Successful Iowa Virtual Soybean Trade Mission with Mexico
March 29, 2021
|In early March, the Iowa Economic Development Authority, in collaboration with the Iowa Soybean Association and the U.S. Soybean Export Council, held a virtual Iowa Soybean Trade Mission with Mexico.
Over the two-day, two-hours-per-day trade meetings, attendees heard first-hand information from leading soybean trade partners within Mexico’s feed and finance industry, soybean crushers, and soybean meal buyers. In addition, Mexico soybean customers received first-hand information from the Iowa soybean industry. The event also provided focus for Iowa cooperatives and agribusiness industry personnel.
A unique aspect of the event was that an Iowa soybean farmer delegation group provided insights from the 2020 crop year, and their intentions and expectations going into the 2021 crop year. Partners in Mexico were interested to hear the messages from the Heartland on crop production plans and opportunities for the new growing season.
From a trade perspective, Mexico is vital to Iowa’s export markets. The country imported more than $1.8 billion in goods and services from Iowa in 2020, with $1.3 billion of that number specific to agricultural products. Mexico is Iowa’s second largest market for soybeans, behind China.
Overall, the event provided continued support for Iowa’s soybean trade market, and a better understanding for Iowa attendees on the Mexican market and ways to identify opportunities to connect with contacts for soybean business development.
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