Business

China’s $6B Soybean Buy Benefits Minnesota

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(credit: Jupiter Images)

(credit: Jupiter Images)

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MARSHALL, Minn. (AP) — China’s recent purchases of more than $6.6 billion in U.S. soybeans is being called good for Minnesota, one of the largest soybean producing states.

Jim Call, who grows soybeans near the southern Minnesota town of Madison, tells The Independent of Marshall it’s a “huge deal” for Minnesota, which exported an estimated $900 million in soybeans to China last year. He says about half the U.S. soybean crop must be exported, so China is an important market.

As chairman of the United Soybean Board’s international marketing committee, Call was on hand when a Chinese trade delegation visited with Gov. Mark Dayton, agricultural officials and lawmakers in St. Paul last week. The Chinese were on their way to Chicago to sign the purchase contracts with several exporting companies.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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