EU deforestation rules could strengthen US soybean meal in European market
The EU Deforestation Regulation, rising South American prices and firmer European quotations could improve the competitiveness of US soybean meal. EU imports from the United States have already more than doubled to 547,500 tonnes in the 2025/26 marketing year.
Compliance becomes part of the price equation
The forthcoming application of the EU Deforestation Regulation could make US soybean meal more attractive to European importers, according to UkrAgroConsult. The regulation adds traceability and deforestation-related requirements to sourcing decisions, while rising prices for Argentine and Brazilian material are improving the relative competitiveness of US supplies.
The shift matters because Argentina and Brazil remain the leading soybean meal exporters serving international feed markets. US volumes entering the European Union are still substantially smaller, but buyers assessing price, availability and regulatory compliance may have more reason to diversify their supplier base.
South American prices rise
Platts assessed Argentine soybean meal for October delivery at $404.10 per tonne FOB Up River on September 3, up 4.6% from the previous week. At the Brazilian port of Paranaguá, the price reached $414.02 per tonne FOB, a weekly increase of 3.6%. Those gains narrow the price advantage traditionally associated with South American origins and create room for alternative suppliers.
European quotations were also firmer. On September 4, soybean meal in the Netherlands was priced at €400 per tonne FOB, while the Spanish quotation reached €403 per tonne EXW. Both prices increased by €18 per tonne over the week, indicating that European feed buyers are operating in a market where replacement costs are rising across several origins.
The scale of South American supply nevertheless remains difficult to challenge. S&P Global Energy CERA expects Argentina to export about 29.5 million tonnes of soybean meal in the 2025/26 marketing year, virtually unchanged from the previous season. Brazilian exports are forecast at 27 million tonnes, an increase of 4.2% year on year. These volumes give South American crushers and traders a central role in global price formation and contract availability.
EU purchases from the United States accelerate
The European Union has already sharply increased its purchases of US soybean meal. Imports reached 547,500 tonnes in the 2025/26 marketing year, compared with 251,500 tonnes in 2024/25, representing an increase of more than twofold. Although the absolute volume remains well below supplies available from Argentina and Brazil, the growth shows that US exporters are gaining access to additional European demand.
The EU could import about 7.7 million tonnes of soybean meal in total during the fourth quarter of 2026, according to S&P Global Energy CERA. Even a limited redistribution of that demand would represent a meaningful commercial opportunity for US crushers, exporters and logistics providers. For European feed manufacturers, a larger US share could broaden procurement options at a time of higher prices and tighter documentation requirements. The eventual trade impact will depend on delivered costs and the ability of each origin to provide the information needed by buyers under the EUDR.
