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New plans for new acreageCheckoff works to ensure demand satisfies increased supply of soybean acres this year Soybean acreage will be up this year according to the United States Department of Agriculture's 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 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. 6/9/08 Date: 5/30/08 Advertisement
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