By Scout Nelson
Soybean farmers look for new ways to grow demand at home, even as trade discussions with China continue to improve.
During a recent webinar hosted by Agri-Pulse Communications, leaders from the United Soybean Board explained how Checkoff investments help farmers increase value and discover new markets.
Their goal is to strengthen domestic demand across food, fuel, and industrial products while encouraging more sustainable production practices.
“The farmer committees are working on looking at where do we want to go with investments. Where do we see the greatest return in the next five to 10 years? That's going to be expanded and looked at even a little more deeply when it comes to things like fuel and different things in that realm,” said Good, who farms in Mississippi. “So, I think we've got a lot of opportunity. We need to capture that in the form of return on investment for every farmer.”
USB Vice-Chairman Brent Gatton shared several examples of how soy-based products reach consumers in many ways. He said soy-based fire-suppressant foam, called SoyFoam, is growing in popularity because it avoids harmful chemicals. He also pointed out that soy can be found in tires, shoes, and synthetic turf.
While these uses may not be major market drivers on their own, they show how soy touches daily life and helps tell a strong sustainability story.
Renewable fuels remain one of the biggest opportunities for soybean farmers. Good said that supplying renewable fuel to rail and waterway shippers could become a major market. He believes the industry has only begun to explore this space and expects large volumes of soybean oil to be used in the future.
Citing specific examples, USB Vice-Chairman Brent Gatton, who farms in Kentucky, said the uses of soy-based products range from fire-suppressants that are free of so-called forever chemicals to common everyday items.
“Really, the beauty of high oleic and that high oleic fatty acid is that it provides benefits across food, feed and industrial applications,” said Jansen. “The high oleic program, as initiated by the USB, is generating just under $4 return for farmers on every $1 invested by the checkoff. So, it's been a great product for USB farmers.”
Overall, soybean leaders agree that Checkoff investments continue to open new doors.
By expanding industrial uses, improving traits, and growing renewable fuel markets, the soybean sector is building a stronger future for farmers.
Photo Credit: south-dakota-soybean-checkoff
Categories: South Dakota, Crops, Soybeans