What to do with all of these soybeans?

Building demand for U.S. soybeans has been a critical goal of the soybean checkoff program since its inception nearly 50 years ago.

When the checkoff program in Iowa began in 1971, total production of soybeans in the U.S. was just over 1.2 billion bushels and the average national yield was around 27-29 bushels per acre. Soybeans were processed mostly for domestic use (vegetable oil and livestock feed), although efforts were underway to increase exports as production begin to exceed consumption in the U.S.

Due to the investments from state soybean checkoff programs and an increased partnership with U.S. Department of Agriculture (USDA) export assistance programs, soybean exports began to expand rapidly in the 70s. In fact, in 1979 soybeans became the No. 1 export crop by value in the U.S., a position we have maintained ever since. By 1978, the U.S. exported more soybeans than we had produced in 1967.

The growth in global consumption and production of soybeans has continued to skyrocket. The U.S. just harvested 4.6 billion bushels — a number that was likely unimaginable to the farmers who created the soybean checkoff in Iowa so many years ago.

In addition to the need to increase exports, one of the key reasons a national checkoff program was created in 1991 was to dramatically increase investments in finding new uses for soybeans and soybean products. Farmers understood that while the global demand for vegetable oil and soybean meal was going to continue to grow, they also knew that with ever-emerging technologies, farmers would continue to produce more soybeans in the U.S. and in other countries around the globe.

Checkoff dollars have been used to launch the biodiesel industry and to develop and test new soy-based lubricants, paints and plastics, to name just a few. This issue of the Iowa Soybean Review is focused on some of these new uses and how soybean checkoff dollars are being used to develop and support these new products.

Another key growth opportunity for soybean farmers is in aquaculture. As new regulations, over fishing and increased demand for sustainable and plentiful protein cross the globe, farmer aquaculture is finding a foothold. By 2030, it’s estimated fish production will need to increase by 44 percent to meet demand. Today, 40 percent of the global population relies on fish as their primary protein, and in the U.S. nearly 90 percent of our seafood is imported. Soybeans bring a nutritional feed source that meets the needs of the aquaculture industry while creating significant new demand for Iowa and U.S. soybeans.

With a record carry-over of soybeans, the need for marketbuilding activities funded by the soybean checkoff is more critical than ever before. Developing new uses for soybeans will remain an essential strategy.

Kirk Leeds

Chief Executive Officer, Iowa Soybean Association kleeds@iasoybeans.com, Twitter@kirkleeds