U.S. soybeans may now be used for biofuel in the European Union. Governor Kim Reynolds calls it great news for Iowa soybean farmers.
The United States has been exporting soybeans to the European Union for animal feed, but the soybean oil byproduct had been shipped back to the U.S. because Europe does not allow it to be used for fuel. The new rule changes that.
The announcement is part of on-going trade talks between the Trump Administration and the European Commission. Governor Reynolds says she’s hoping this announcement leads to more breakthroughs in trade talks elsewhere.