Smaller US planting and eco fuel demand boost soya bean market
December 23, 2007
Dec 26, 2007 -- /prbuzz/ --Global investment banks are set to record income from fees from their debt, equity and mergers and acquisitions business, new research shows.

The market for soya beans rose to its highest level since 1973 this week,based on the expectation that recently passed US legislation will boost demand for fuel made from alternative sources.

Farmers in the US planted less soya beans this year, shifting production to corn, but the world is demanding more to make into animal feed and 'eco' fuels.

However, India is exporting record amounts of soya bean meal for animal feed and has produced over half of its targeted 4.5 million tonnes only three months into the 12 month recording period, an industry spokesman has said.

"Indian soybean meal continues to be in great demand from buyers in China, Europe and south-east Asia," Rajesh Agrawal of the Soybean Processors Association of India explained to the Khaleej Times.

He noted that European traders have agreed to purchase up to 100,000 tonnes of soybean meal and Chinese firms are also seeking new orders because freight costs are currently lower.

Further analysis of the soya bean commodities market could be supplied by Aranca, an end-to-end provider of on-demand, custom investment, business and economic research.

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London, Friday, December 21, 2007 -- ARANCA NEWSTRACK – (aranca)


 
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