The United Soybean Board (USB) will have its annual meeting in July, and with that comes the opportunity for new investments to improve soybean farmer profitability. USB Vice Chair and New York soybean farmer Ralph Lott says the board will review and approve project proposals that drive global preference for U.S. soybeans.
?The Soy Checkoff 78 farmer leaders have been working for months to review, score and discuss hundreds of proposals across marketing, research and promotion,? Lott said. ?We evaluate projects geared toward addressing the farmers? most pressing needs relating to whole soybeans, soybean meal, soybean oil and sustainability. These projects all share a common goal ? delivering a better soybean to maximize profit opportunities for U.S. soybean farmers.?
Investments made by the Soy Checkoff aid farmers by increasing the value and quality of their soybeans.
?We’ve made investments in research that strengthens soybean production, improves protein meal quality and developed new industrial uses for soybeans,? Lott said. ?We’ve been promoting the sustainability of U.S. soy. And then we’ve invested in infrastructure research, planning, analysis and design to drive a dredging project on the lower Mississippi River. It’s saving farmers 13 cents a bushel on the freight, and it’s bringing an additional $461 million in revenue to U.S. soybean farmers.?
In the future, they can invest in a soy-based concrete durability enhancer for roads and bridges, testing of a drought tolerant soybean germplasm, and continued soy quality surveys.
?What that means is that the University of Minnesota sends out packets to farmers, and then we collect samples, and the samples are sent back to the university, then the university analyzed those samples for oil and protein, and then those results are sent back to the farmers and also sent to end users that may want a bean that has high oil content, or else has high protein content, and the goal is to make informed decisions around product improvement,? Lott said.
Visit unitedsoybean.org for more information.
