Earlier this month, the USDA announced that China shifted 550,000 metric tons of previous U.S. soybean sales to China for 2010-2011 delivery to 2011-2012 delivery. China is well known as the world’s leading importer of soybeans and the leading destination for U.S. soybeans.
Joel Thorsrud of the United Soybean Board made a stop at our booth at Big Iron today to tell us about U.S. soybean farmer trade with China. He says their international marketing is going very well with China, and they’re looking to expand.
Thorsrud says that much of the soybeans from the Dakotas here end up in China, which helps the marketing price for soybeans. He says that USB’s goal this week at the show is to remind farmers that the elevator is not the final destination for their soybeans, the soybeans leave for China three weeks after those soybeans reach the elevator.
Thorsrud says there is always good demand from animal agriculture for soybean meal, but human consumption is a growing user of soybeans as well. He says there is a new soybean coming.
Commenting on the Farm Show, Thorsrud says that the tiling demonstration is a big hit. He says it’s another important advance to help improve soybean crop yields.