A Chinese Ministry of Commerce Team will be in Des Moines tomorrow to sign an agreement to buy U.S. soybeans. Iowa Soybean Association Director of Market Development Grant Kimberley says they don’t know the exact amount the Chinese will purchase, but speculate the sale could be bigger than normal since it coincides with the visit from the Chinese President.

The Chinese routinely hold this signing ceremony in the fall and buy several framed contracts. Kimberley says this year they may also up their commitments due to the low prices for U.S. soybeans compared to past years.

He says this trade visit will also provide an opportunity for the leaders of the two countries to talk with about trade issues, such as China’s slow biotech approval process.

Iowa Governor Terry Branstad is also scheduled to visit with the Chinese President in Seattle. Kimberley says they hope that meeting and the ones with the soybean buying delegation will give them a better idea of the economic slowdown in China and how that will impact future soybean export sales.