Last week China signed memorandums of understanding with three Iowa Groups that they hope will lead to increased trade. Iowa Soybean Association was one of the groups. President Brian Kemp who farms near Sibley says it’ll lead to more business and trade exchanges between Iowa and China.
Kemp says China’s trade team also traveled to an Iowa farm which he thinks will lead to more exports of soybeans to the Asian nation.
Also signing M-O-U s with the Chinese were the Iowa Departments of Agriculture and Economic Development. In the deals the Chinese agreed to a $ 100 million contract that covers soybeans planted this spring for delivery after harvest. It represents 200,000 tons of soybeans.