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Iowa Soybean Association applauds U.S.-China trade agreement

The Iowa Soybean Association welcomes the trade agreement between the U.S. and China.

ISA president Tom Adam tells Brownfield.

“As soybean growers, we’re very grateful to President Trump for prioritizing soybeans in these discussions. And it was extremely important for us to get this done.”

The Chinese plan to buy 12 million metric tons of soybeans from the U.S. before the end of this year, and 25 million metric tons annually the next three years.

Adam tells Brownfield the second and third-largest markets for U.S. soybeans are the European Union and Mexico.

“And combined, they don’t quite meet 12 million metric tons. So it’s a big help, we’re going to continue to need to explore other markets though.”

He says the volumes agreed to are minimums, and it’s possible China could import more soybeans from the U.S. depending on the price comparison with South America.