May 26, 2008

Iowa soy association sees China as a crucial market

The Iowa Soybean Association recently said that China is a crucial market for US soy farmers.

Kirk Leeds, CEO of the association, said that as of May 1, China has already imported over 470 million bushels of US soy which is nearly equivalent to Iowa's entire production in a normal year.

Leeds said that one Chinese official lectured the Iowa delegation, urging them not to blame the Chinese for rising food prices in the US.

The association said that some issues affecting soy recently include the earthquake, the long term ability of the US to supply a huge amount of soy and the need for optimum quality.