From the 34th floor of the Ruan Building, the day was drawing to a close. 34 floors wouldn’t be much in some places, but in Des Moines there would only be a few stories left. Outside the clouds were moving in, and inside, at my table, talk momentarily centered on the clouds moving in elsewhere.
We were eating with a delegation of 49 from China. I had got to tag along as a farmer. Back home, in their country, the robust Chinese economy had caught a cold. Here an agricultural economy, the likes of which we had never seen before, seems to be winding down to an uncertain future.
Sitting at my table was a member of one of the various commodity groups. We had met earlier that day and had just concluded spending the afternoon together. Unlike some, he had survived it.
“Agriculture is a place for optimists. I’m one myself, and proud of it. Even I am worried about what might lie ahead, however.”
Earlier on this floor in the mid-day sunshine, the delegation had been joined by an assortment of executives from the world’s major grain merchandisers. Louis Dreyfus, Cargill, ADM, and others had filled the long table at the front of the room to sit side by side with their Chinese counterparts. Together they signed contracts totaling 5.3 billion dollars and 13.8 million metric tons of soybeans.
If you are unfamiliar with the Chinese appetite for soy, you should know that one out of every three Iowa rows you drive past will ultimately make their way to feed it. In fact to fill the contracts signed that afternoon, it would take nearly every Iowa soybean raised this year.

The delegation views the most cutting edge drone on the market, likely made in their own country to begin with. They went right by two state of the art John Deere tractors and a combine to do it.
One of the morning speakers had offered investment advice to those in attendance. I would paraphrase it here:
Pursue investments strategically. If you are going to invest, be sure to convey the value and influence you offer as an investor. Never quit verifying the assumptions you’ve made about your investment and its strategic fit into your portfolio. Finally, always stay abreast of the synergies your investment might make available.
He delivered his remarks using dense, multi-syllable words delivered in a staccato that resembled plunging knife strokes to drive his point home. He was a good speaker, and I suspect Americans, like me, took note of it. I suspect the Chinese, here with a population of 1.3 billion people at home, had mastered it some time ago.
The afternoon featured a farm tour and another slate of speakers. One presented the thought that if you are buying one out of every three rows, you’re not really a customer. You are a partner. Our partner, China, faces two hurdles. First, it has an immense and growing population. Second, that population has an evolving diet.
In order to continue to feed it, the case was once again made for GMOs. 80 percent of the soybeans grown worldwide are already genetically modified. Almost all are in the US. This has translated into more bushels per acre, but often lost is the yield to be gained in other areas.
High oleic soybeans are right around the corner. These will have 0 trans fats and will create better oil, with higher protein contents, better antioxidants, and better lubrication. Coming with this line are other lines generating significant bumps in oil and protein content. Not only will beans yield more bushels, but the bushels they yield will go farther, requiring less land, less shipping, and less of an environmental footprint.
When dinner was getting underway, the dignitaries present were invited to speak. One representative from the Chinese delegation joined them. As he did, we put our ear pieces in to hear his remarks through the interpreter in the back of the room.
He described their visit, beginning with their initial stop in Seattle, Washington. He shared his observations about what they had seen that day. Then he said his only sentence in English: “This is the last stop, but this is the most important stop.”
This farmer would concur, and finds himself back where we started. There are still a few stories left.


