Last week in Des Moines, a Chinese trade delegation signed a contract to buy over $ 2 billion worth of US. Soybeans. U.S. Soybean Export Council Chairman Jim Miller who farms near Belden, Nebraska says that amounts to over 5 million metric tons of soybeans.

He says global demand for soy has risen.

Miller says if that demand trend continues, more soybeans will have to be produced to meet that need.

The latest soy purchase by the Chinese along with an earlier sale represents about a third of U.S. soybeans they’re buying for the year.