July 26, 2017
United Soybean Board works to build preference for US soy
At the United Soybean Board's (USB) July meeting, the booming supply of soy was a topic of discussion - as was the need for continued strong demand.
Conversations shifted from increasing volume to maximising value to set farmers up for long-term profitability.
As USDA reports a record high of 89.5 million planted acres, the farmer-leaders are investing checkoff dollars both inside the bean to improve the meal and oil, and beyond the bean to meet evolving end-user demands sustainably.
Continuous improvement in
US soy keeps preference strong. In terms of soybean meal, the farmers discussed a growing interest in who is purchasing and using US
soy and how to meet their needs for a quality product through innovative research and measurement.
For soybean oil, the farmers looked to leverage rapidly expanding technologies, including high oleic, and to also diversify the investment portfolio through industrial uses. The board also elevated the conversation on sustainability and tools to meet the needs of the future, including plant breeding innovations. This portfolio of investments helps to maximise farmer profit opportunities long-term.
"US soybean farmers and their checkoff are working toward the best of both worlds - quantity and quality," USB chair John Motter said. "Farmers need to be able to make decisions on not just how many acres, but what's in those acres. We're focused on getting more value per acre returned to farmers."
"Finding, launching and leveraging profit opportunities for all US soybean farmers is a constantly evolving mission for USB," USB CEO John Becherer said. "Checkoff investments made by US soybean farmers grew the value of US soy over the past 25 years through innovative investments and partnerships with industry. We look forward to continuing to do so for the next 25 years to maximise value for US soy and maximise profit opportunities for US soybean farmers."
USB's 73 farmer-directors work on behalf of all US soybean farmers to achieve maximum value for their soy checkoff investments. These volunteers invest and leverage checkoff funds in programmes and partnerships to drive soybean innovation beyond the bushel and increase preference for US soy. That preference is based on US soybean meal and oil quality and the sustainability of US soybean farmers.
As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.
- United Soybean Board
