#innovationIOWA Chinese soybean buyers agree to multibillion-dollar purchase during Iowa visit

DES MOINES – More than a dozen Chinese soybean buyers agreed to purchase $5.3 billion worth of U.S. soybeans last week in Des Moines. The 484 million-bushel order comes at a perfect time as Iowa farmers begin to harvest what’s expected to be a record crop, according to Grant Kimberley, Iowa Soybean Association market development director. Government estimates peg Iowa soybean production at 526 million bushels, up 2 percent from the August forecast. U.S. soybean production is forecast at 3.94 billion bushels, a near record.

Newton Daily News

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