Soybean Opportunities for U.S. Farmers Russ Carpenter, Chair United Soybean Board (USB) Communications Program to the National Farmers Union Beginning Farmers Institute September, 2011
Soybean Opportunities for U.S. Farmers Russ Carpenter, Chair United Soybean Board (USB) Communications Program to the National Farmers Union Beginning.
Dec 28, 2015
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Soybean Opportunities for U.S. FarmersRuss Carpenter, Chair
United Soybean Board (USB) Communications Program
to theNational Farmers Union
Beginning Farmers InstituteSeptember, 2011
Soybean Opportunities
Carpenter Family Farm
Crop and beef cattle
Trumansburg, N.Y.
Population: 1,600
New York, N.Y.
Population: 8.2 million
Soybean Opportunities
New York State Fair, Aug. 25 - Sept. 5, 2011Syracuse, N.Y.
Soybean OpportunitiesPercentage Change in Global Consumption: 1990-2010
Source: John Baize & Associates
Soybean demand up 145%; corn up by 76%, wheat up by only 21%
Soybean OpportunitiesInternational Marketing
More than every other U.S. row sold abroad
Animal ag use is largest use
Domestic Marketing
U.S. animal ag: 98% soybean meal poultry, pork, dairy, beef, fish
Food use: 83% of soybean oil Soy biodiesel: 11% of soybean oil Other: 6%
Know Your Customer, First
Think beyond your local elevator
Soybean Opportunities
Under Contract for Specific Use
Trait-enhanced U.S. soybeans
www.QUALISOY.com
Premium Programs
Examples: food-grade, non-biotech, others
www.SoybeanPremiums.org
Soybean Opportunities: My ViewsRotational Crop to Income Crop
1.98 billion bushels in 1991
3.3 billion bushels in 2010
Futures & Options
Manage risk
I forward contracted only 20% this year
Know Your Customer, First
Location, location, location!
Eastern U.S. is soy deficient
Largest acreage growth in Upper Midwest
Soybean Opportunities: My ViewsExpect the Unexpected
Huge competition for land Weather
Diversify
Carpenters: soybeans, corn, cattle, hay
Manage Debt
If not, it could will bring you down
Soybean Opportunities: My Views
Utilize multiple sources of info. Print, radio, TV, Internet
Get Involved!
Qualified State Soybean Boards
United Soybean Board
Soybean checkoff: www.UnitedSoybean.org
Soybean OpportunitiesUnited Soybean Board (USB)Long-Range Strategic Plan
Strategic Objectives
U.S. Soybean Mealincrease value
U.S. Soybean Oilincrease value
Freedom to Operatefreedom and infrastructure for us to operate
Customer Focusquality U.S. soy products and services
Current USB Priority Issues
Short-term opportunities, challenges in need of immediate attention by checkoff
1. Protect & Support U.S. Animal Ag
2. Transportation Infrastructure
Soybean OpportunitiesUSB Impact Projects
1. Identify Genes Affecting Yield
2. Export Market Diversification
Soybean Opportunities
Profit opportunities for all U.S. soybean farmers!
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