Yesterday (Tuesday), state officials and industry leaders signed a substantial agreement with Taiwanese representatives to sell U.S. corn and soybeans valued at over $2.6 billion. The letters formalized Taiwan’s intent to purchase between 96 and 107 million bushels of soybeans and 59 million bushels of corn between 2023 and 2024. Gov. Reynolds says, “[These] letters of intent represent the next stage of Iowa’s longstanding, bilateral friendship with Taiwan. They’re also powerful proof of Iowa farmers’ global reputation for high-quality agricultural production and the enormous benefits that flow to our economy as a result. I’m deeply grateful to Taiwan for committing to Iowa, and I can’t wait to see where this relationship goes in the future.” Taiwan is Iowa’s 12th largest trading partner, with an estimated $305 million in manufactured and value-added goods exported there in 2021.
