Market News & Headlines >> Export Deals Set at Soy Meeting

Chinese buyers attending the second-annual, soy-checkoff-funded U.S. Global Trade Exchange in Milwaukee, have agreed to buy 176 million bushels of U.S. soybeans worth $2.3 billion, the United Soybean Board (USB) said on Wednesday.

This marks the second consecutive year the gathering has generated significant export sales for U.S. soybean farmers, the group noted. International representatives committed to buy $2.8 billion worth of U.S. soy during last year’s U.S. Soy Global Trade Exchange in Davenport, Iowa, the USB noted.

“This is very exciting news for U.S. soybean farmers,” says Jim Call, soybean farmer from Minnesota and United Soybean Board chairman. “This shows that we continue to meet the needs of our international customers, and they’ve certainly taken notice.”

The event – where foreign buyers gather in the heart of the American Soybean Belt to make deals and learn about U.S. soy – is co-sponsored by the U.S. Soybean Export Council (USSEC), the Midwest Shippers Association and the American Soybean Association (ASA). It continues through Thursday, Sept. 18.

During the event, international representatives will meet with U.S. soy farmer-leaders and will also attend a variety of presentations to learn about the sustainability and quality of U.S. soybeans.