USSEC and the U.S. Grains Council (USGC) jointly organized the 16th Southeast Asia U.S. Agriculture Co-operators Conference in Kota Kinabalu, Malaysia from August 5 to 8. This year’s conference theme, “The New Normal For Global Agribusiness,” highlighted the current changes and challenges faced by agribusinesses today and provided strategic insights from a distinguished panel of U.S. ag leadership and subject matter experts.
Farmers from across the country anxiously awaited Ag Secretary Sonny Perdue’s detailed aid package earlier this week. For South Dakota Soybean Association (SDSA) the announcement was met with appreciation, yet caution. The $1.65 per bushel payment outlined for 50 percent of soybean production was by far the highest payment for any commodity. Now, South Dakota soybean leaders, Brandon Wipf and Jerry Schmitz are focused on what comes next.
The South Dakota Soybean Association (SDSA) joins the American Soybean Association (ASA) in calling on President Trump to reconsider Chinese tariffs which have caused soybean markets to drop nearly 40 cents a bushel this morning.
Following reports from Commerce Secretary Wilbur Ross that the department will recommend tariffs on imported steel and aluminum as a result of its ongoing investigation under Section 232 of the Trade Expansion Act of 1962, soybean farmers have voiced their concern about the potential for retaliation against U.S. soybean imports by the Chinese.
South Dakota soybean growers are encouraged to apply for the 2018 See For Yourself export tour to Mexico. The experience is hosted by the South Dakota Soybean Research & Promotion Council (SDSRPC). Ten farmers will be selected to travel to Mexico, February 18-24, 2018, where they will experience first-hand how the South Dakota soybean checkoff is working for them in the country.
Most soybean farmers probably don’t think much about what happens to their soybeans once they leave the farm gate. Because more than 60 percent of South Dakota’s soybean production is exported, there is a good likelihood that some may make their way to the largest bulk cargo handling facility in all of Asia. South Dakota farmers got a first-hand look at the port and met with soybean processors operating in the port to learn more about their operation and purchasing considerations.
Being the world’s largest soybean customer has its advantages. China’s 90 million metric tons (3.3 billion bushels) per year soy appetite means every soybean-producing country has their eyes on China. But not all soybeans are created equal.