13 December 2000
Export forecast boosts soya

By FWi staff

SOYA prices rose after the US Department of Agriculture increased export estimates on the crop following the EU decision to ban meat and bonemeal.

Soyabean meal futures rose on the Chicago Board of Trade with the January contract up 50 cents per ton to $190.30, reports the Financial Times.

The USDA says the MBM ban, introduced in an effort to eradicate BSE, would boost protein fed demand by 2m tonnes in 2000-2001.

It increased its November estimate for US soyabean exports from 950m bushels to 975m.