A trade team from the Taiwan Feed Industry Association signed a letter of intent to purchase more than $1 billion of corn and distillers dried grain with solubles (DDGS) last week during a goodwill mission in Iowa.

The letter of intent signed between the Iowa Corn Promotion Board (ICPB) and the Taiwan Feed Industry Association outlines the intention by the Taiwanese to purchase 5 million metric tons (197 million bushels) of corn and 500,000 metric tons of DDGS between 2018 and 2019.

“Taiwan is an important buyer of U.S. corn and co-products,” said ICPB Director Mark Heckman, a farmer from West Liberty. “By having this goodwill mission in our state, we are strengthening trade ties and...