Chinese Delegates Renew Trade Relations with Iowa

China is the biggest buyer of soy products from the U.S. Last year, they purchased more than 2 billion dollars in soybeans.

Members of a delegation from China, the world’s top soybean importer, signed memorandums to buy 13.18 million metric tons of the oilseed worth $5.3 billion from U.S. shippers after annual negotiations in Des Moines, Iowa.

Lieutenent Governor Kim Reynolds along with members of the delegation will sign more than a dozen contracts to purchase soybeans and heath products, Thursday afternoon. She’s also the chairwoman of the U.S. Soybean Export Council.

Laura Foell, a soybean producer from Schaller, Iowa, is chairman of the U.S. Soybean Export Council. Plant soybean publication is research at a minimum of three.94 billion bushels – a close mark, Kimberley said. “Building on these partnerships helps us continue to be a supplier of choice”. As a leading agriculture state in the nation, Iowa farmers produce food, fiber and fuel that are exported to China.

Branstad said trade between Iowa and China has “dramatically increased” over the past decade; 30 percent of the soybeans produced in Iowa now go to China.

Branstad noted that he met with Xi in Seattle earlier this week, where he presented the Chinese president with a framed photograph of the delegation in his office in 1985.

Representatives from Chinese companies such as state-owned COFCO and Sinograin and privately-held Sunrise Group signed 24 contracts with USA companies, including Archer Daniels Midland Co and Cargill Inc, in one of the largest single-day soybean deals on record.

“I think it’s pretty neat when the president of China calls you an old friend”, he said.