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Demand for container shipping of US soybeans increasing in Asia

The demand for container shipping of US soybeans is going up in Asian countries.

Eric Woodie, a trade analyst with the Illinois Soybean Association, tells Brownfield there has been a 40% increase in container shipments to Asia since the 2014-15 marketing year, and he expects another 18% increase for this marketing year.

“They can buy the amount that they need for the timing they need and very often in a lot of these markets there are vessels scheduled that would allow for very consistent arrivals.”

Woodie said that could lead to soybean farmers loading shipping containers on or very near their farms for export.

“I think what that gives is some real transparency for the buyers and the sellers to be able to see where their beans are going and coming from.”

With many empty containers available in the Chicago area, he says, ISA is working to help farmers with the process to help expand market opportunities.

Woodie says the top buyers of container shipments of US soybeans are Indonesia, Thailand, Vietnam and Malaysia.