MADISON, Wis. (AP) -- Taiwan has agreed to purchase billions of dollars' worth of corn and soybeans from six U.S. states in the next two years.
Taiwanese officials signed letters of intent Thursday at a Madison news conference with Gov. Scott Walker.
Taiwan pledged to buy between 103 million and 110 million bushels of soybeans in 2012-13, with the value expected to range from $1.61 billion to $1.73 billion.
The officials also agreed to buy 303 million to 413 million bushels of corn over that period, plus up to 750,000 bushels of corn by-products. That deal could be worth an estimated $2.5 billion to $3.4 billion.
A Wisconsin agriculture spokeswoman says the deals involve exporters in Illinois, Indiana, Iowa, Ohio, Virginia and Wisconsin. She says the specific breakdowns by state are to be determined.
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