St. Louis, Missouri
April 15, 2008
Soybean acreage will be up this
year according to the United States Department of Agriculture’s
(USDA)
Prospective Plantings
report. The report anticipates nearly 75 million acres of
soybeans will be planted this season in the United States, up
from roughly 64 million acres in 2007.
The United Soybean Board
(USB) and soybean checkoff realize that with this increased
acreage comes increased responsibility to make sure that these
soybeans find a good home. To ensure demand stays high, the
checkoff will continue the successful programs and initiatives
already in place as well as look for new ways to grow demand.
“Corn acres dominated the market last year partly because of an
increase in ethanol demand, but this year, soybean acres look
like they are going to come back in a big way,” says Ike
Boudreaux, USB chairman and soybean farmer from Lebeau, La. “The
soybean checkoff is now tasked with ensuring there is demand for
the increase in production.”
Expanding current international markets and creating new demand
abroad for soybeans will be a focus for the checkoff leaders as
more soybean acres are being planted in the upcoming months.
Last year, U.S. soybean famers saw record exports reach 1.4
billion bushels of soy. The checkoff is looking to increase
these numbers by opening new markets for soy. One new
checkoff-funded study in Thailand is focused on developing
high-density goat feed blocks made of soy in an effort to
increase the consumption of soybean meal by goats. Goat meat is
a widely consumed meat worldwide. This makes for a huge
opportunity for U.S. soy abroad.
People are also consuming soy through edible oils. In terms of
U.S. consumption, soybean oil significantly outpaces all other
types of edible oils combined. New soybean varieties that will
yield healthier oils have been introduced to meet a growing
trend of consumers seeking healthier foods. The checkoff, in
partnership with various industry groups, continues to fund
research and testing on soybean varieties with new oil traits
that will produce healthier oils and improved flavor stability
for baking and heavy commercial frying use.
“Animals and people, both here and abroad, are big customers for
U.S. soybean farmers, and the checkoff will continue to develop
ways to expand these markets,” says Boudreaux. “The
farmer-leaders are also on the lookout for new ways to grow
demand for new acreage through international aquaculture efforts
as well as working with industry to develop new industrial uses
for soybeans through the checkoff’s New Uses program.”
Checkoff farmer-leaders also continue to explore industrial
markets to build new demand for U.S. soy. New products currently
receiving checkoff funding include soy-based concrete stains,
adhesives and transformer fluids. Checkoff farmer-leaders are
also seeing more success from past partnerships as Ford and
other automobile manufacturers implement soy technologies such
as soy foam seating in upcoming 2008 and 2009 model year
vehicles.
USB is made up of 68 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 Consumer Information Act,
USDA’s Agricultural Marketing Service has oversight
responsibilities for USB and the soybean checkoff. |
|
