The 78 farmer-leaders of the United Soybean Board approved new projects designed to drive innovation, increase value and create additional demand for U.S. soybeans. The goal ultimately is to increase profitability for U.S. soybean farmers. During the organization’s summer board meeting this week, leaders approved 181 new checkoff-funded projects with a total budget allocation of $78 million, for the 2022 fiscal year, starting October 1, 2021.
Projects are considered and reviewed based on alignment with the checkoff’s overall objectives for supply, marketplace and demand across the target areas of soybean meal, oil and sustainability. USB CEO Polly Ruhland states, “U.S. soybean farmers remain steadfast and resilient in their pursuit to produce sustainable, high-quality soybeans that are preferred by customers.” Specific projects focus on supply oil, recouping lost demand in the edible soy oil market and expanding to markets elsewhere by supplying high oleic soybean oil.
Other top priorities include marketplace sustainability and soybean meal demand.