Columbus, Ohio
July 10, 2007
Soybean checkoff farmer-leaders
serving on the United
Soybean Board (USB) continued to prepare their industry for
growth during their summer board meeting. As a part of that
preparation, farmer-leaders finalized funding priorities for the
2008 fiscal year. Among the priorities discussed were biodiesel
market expansion, continued partnership with the livestock
industry, impacting the food industry with new varieties,
funding research to protect crops from pests and diseases and
developing new soy products.
“We are coming upon an age of opportunity for American
agriculture and the U.S. soybean industry will be a big part of
that success,” says Eric Niemann, USB chairman and a soybean
farmer from Nortonville, Kan. “As we move forward, we must
continue to increase on-farm profit opportunities for our fellow
soybean farmers by accomplishing our goals aggressively while
ensuring that our investments are made in an efficient and
effective manner.”
The soybean checkoff faces a number of opportunities in the next
few years. One important example is the continued promotion of
soy biodiesel and other soy-based product technology. Currently,
50 percent of soybean farmers surveyed by the checkoff state
they are using soy biodiesel. Like ethanol, as the biodiesel
industry continues to grow, analysts are concerned that the
soybean industry will not be able to support future demand.
According to Niemann, the soybean checkoff is committed to
working with its industry to invest in research to increase
yields and produce soybean varieties containing higher oil
contents. Such research will help the U.S. soybean industry meet
the increasing needs of the food, feed and fuel industries.
Another hot topic is the soybean checkoff’s support of the U.S.
livestock industry. Livestock and poultry account for 77 percent
of domestic use of whole soybeans and just about all of soybean
meal. The soybean checkoff will continue working to improve the
competitiveness of domestic poultry and livestock producers by
uniting the agriculture industry in support of animal
agriculture. Success for domestic animal agriculture means
success for soybean farmers.
In addition to domestic uses of soy, U.S. soybean farmers will
continue to meet the changing needs of overseas customers. USDA
estimates that by the end of the 2006-2007 marketing year, 435
million bushels of soybeans will be exported to China alone.
This represents roughly 41 percent of all soybean exports. China
is projected to import 1.139 billion bushels of soybeans for
2007, up from 381 million bushels in 2001. The soybean checkoff
has representatives promoting U.S. soy in 80 countries
worldwide.
“We will continue to seek out new opportunities on the horizon
to help U.S. soybean farmers remain globally competitive, says
Niemann. “We feel that increased meal use in aquaculture,
additional research to make soy biodiesel more cost-effective
and tools to help farmers identify plant diseases are all key
investments that will provide a boost to soybean farmer
profitability.”
During the meeting, USB also selected Osborn & Barr
Communications as its primary communications contractor.
USB is made up of 64 farmer-directors who oversee the
investments of the soybean checkoff on behalf of all U.S.
soybean farmers. Checkoff funds are invested in the areas of
animal utilization, human utilization, industrial utilization,
industry relations, market access and supply. As stipulated in
the Soybean Promotion, Research and Customer Information Act,
USDA’s Agricultural Marketing Service has oversight
responsibilities for USB and the soybean checkoff. |
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