The Indiana State Department of Agriculture has reported Taiwan signed two Letters of Intent with the Indiana Corn Marketing Council and the Indiana Soybean Alliance to purchase nearly $6.4 billion of U.S. corn and soybeans over the next four years.
As part of the Taiwan Agricultural Trade Goodwill Mission, the Letter of Intent between the Indiana Corn Marketing Council and the Taiwan Feed Industry Association states that Taiwan will purchase nearly $2.12 billion of U.S. corn and corn products from 2026 – 2029.
The Letter of Intent between the Indiana Soybean Alliance and the Taiwan Vegetable Oil Manufacturers Association states that Taiwan will purchase between $3.44 billion and $4.2 billion of U.S. soybeans from 2026 – 2029.
Tim Gauck, president of the Indiana Corn Marketing Council, and Denise Scarborough, chair of the Indiana Soybean Alliance, signed the letters of intent on behalf of their respective organizations.
The ceremony was witnessed by Gov. Mike Braun, Lt. Gov. Micah Beckwith, and Indiana State Department of Agriculture Director Don Lamb, who served as official signatories for Indiana.
The Taiwan delegation included the Taiwan Deputy Minister of Agriculture, Wen-Jane TU, along with leaders and members from animal, sugar, livestock, poultry, and feed industries, local cooperatives, U.S. Soybean Export Council, U.S. Grains Council, Taiwan Foreign Ministry, the embassy and the consulate in Chicago.
The Taiwan Agricultural Trade Goodwill Mission is held biennially and 2025 marks its 15th mission. These missions are focused on building relationships with states and strengthening bilateral agricultural cooperation. Since its inception in 1998, these missions have facilitated the purchase of 5.4 billion bushels of U.S. grains, which has totaled nearly $34.7 billion.
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