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China Soybean Accords Total 13.4 Million Tons, Group Says

China, the world’s largest soybean importer, agreed to buy a total of 13.4 million tons (492.3 million bushels) of the oilseed in contracts signed this week in Iowa and California, the U.S. Soybean Export Council said.

The 21 contracts, signed with U.S. companies including Archer Daniels Midland Co. and Cargill Inc., coincided with Chinese Vice President Xi Jinping’s visit to Des Moines and Los Angeles, the Council said in an e-mailed statement. The sales are valued at $6.7 billion, according to the statement.

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