Soybean Checkoff Reflects on Achievements of Past 20 Years

This year marks the 20th anniversary of the soybean checkoff, and an opportunity to reflect on how U.S. soybean farmers have been able to control their destiny and become major players in the global soy industry over the last two decades.

When the soybean checkoff began in 1991, the average U.S. soybean yield was 34.3 bushels per acre. In 2009, U.S. soybean farmers produced a record average 44 bushels per acre. U.S. soybean farmers produced only 1.98 billion bushels of soybeans back then. Checkoff-funded production research helped U.S. soybean production grow to a record 3.3 billion bushels in 2010. USB farmer-directors on the organization’s Production Research Committee provided checkoff funds for research that helped play a part in that increase, and future checkoff efforts aim to improve yields to 59 bushels per acre by 2030.

The increase in soy biodiesel usage represents another step forward for the soybean industry.  The soybean checkoff supports research and promotion of soy biodiesel through the National Biodiesel Board. In 2004, the biodiesel industry sold 25 million gallons of pure biodiesel. In 2009, production reached about 545 million gallons and could top 800 million gallons this year.

Another milestone for the soybean industry has been the growth of U.S. soy exports. According to the U.S. Department of Agriculture, soy represents the No. 1 U.S. agricultural export, valued at $21 billion in 2010. In 2009-2010, the U.S. exported more than 1.45 billion bushels of whole soybeans, 428 million bushels of soybean meal and 1.4 million metric tons of soy oil. 2010 represented the fourth year in a row in which U.S. soy set a record for exports, and this year appears to be shaping up for a strong U.S. soy export year as well.

The soybean checkoff wants to provide the most value to all soybean farmers for their checkoff investment. According to the most recent study, required by law to measure the return on investment farmers receive from the soybean checkoff, the checkoff adds $6.40 in additional profits to each U.S. soybean farmer for every dollar invested.

The checkoff also conducts a statistically valid, national survey of U.S. soybean farmers twice every year as a way to evaluate its programs and help create new ones. In the latest USB Soybean Producer Attitude Survey, conducted by an independent, third-party organization last February, 78 percent of U.S. soybean farmers participating said they support the checkoff. The survey company interviewed approximately 1,000 soybean farmers and has a margin of error of ±3.1 percent.

The United Soybean Board (USB) will recognize the checkoff’s first 20 years ahead of its annual meeting on Mon., December 5, in St.  Louis.