Iowa Governor Terry Branstad often speaks of his 30-year friendship with the President of China, Xi Jinping. It now appears that relationship is opening up a new opportunity for the longest serving governor in U.S. history.
China's rapid industrialization and economic expansion over the past few decades has been a boon for U.S. farmers, especially soybean farmers. But China's economy is slowing down, leaving American farmers exposed to the downside of being tied to the world's second largest economy.
It’s planting time for Midwest farmers and much of the corn they grow will end up feeding livestock in China, which has become a huge importer of grain from the Corn Belt. That means the farmers can’t just select seeds based on which ones will get the best yield. They have to think about where their grain will be sold.