China soy buyers ink billion dollar deal in Iowa

China soy buyers ink billion dollar deal in Iowa

Chinese buyers were in Des Moines last week to sign agreements to purchase more than $5 billion worth of soybeans, one of the largest purchases on record, according to the U.S. Soybean Export Council.

Seven of China’s largest processors signed about two dozen contracts committing to buy 460.3 million bushels of U.S. soybeans, which would equal roughly 80 percent of last year’s record Iowa soybean production.

The signing ceremony, hosted by U.S. Soybean Export Council (USSEC) in conjunction with the United Soybean Board, American Soybean Association and Iowa Soybean Association, occurred during the 2017 Global Agricultural Commodity Industry...

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