Russ Carpenter Chair United Soybean Board USB Communications Program to the National Farmers Union Beginning Farmers Institute September 2011 Soybean Opportunities Carpenter Family Farm Crop and beef cattle ID: 602048
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Soybean Opportunities for U.S. Farmers
Russ Carpenter, Chair
United Soybean Board (USB) Communications Program
to the
National Farmers Union
Beginning Farmers Institute
September, 2011Slide2
Soybean Opportunities
Carpenter Family Farm
Crop and beef cattle
Trumansburg, N.Y.Population: 1,600New York, N.Y.Population: 8.2 millionSlide3
Soybean Opportunities
New York State Fair, Aug. 25 - Sept. 5, 2011
Syracuse, N.Y.Slide4
Soybean Opportunities
Percentage Change in Global Consumption: 1990-2010
Source: John Baize & Associates
Soybean demand up 145%; corn up by 76%, wheat up by only 21%Slide5
Soybean Opportunities
International
Marketing
More than every other U.S. row sold abroadAnimal ag use is largest use Domestic MarketingU.S. animal ag: 98% soybean mealpoultry, pork, dairy, beef, fish
Food use: 83% of soybean oilSoy biodiesel: 11% of soybean oilOther: 6%
Know Your Customer, FirstThink beyond your local elevatorSlide6
Soybean Opportunities
Under Contract for
Specific Use
Trait-enhanced U.S. soybeanswww.QUALISOY.com Premium ProgramsExamples: food-grade, non-biotech, otherswww.SoybeanPremiums.orgSlide7
Soybean Opportunities:
My Views
Rotational Crop to
Income Crop1.98 billion bushels in 19913.3 billion bushels in 2010Futures & OptionsManage riskI forward contracted only 20% this yearKnow Your Customer, FirstLocation, location, location!
Eastern U.S. is soy deficientLargest acreage growth in Upper MidwestSlide8
Soybean Opportunities:
My Views
Expect the
UnexpectedHuge competition for landWeather DiversifyCarpenters: soybeans, corn, cattle, hayManage DebtIf not, it could will bring you downSlide9
Soybean Opportunities:
My Views
Utilize
multiple sources of info.Print, radio, TV, InternetGet Involved!Qualified State Soybean BoardsUnited Soybean BoardSoybean checkoff: www.UnitedSoybean.orgSlide10
Soybean Opportunities
United Soybean Board (USB)Long-Range Strategic Plan
Strategic Objectives
U.S. Soybean Mealincrease valueU.S. Soybean Oilincrease valueFreedom to Operate
freedom and infrastructure for us to operateCustomer Focusquality U.S. soy products and servicesSlide11
Current USB Priority Issues
Short-term
opportunities, challenges in need of
immediate attention by checkoffProtect & Support U.S. Animal AgTransportation InfrastructureSlide12
Soybean Opportunities
USB Impact Projects
1. Identify
Genes Affecting Yield2. Export Market DiversificationSlide13
Soybean Opportunities
Profit opportunities for
all
U.S. soybean farmers!