July 2, 2009
South Korean group to sign deal for 275,000 bushels of US soy
A trade delegation of South Korean soy buyers is set to sign purchase agreements with US soy companies for 275,000 bushels of US food-grade soy at a signing ceremony at North Dakota State University Wednesday, the United States Soybean Board said in a press release Tuesday (July 2).
"The agreement represents a move forward in US-Korea trade relations as it is the first major purchase of identity preserved US food grade soy by private Korean food bean importers," the USB said in the release.
South Korea was a top-10 importer of US soy and soy products in 2007-08, with purchases totalling US$295 million. South Korea is also the fifth largest market for US agricultural products.
The signing ceremony is scheduled for 3:00 p.m. EDT.
