China Commits to Buy $2.8B in U.S. Soy
Katie Micik DTN Markets Editor
Mon Sep 16, 2013 07:00 PM CDT

DAVENPORT, Iowa (DTN) -- Eight Chinese crushing companies signed contracts to purchase 177.4 million bushels of U.S. soybeans valued at $2.8 billion at a contract signing ceremony here Monday.

Some of the sales over 100,000 metric tons will be reported to USDA and listed later this week.

"About every fourth row of my crop is exported to China, the number one destination for all of American soybean exports," said Randy Mann, an Auburn, Ky., farmer and chairman of the U.S. Soybean Export Council. "This is something U.S. soybean farmers take great pride in. We are not just suppliers to China, ...

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