MISSOURI — 12.53 million tonnes of U.S. soybeans are heading to China.
According to agweb.com several commodity importers from China signed the agreement, or frame contract, on Thursday. The frame contract makes it so China doesn’t have to purchase the soybeans on a specific date. They also report 36% of soybeans that China imports are from the U.S.
There are mixed reviews about this agreement. Some farmers are optimistic while others think the deal will have little impact.