By Scout Nelson
South Dakota soybean producers continue to face trade challenges, but growing global demand creates reasons for optimism. Farmers and industry groups are working to strengthen international markets and develop new opportunities for U.S. Soy.
Michael McCranie, a South Dakota farmer and director with the United Soybean Board and U.S. Soybean Export Council, highlighted the importance of exports. USDA figures estimate that about 54% of the U.S. soybean crop is exported this year, showing why strong trade relationships remain important for producers.
"Farmers' dollars are what fund [USSEC], and so we don't want those dollars to go to waste," McCranie said.
Trade groups use market data to identify countries and regions where U.S. Soy can have the greatest potential. They study market conditions, buyer needs, and opportunities before deciding where to focus on resources. Building these relationships takes time and requires regular communication.
Tanner Hento, a South Dakota Soybean Research & Promotion Council director, said farmers must continue supporting existing markets while developing new ones.
Value added agriculture also creates opportunities for soybean farmers. Domestic processing plants turn soybeans into oil and soybean meals.
Growing demand for biodiesel, renewable diesel and sustainable aviation fuel increases soybean oil use while creating more soybean meals for livestock markets.
Photo Credit: gettyimages-zoran-zeremski
Categories: South Dakota, Business, Crops, Soybeans