Home News Michigan Ag News Soy Checkoff Investments Work to Increase Profitability for U.S. Soybean Farmers

Soy Checkoff Investments Work to Increase Profitability for U.S. Soybean Farmers

Soybean field, soybeans

For the first time in more than a year, the United Soybean Board got together in Missouri for its summer meeting to lay out new plans.

“The farmer checkoff investments, we included projects across supply, marketplace and demand action teams; we approved new projects that are designed to drive innovation, increase value and create additional demand for U.S. soybeans,” said Steve Reinhard, director of USB. “Ultimately that results back to profitability for U.S. soybean farmers.”

As for those new projects? The board approved 181 that are being funded by $78 million for the 2022 fiscal year that will begin October 1.

“The neatest projects are looking at soy and how we can include soy in human health [and] nutritional aspects, whether it’s soy products that livestock [consume] and we consume the meat product or it’s a vegetarian-type meal where soy is the base protein,” said Reinhard.

Goodyear Tires have worked with USB to replace petroleum with soybean oil in their products. Now the organization is doing the same with other industries.

“Sketchers shoes, which are very popular, build on that Goodyear discovery, and they’re using it to develop a grip and stability for their Go Run running shoes,” said Reinhard. “Indiana’s worked on concrete durability enhancers for sealing concrete—it’s been popular for bridge decks. There are a lot of things tat we’re using every day that are helping us environmentally and drive demand at the same time.”

Reinhard says some of the goals for the future include reducing land use and soil erosion, increasing efficiency of soybean production, and using the latest tech to improve soil health while increasing economic and environmental sustainability.

“The ultimate aspect is we create a favorable marketing opportunity for our farmers and for their soybeans,” he said. “Along the way, if we can work on these other aspects at the same time, it’s multiple wins for the farmers that pay into the checkoff program.”

To learn more about USB’s priorities, click here.