DES MOINES, Iowa On the July 31 Agribusiness Report: members of the Iowa Soybean Association are on a nine-day trip to China to develop a relationship and consumer preference with the country. Chinese producers don’t have the incentive to grow soybeans like they do for corn because of a lack of oilseed subsidies. This means they look overseas to places like Iowa for their soybean supplies.
The U.S. Cattle inventory is at its lowest since the National Agricultural Statistics Service began in 1973. According to the most recent report, July’s inventory down 3% from 2012.