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Taiwan officials sign agriculture agreement at state Capitol

A delegation from Taiwan met with state leaders to sign trade agreement for Minnesota gricultural products.

Officials from Taiwan are in Minnesota Friday for an agricultural trade mission that includes signing letters of intent to buy billions ag products from growers in Minnesota and other states.

Taiwan is Minnesota’s sixth-largest trade partner and a big importer of corn and soybeans, state officials said.

Earlier this year, state Agriculture Commissioner Dave Frederickson went to Taiwan with a delegation, including Minnesota corn and soybean associations, to promote farm products.

The Taiwanese group is getting around. On Wednesday they signed a deal in Bismarck, N.D., to  buy 62.5 million bushels of North Dakota wheat in 2014 and 2015.

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Reports indicate that the current round of deals totals $4 billion worth of ag products from U.S. farm states.

The fine print, of course, notes that letters of intent are not binding sales contracts but are traditionally honored by longtime trading partners.