Farmers across the country are taking a harder look at every dollar moving through their operations. With tight margins, elevated input costs, and continued uncertainty in the ag economy, some soybean growers may question whether they are truly seeing value from the soybean checkoff dollars collected on every bushel sold.
Members of the United Soybean Board say those are fair questions to ask.
Speaking at the U.S. Soy booth, New Jersey farmer and USB board member Pat Giberson said the soybean checkoff continues focusing heavily on building demand both domestically and internationally for U.S. soybeans and soy products.
Giberson said the soybean industry has changed dramatically over the last several decades. Years ago, the concern centered around finding enough uses for soybean oil. Today, with expanding crush capacity and growing renewable fuel demand, the conversation has shifted toward developing stronger markets and additional uses for soybean meal.
USB continues investing in export development, livestock feed demand, biofuels, and industrial uses for soy-based products. Giberson said that includes new opportunities involving adhesives, polymers, firefighting foam, and other biobased products.
Giberson also pointed to growing opportunities in developing regions around the world where rising economies are increasing demand for protein. He said soybean meal continues playing an important role in livestock and poultry production both domestically and internationally.
USB says continued demand growth remains critical as U.S. soybean production has roughly doubled over the last 35 years. Giberson added that farmers should continue asking questions about where their checkoff dollars are going because those investments are funded directly by producers themselves.
