European Union to Purchase U.S. Soybeans for Biofuel Production

The European Union has approved U.S. soybean exports to be used in the production of biofuels. It's an effort to boost these imports following last summer's Trans-Atlantic meeting between President Trump and his E.U. Commission counterpart. The summit meeting was able to stave off a tariff war on industrial goods like cars, but the E.U. Commission president made a commitment to buy more U.S. soybeans. 

Sales have doubled since, but mostly because of market forces. Tuesday's approval that U.S. soybeans can be used for biofuel could boost sales even more.
    
E.U. Commission spokesman Margaritis Schinas says "today's decision is new proof that the EU is delivering ... this means that as of today it will be easier for U.S. soybeans to enter the E.U. market."
 

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