India Signs Pact for U.S. Soybean Oil and Who Buys U.S. Farmland

India Signs Pact for U.S. Soybean Oil and Who Buys U.S. Farmland

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**Traders from India signed contracts to import a record 100,000 tons of soy oil from the U.S.

Reuters says India made the buy because of limited supplies from drought-hit South America during a time when the price of rival palm oil is at record-high levels.

The increased purchases from the U.S. are expected to support U.S. soy oil prices which are 20% higher this year and close to their highest point in ten years.

**If you’ve ever wondered who is buying up US farmland, you’re not alone.

Typically, according to, farmers buy 70 to 80% of the good farmland that comes up for sale in the grainbelt states.

Local and out of the area investors buy another 20% of the farmland that is sold leaving a small percentage purchased by others including institutional or corporate buyers in states where allowed.

**The American preference for fresh foods year-round will drive a $100 billion increase in food and ag IMPORTS in the years ahead.

USDA economists tell, as soon as 2023, the U.S. would begin running ever-larger deficits in agricultural trade, despite exports that are forecast to be the highest ever this year.

They forecast imports to rise by an average 6% a year, far faster than the 0.8% a year increase in exports in the decade ahead.

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