The U.S. Soybean Export Council hosted a ceremony in Iowa to mark the sale of soybeans to China. Laura Foell, a soybean producer from Schaller, Iowa, is chairman of the U.S. Soybean Export Council. She’ll be there, along with representatives of the Chinese government.
Chinese officials will reveal the amount of U.S. soybeans they plan to buy at the ceremony, which will be held in Des Moines. Similar events in the past have formalized the purchase of two-point-three BILLION dollars’ worth of U.S. soybeans in 2014 and two-point-eight BILLION the year before. China is the top buyer of U.S. soy products, purchasing about 25 percent of all U.S. soy production annually.
Foell says it’s important not to have an over-reliance on soybean sales to China and continue to court customers in Europe and other Asian countries like Malaysia and Vietnam.
