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EU may extend zero import duties

Reuters / The European Union’s cereals management committee will vote Nov. 8 on whether to extend the suspension of the bloc’s import duties on feed wheat and barley until the end of June 2013, a draft regulation showed.

In June, the European Union suspended its import duties of 12 euros per tonne for low- and medium-quality wheat and 16 euros a tonne for feed barley until the end of this calendar year, in response to high grain prices.

With poor grain harvests this year in the United States and parts of Europe keeping prices high, sources close to the committee said the proposal from the European Commission to extend the zero duties is likely to be approved.

Complaints spur resumption of USDA soyoil forecasts

The USDA will resume monthly forecasts this month of soybean oil used for biodiesel production.

Budget cuts halted the forecasts six months ago, sparking complaints from traders.

Soyoil is the largest feedstock for biodiesel, accounting for half of production. One-fifth of U.S. soyoil went to biodiesel refining in the marketing year that ended on Sept. 30.

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