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China A Major Agricultural Partner For Iowa

Posted: Sunday, February 19th, 2012 at 6:21 am
Author: KNIA/KRLS News-Evan Little

China’s Vice President Xi Jinping visited Iowa as part of his tour of the United States. Justin Huebner with the Two Rivers Coop tells KNIA/KRLS News that the visit is a positive event, even if it is mostly PR related. Justin says that the relationship that Chinese buyers and Iowa growers have has been a solid one for quite awhile, and he doesn’t see that changing any time soon. He says that China is far and away the largest buyer of Iowa’s soy beans, and that demand in China for the crop is astronomically high. Huebner says that China will need to purchase about 40.8 million bushels of soybeans every week for the entire year to meet the estimate of 55.5 million metric tonnes of soybeans for the year. Additionally much of China’s agricultural area in a drought, and so he expects that demand this year could raise beyond current estimates.