Buyers from China have committed to buy nearly $1.8 billion worth of U.S. soy products, totaling 146 million bushels of U.S. soybeans. The U.S. Soybean Export Council announced the commitments this week. The Council held a signing ceremony at the Global Trade Exchange in Indianapolis. China continues to be the top buyer of U.S. soybeans. More than a dozen Chinese representatives are in attendance this week at the Global Trade Exchange to network with U.S. farmers and learn more about U.S. soy products.
Last year, U.S. soybean farmers exported a record 62.8 million metric tons of soy products, valued at a record high $27.7 billion. Economists are predicting even more in 2016.
Source: NAFB News Service