Chinese Buyers Commit To Purchase $1.8 Billion Of U.S. Soy

As U.S. farmers prepare to harvest their 2016 soybean crops, customers in China are committing to purchase them. Buyers from China have committed to buy nearly $1.8 billion worth of U.S. soy, totaling 146 million bushels of U.S. soybeans. Several of these commitments were made official at a signing ceremony held at the Global Trade Exchange in Indianapolis, hosted by the U.S. Soybean Export Council (USSEC).

"China continues to be the No. 1 importer of U.S. soybeans," says Xiaoping Zhang, USSEC country manager - China. "International buyers have many options, so the fact that Chinese buyers purchase such a magnitude from the U.S. is testament to the U.S. Soy Advantage and the quality and sustainability that it provides."

Last year, U.S. soybean farmers exported a record 62.88 million metric tons of soy and soy products, valued at $27.7 billion - a record high. Economists are predicting even more in 2016.