Buyers from China have agreed to buy $2.3 billion of U.S. soy products during the U.S Global Trade Exchange this week in Milwaukee. This marks the second consecutive year that the gathering has generated significant export sales for U.S. soybean farmers. The event allows foreign buyers to make deals and learn about U.S. soy and is co-sponsored by the U.S. Soybean Export Council, the Midwest Shippers Association and the American Soybean Association. United Soybean Board chairman Jim Call said “this shows that we continue to meet the needs of our international customers, and they’ve certainly taken notice.”
In the most recent marketing year, U.S. soybean farmers exported more than 1.7 billion bushels of U.S. soy to customers beyond our borders. The value of these exports set a record of more than $28 billion. Representatives from China committed to buy $2.8 billion worth of U.S. soy during last year’s U.S. Soy Global Trade Exchange in Davenport, Iowa.
Source: NAFB News Service