Soy Checkoff Strategizing for Future Investments

Farmer-leaders of the United Soybean Board met recently to define future strategies for the organization focused on strengthening the value and demand of U.S. soy. Each year, the 78 USB Directors determine where to invest checkoff dollars to maximize farmers’ return on investment. Ed Lammers, USB Director from Nebraska, says this year, USB Directors are focused on the organization’s new strategic plan, while USB is in a strong position for the future.

“Our first quarter, which starts October 1 of 2020, the collections were up substantially. And then otherwise, we talked about our new strategic plan that our taskforce is in the middle of coming forward with and then also direction of the 2022 proposals that we will be reviewing and categorizing which is our priorities.”

Nearly 500 proposals were submitted to achieve checkoff objectives in research, education and promotion. The shared goal of all selected proposals is to strengthen U.S. soy’s reputation and competitive advantage when it comes to nutrition, quality and sustainability.

Between now and USB’s next meeting in July, checkoff farmer-leaders will review proposals in detail to determine strategic fit ahead of making their final FY22 project portfolio recommendations.

Lammers says U.S. soy is versatile, with many new uses on the horizon.

“Some of the things we are focused on is biodiesel, of course, asphalt, soybean oil is a new ingredient for asphalt that is green, it’s clean. It’s even longer lasting. And then some soy applicants that cover cement and protects it. There’s just a lot of varieties, you can go into chemical applications, adhesives, it just fits in a lot of places.”

Stay up to date with the latest from the United Soybean Board online at unitedsoybean.org and Wednesday mornings at 10 a.m. ET on RFD TV.