A multi-city tour of U.S. soybean-related stops gets kicked off today with the signing of 15 purchase contracts for the oilseed that the U.S. Soybean Export Council says are worth an estimated $500 million.
The signing event, sponsored by USSEC, the Illinois Soybean Association and the Chicago Board of Trade, will take place at the Board this morning.
For the Chinese delegation, the event is intended to signal the importance of the soybean trade in what USSEC cays is "the fabric of Sino-U.S. trade relations," in a press statement. The U.S. soy export program to china is an important example of how U.S. agriculture is involved in the economic development of trading partners.
USSEC-American Soybean Association activities provide training and expertise in animal production and aquaculture that provide improved nutritional economic benefits, including the ability to feed people while being environmentally beneficial, the group notes.
The signing will take place at 11 a.m. this morning at the Chicago Board of Trade.