand of EU will expand, the soybean planting area will not be greatly improved In addition, the genetically modified problem has also hindered the export of soybeans from the United States Nearly half of American soybeans are grown by transgenic technology In the past two years, it has been legal for soybeans to be imported into the EU But this year, once the meat and bone meal is banned, the export of genetically modified soybeans in the United States is more or less limited.