March 7, 2007

USB issues its 2020 soybean vision report
 

The United Soybean Board (USB) has released its 2020 vision report which focused on four key stages: a comprehensive environmental scan that identified key areas of emphasis; scenario analysis of the future of the soybean industry; development of the actual vision and supporting strategies; and the actual launch of the Soy 2020 vision.  

Though the future of the soybean remains uncertain, USB Chairman Eric Niemann said the unity among the soybean sector will be the key in a thriving soybean industry despite future challenges.

In March 2006, Monsanto approached USB to undergo a major visioning process that would ultimately bring together all facets of the US soybean industry amid numerous ordeals. USB quickly brought on additional financial sponsorships with a contribution of its own, as well as support pledged from Monsanto, Deere and Company, the National Oilseed Processors Association and Farm Credit Council.

Soy 2020 is a unique endeavour, said Niemann, as it taps into the entire soybean value chain to study what is happening in the industry today, and what could possibly happen down the line.

A steering committee representing national and state soybean associations and checkoff boards, farm equipment companies, seed companies, processors, food manufacturers, agricultural lenders, USDA, academics and agricultural media was assembled to undertake the project, according to Niemann.