Demand for U.S.-grown soybeans will heat up because of the volume needed by China and the biofuels industry, according to market experts analyzing projections from the USDA. Kevin McNew, Chief Economist for the Farmers Business Network, provided analysis for the recent United Soybean Board (USB) and U.S. Soybean Export Council (USSEC) webinar on the November World Agricultural Supply and Demand Estimates. McNew was asked for his take on demand for U.S. soybeans exported to China given talk about Chinese crush margins being tight while there is also a belief that the Chinese might begin to stockpile commodities.
David Iverson maintains a lofty point of view. At six-foot-four, he has a good vantage point from which to survey conditions on the Toronto, South Dakota farm where he’s the fourth-generation steward. The current United Soybean Board secretary also has a huge servant heart. Iverson, with a history of leadership among soybean growers, chaired the American Soybean Association’s World Initiative for Soy in Human Health (WISHH) a decade ago. That position gave him the chance to witness what WISHH was doing in Central America.
Soybean growers had the vision decades ago to invest internationally. At the Global Trade Exchange (GTE), held in August, Jim Sutter, CEO of the U.S. Soybean Export Council (USSEC), said the USSEC focuses on work in many countries around the world to improve nutrition and food security.
In June, the U.S. Soybean Export Council (USSEC) hosted two digital conferences, reaching more than 1,700 customers and soybean industry representatives from the Pan-Asia region. The events – the Pan-Asia Soy Food Summit and Asia Trade Exchange 2020 – demonstrated U.S. Soy’s versatility as both food and feed and highlighted how the soy industry has remained reliable and sustainable since the onset of the COVID-19 pandemic.
South Dakota Soybean Research and Promotion Council Chairman Craig Converse and Treasurer Dawn Scheier traveled to Cambodia and Myanmar to help launch ASA/WISHH’s newest strategic partnership to grow trade and development. Converse and Scheier joined Cambodian and U.S. government officials on January 31 in Phnom Penh for the inaugural event for ASA/WISHH’s U.S. Department of Agriculture-funded Commercialization of Aquaculture for Sustainable Trade (CAST) – Cambodia project.
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.