China to import record 13m tons of US soybeans

Nation to buy more oilseeds as animal feed demand increases

Members of a trade delegation from China, the world's top soybean importer, signed agreements to buy a record 13.18 million metric tons of the oilseed worth around $5.3 billion from United States shippers after annual negotiations.

US industry representatives and members from the Chinese delegation announced the agreements on a conference call after talks in Des Moines, Iowa. US shippers outlined in 24 agreements included Archer-Daniels-Midland Co, Cargill Inc and Louis Dreyfus Group. The cargoes are set for delivery by Aug 31, according to the US Soybean Export Council.