ST. LOUIS (July 29, 2014) - Under the soy checkoff program, all U.S. soybean farmers contribute a small percentage of their gross soybean sales for research and marketing projects that maximize their profit potential. According to the results of a new, independent study, the checkoff continues to grow those small investments into big results for U.S. soybean farmers.

The results of the checkoff's most recent regular, independent return-on-investment (ROI) analysis found that all U.S. soybean farmers receive $5.20 in profits for every dollar they invest in the checkoff.

"Farmers are always looking for ways to improve profitability and become more efficient, so ROI is very important to them," says United Soybean Board (USB) Chairman Jim Call, a soybean farmer from Madison, Minnesota. "This study shows that U.S. soybean farmers are better off because of the checkoff."

Gary Williams, Ph.D., an agricultural economics professor from Texas A&M University who conducted the study, says 5 percent of all U.S. soybean farmers' revenues are due to the checkoff's research and marketing efforts. Williams also pointed out other conclusions, including:

• The soy checkoff has increased the size of the U.S. soybean industry.
• It has lifted the markets for U.S. soybeans, meal and oil, as well as U.S. soybean farmer returns.
• The checkoff has also increased U.S. soy exports and reduced the competitive threat of the South American soybean industry. As a result, U.S. soybean farmers currently enjoy a larger share of the global soy market.
• The benefits of the checkoff for U.S. soybean farmers and the industry in terms of net additional returns have far exceeded the cost of the program expenditures over time.

According to USB Audit & Evaluation Committee Chair David Hartke, a soybean farmer from Teutopolis, Illinois, it is one of several tools the checkoff uses to keep farmers' dollars working for them.

"We're always very diligent in making sure that U.S. soybean farmers get the most for their investment," Hartke says. "The ROI study, along with all the other evaluations and reporting we require, ensure that all of our projects remain consistent with our strategy and are working for the good of the farmer."

The results of the most recent soy checkoff request for referendum balloting indicate that farmers know the value of the checkoff. The U.S. Department of Agriculture received 355 request-for-referendum forms from U.S. soybean farmers during May, the month designated this year for the opportunity provided every five years for U.S. soybean farmers to request that a referendum be held on the checkoff's existence. Of those, only 324 were valid, which represents 0.06 percent of all eligible U.S. soybean farmers, falling far short of the 10 percent needed to trigger a full referendum.

The 70 farmer-directors of USB oversee the investments of the soy checkoff to maximize profit opportunities for all U.S. soybean farmers. These volunteers invest and leverage checkoff funds to increase the value of U.S. soy meal and oil, to ensure U.S. soybean farmers and their customers have the freedom and infrastructure to operate, and to meet the needs of U.S. soy's customers. As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.

For more information on the United Soybean Board, visit www.unitedsoybean.org
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ST. LOUIS (May 12, 2014) - A motor oil with a high-oleic-soybean-oil base just took the next step toward commercialization. The oil, tested on more than one million miles in 100 Las Vegas taxicabs, delivered impressive results in tests by demonstrating the ability to extend the life of engines.

Biosynthetic Technologies, the company that developed this technology for the past 5 years, recently achieved certification from the American Petroleum Institute (API) on a motor oil containing 35 percent of a synthetic ester, called an estolide, made from high oleic soybean oil. This certification is expected to facilitate commercialization of the technology. Farmers and other consumers may see this high-oleic-soybean-oil derived product in stores in as little as two years.

"This is a great example of the innovation brought forward by high oleic soybeans," says Lewis Bainbridge, farmer from Ethan, South Dakota, and chair of the United Soybean Board's (USB's) Oil Action Team. "We have to be patient for these new products to come to the market, but this is certainly an encouraging step in the right direction."  

High oleic soybeans, currently grown in select areas of the United States, produce oil that delivers higher stability in high-heat situations. This characteristic makes this soybean oil more attractive to premium industrial users, such as motor-oil manufacturers. That could result in big demand for U.S. soybeans and added profitability for U.S. soybean farmers.

The API certification verifies the motor oil formulated with the biosynthetic ester passed the rigorous standards required for motor oil use, clearing the way for use by motor oil manufacturers. The soy checkoff funded a project with Biosynthetic Technologies to achieve API certification.

"The motor oil market in the United States is approximately 1 billion gallons per year," says Greg Blake, of the Irvine, California-based biosynthetic-oil manufacturer. "High oleic soybean based synthetic oils offer superior performance and benefits to the existing synthetic market and we expect that market to continue to grow."

Motor oils made with the new, high-oleic-soybean-based estolide do not thin out at high temperatures to provide superior engine protection. The estolide also does not evaporate at high temperatures like some petroleum oils, adding yet another benefit to the motor oils. These characteristics offer the potential for longer oil change intervals, as demonstrated in the field tests conducted on taxicabs in Las Vegas.

The 70 farmer-directors of USB oversee the investments of the soy checkoff to maximize profit opportunities for all U.S. soybean farmers. These volunteers invest and leverage checkoff funds to increase the value of U.S. soy meal and oil, to ensure U.S. soybean farmers and their customers have the freedom and infrastructure to operate, and to meet the needs of U.S. soy's customers. As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.

For more information on the United Soybean Board, visit www.unitedsoybean.org
Visit us on Facebook: www.facebook.com/UnitedSoybeanBoard
Follow us on Twitter: www.twitter.com/unitedsoy
View our YouTube channel: www.youtube.com/user/UnitedSoybeanBoard

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U.S. soy family works to continue to build U.S. soy's relationship with China

ST. LOUIS (April 1, 2014) - Farmers representing countries that produce 90 percent of the world's soybeans recently met with the customers who buy 25 percent of the world's soybeans. As part of the International Soy Growers Alliance (ISGA), leaders from the soy checkoff, American Soybean Association (ASA), and the U.S. Soybean Export Council (USSEC) met with customers and government officials in China to discuss the farmers' commitment to providing a safe and abundant supply of soybeans and the importance of eliminating trade barriers.

"China is without a doubt the largest importer of U.S. and South American soy, so it's really powerful when we can stand side-by-side with farmers we usually consider competitors to deliver a message," says Jared Hagert, soybean farmer from Emerado, N.D., and United Soybean Board (USB) treasurer. "Our common goal is to build on these partnerships and strengthen trade relations so we can remain the premier supplier of soy for China."

One trade barrier that concerns soybean farmers is the approval of soybeans improved through the use of biotechnology. While in China, the ISGA delegation will highlight the importance of timely, transparent approval processes of new biotech soybeans to help keep trade moving smoothly.

"There's really no way to overstate just how important the Chinese market is for soybean farmers, not only here in the U.S., but in South America as well," added Ray Gaesser, ASA president and soybean farmer from Corning, Iowa. "The cooperation and coordination of our three organizations - ASA, USB and USSEC - makes our partnership with our South American counterparts possible, and the more we're able to stand together as the world's primary producers of soy, the stronger we can make this trading partnership and the more each of our countries stands to benefit. That's why we're all here, together, in interest of farmers, consumers and stakeholders in each country."

ISGA brings together soybean farmers from South America and the United States to address common issues. Its members include Argentine, Brazilian, Paraguayan, Uruguayan and U.S. soybean farmers.

The 70 farmer-directors of USB oversee the investments of the soy checkoff to maximize profit opportunities for all U.S. soybean farmers. These volunteers invest and leverage checkoff funds to increase the value of U.S. soy meal and oil, to ensure U.S. soybean farmers and their customers have the freedom and infrastructure to operate, and to meet the needs of U.S. soy's customers. As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.

For more information on the United Soybean Board, visit www.unitedsoybean.org
Visit us on Facebook: www.facebook.com/UnitedSoybeanBoard
Follow us on Twitter: www.twitter.com/unitedsoy
View our YouTube channel: www.youtube.com/user/UnitedSoybeanBoard

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ST. LOUIS (March 18, 2014) - March 25 is National Agriculture Day, a day to celebrate American farmers for their commitment to the land they farm and the people who use the food, feed, fuel and fiber they produce. In recent years, U.S. soybean farmers have grown more efficient in growing their crops, increasing yields while decreasing the size of their environmental footprint.

"U.S. soybean farmers aren't just raising a crop for economic gain," says Nancy Kavazanjian, a checkoff farmer-leader from Beaver Dam, Wis. "Like all American farmers, we care so much for our land and we're in it for the long term. So many of us have inherited our land and want to pass it down to our children. Everything we do is centered on making the land better."

More than 95 percent of U.S. soybean farmers participate in farm programs administered by the U.S. Department of Agriculture. And through the use of sustainable-farming practices, U.S. soybean farmers have decreased energy use and greenhouse-gas emissions by more than 45 percent since 1980, and increased irrigation efficiency by more than 40 percent since 1980.

Thanks in part to American farmers, the United States enjoys the most abundant, affordable and safe food supply in the world. And many countries beyond U.S. borders enjoy the bounty of U.S. soybean farmers' annual crop, as well. Both domestically and internationally, the food industry uses the majority of U.S. soybean oil to bake and fry food. And animal agriculture accounts for 97 percent of U.S. soybean meal consumption, using it in feed for the chickens, swine, fish and other animals that contribute to our food supply.

The 70 farmer-directors of USB oversee the investments of the soy checkoff to maximize profit opportunities for all U.S. soybean farmers. These volunteers invest and leverage checkoff funds to increase the value of U.S. soy meal and oil, to ensure U.S. soybean farmers and their customers have the freedom and infrastructure to operate, and to meet the needs of U.S. soy's customers. As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.

For more information on the United Soybean Board, visit www.unitedsoybean.org
Visit us on Facebook: www.facebook.com/UnitedSoybeanBoard
Follow us on Twitter: www.twitter.com/unitedsoy
View our YouTube channel: www.youtube.com/user/UnitedSoybeanBoard

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