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Iowa farmers receive major boost after soybean deal
KCCI Television ^ | Jul 13, 2017 | Cynthia Foder

Posted on 07/14/2017 10:50:21 AM PDT by jjotto

DES MOINES, Iowa —

Iowa farmers received a major boost Thursday after a Chinese delegation in Des Moines signed commitments to purchase nearly all of Iowa’s soybeans.

The $4.5 billion deal to buy 460 million bushels of soybeans comes a week before Gov. Kim Reynolds is expected to lead an agricultural trade mission to China and brings tremendous value to the Iowa economy. Advertisement

“As an Iowa farmer, this is huge,” said April Hemmes, a farmer who owns a 1,000-acre farm near Hampton in rural Franklin County. “They basically bought the entire production that we have in the state of Iowa.”

Listening to translators through earbuds, agricultural leaders and exporters gathered at the Embassy Club in downtown Des Moines for the signing ceremony hosted by the United States Soybean Export Council.

“It was the request of the Chinese to come to Des Moines,” said Jim Sutter, U.S. Soybean Export Council CEO. “They have fond memories of (President Xi Jinping’s) visit and his time here, and it’s become legendary in China.”

The deal includes purchasing nearly all of Iowa's soybean production of 12.53 million metric tons, which is “a big deal that they would, in one day, sign 10 percent of total U.S. crop purchases.”

“It provides a great base for U.S. demand for soybeans,” Sutter said. “It’s a huge market and huge opportunities for farmers of Iowa.”

Nearly 60 percent of soybeans grown in the United States are exported to other countries, and China remains the No. 1 customer.

The Chinese delegation from seven companies also signed contracts for sorghum, pork and beef.


TOPICS: Agriculture; Business/Economy; Food
KEYWORDS: agriculture; china; economy; exports; iowa; second100days; soybeans; trade; winning
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1 posted on 07/14/2017 10:50:22 AM PDT by jjotto
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To: jjotto

Winning?

Winning.


2 posted on 07/14/2017 10:52:22 AM PDT by Luircin
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To: jjotto

The Trump/Branstad effect.


3 posted on 07/14/2017 10:54:48 AM PDT by 2ndDivisionVet (You cannot invade the mainland US. There'd be a rifle behind every blade of grass.)
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To: jjotto

I’m cool with this as long as these farmers understand that in the event of a trade war these contracts have the potential to be cancelled. These farmers should know what they’re getting into with a regime like China...


4 posted on 07/14/2017 10:58:39 AM PDT by steel_resolve (And an angel still rides in the whirlwind and directs this storm)
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For comparison, total US soybean production in 2016 was about 4.3+ billion bushels, with Iowa producing 570+ million bushels.


5 posted on 07/14/2017 10:58:56 AM PDT by jjotto ("Ya could look it up!")
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To: jjotto

Woohoo! More Man-Boobed Poodles!

https://duckduckgo.com/?q=soy+and+phytoestrogens


6 posted on 07/14/2017 11:00:55 AM PDT by HLPhat (It takes a Republic TO SECURE THESE RIGHTS - not a populist Tyranny of the Majority)
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To: steel_resolve

Sheesh, you must think farmers are idiots.


7 posted on 07/14/2017 11:02:16 AM PDT by Balding_Eagle ( The Great Wall of Trump ---- 100% sealing of the border. Coming soon.)
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To: steel_resolve

Ag production can vary more than this ten percent yearly due to weather vagaries. This is a big deal, but not much more risky than anything in agriculture.


8 posted on 07/14/2017 11:02:49 AM PDT by jjotto ("Ya could look it up!")
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To: steel_resolve

Perhaps they will switch to soybeans and syop producing so much corn. I’m thinking less corn, less ethanol. It can help change the gasoline blending requirements and we all win.


9 posted on 07/14/2017 11:02:55 AM PDT by webheart (Grammar police on the scene.)
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To: HLPhat

heh heh

Fortunately, something like 98% of soybeans feed animals, not people.


10 posted on 07/14/2017 11:04:23 AM PDT by jjotto ("Ya could look it up!")
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To: HLPhat

Man-boobed, leftist, tofu-munching beta males. Absolutely nothing different from what we have here.


11 posted on 07/14/2017 11:08:41 AM PDT by calenel (The Democratic Party is a Criminal Enterprise. It is the Socialist Mafia.)
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To: Balding_Eagle

Huge demand for soybeans. No worries.


12 posted on 07/14/2017 11:10:02 AM PDT by bigbob (People say believe half of what you see son and none of what you hear - M. Gaye)
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To: jjotto

Now if only we could get farmers out of the ethanol business. Surely there are other uses for the corn that is used there, or at least the farmland. We should not be using food for fuel. We have plenty of gas and oil for our vehicles.


13 posted on 07/14/2017 11:13:03 AM PDT by AlaskaErik (I served and protected my country for 31 years. Progressives spent that time trying to destroy it.)
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To: jjotto

The widening of the Panama Canal makes our agricultural exports more cost effective, so expect more deals like this.


14 posted on 07/14/2017 11:14:04 AM PDT by Vince Ferrer
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To: jjotto

President Xi: “Is this Heaven?”

President Trump: “No, it’s Iowa”.

President Xi: “Could have sworn it was Heaven”.

(Field of Dreams)

This is very, very big news.


15 posted on 07/14/2017 11:18:42 AM PDT by MichaelCorleone (Jesus Christ is not a religion. He's the Truth.)
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To: jjotto

WILL FARMERS SELLOUT AMERICA FOR $$$?

Farming the World: China’s Epic Race to Avoid a Food Crisis
https://www.bloomberg.com/graphics/2017-feeding-china/

Californians, Chinese Scooping Up Farmland in Washington State
http://www.nbcnews.com/business/real-estate/californians-chinese-scooping-farmland-washington-state-n401841

Saudi Arabia buying up farmland in US Southwest
http://www.cnbc.com/2016/01/15/saudi-arabia-buying-up-farmland-in-us-southwest.html


16 posted on 07/14/2017 11:20:23 AM PDT by stars & stripes forever (Blessed is the nation whose God is the Lord. Psalm 33:12)
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To: AlaskaErik

“Now if only we could get farmers out of the ethanol business.”

You said it!

Putting corn in the gas tank is foolish; how it became a common practice only demonstrates how ‘broken’ our government is.

Not to mention it hurts the engine and reduces power (I’m told).


17 posted on 07/14/2017 11:22:20 AM PDT by MichaelCorleone (Jesus Christ is not a religion. He's the Truth.)
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To: jjotto

I produced 1000 bu last year to contribute to the effort.

Each step towards 4.3 billion bushels begins with but a tiny seed planted millions of times, good weather, adequate sunshine and rain, and a farmer who tends it all.


18 posted on 07/14/2017 11:25:55 AM PDT by urbanpovertylawcenter (the law and poverty collide in an urban setting and sparks fly)
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To: AlaskaErik

Yep, ethanol for fuel is one of the wasteful ideas ever propagated.


19 posted on 07/14/2017 11:26:01 AM PDT by glorgau
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To: Balding_Eagle

Not really, I am just envisioning the howls of protest that we’re stealing food off their kid’s plate, when in reality this was always going to be a risky transaction due to the nature of the purchasing party.


20 posted on 07/14/2017 11:31:45 AM PDT by steel_resolve (And an angel still rides in the whirlwind and directs this storm)
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