PARTNERS IN PROFITABILITY
MSR&PC’s 2024 Annual Report
Partners in production
In the wide world of agriculture, I’ve yet to meet a grower who’s succeeded (or failed) strictly on their own. More than 25,000 Minnesota soybean producers work alongside our families or valued employees; we trust seed and implement dealers to help us get the best bang for our input buck. We also depend on crop advisors, mechanics, banking lenders and grain elevators. We rely on transportation services to bring our goods to market. Our partners in animal agriculture are essential: 97% of all U.S. soymeal is consumed by livestock and poultry. The farmer is merely one link in a vast, complex supply chain that spans the globe, from the farm gate to end user.
While we farmers pride ourselves on our “DIY” spirit, soybeans are a team sport.
The Minnesota Soybean Research & Promotion Council (MSR&PC) shares this same collaborative philosophy. Throughout the past year, our team continued leveraging our checkoff dollars to maximize value and bring profitability back to our farms. Minnesota Soybean has overseen the checkoff program for 50 years; suffice to say, the ag economy has seen its share of peaks and valleys since our state’s first checkoff was enacted in the 1970s. As we look back on Fiscal Year 2024 and ahead to 2025, the ag economy is enduring a downward slope. But with demand for U.S. Soy continuing to grow and diversify, history indicates we are experiencing a blip, not a trend.
While we continue to tackle bold projects, restraint is also imperative. Along with CEO Tom Slunecka, the 15 farmers leading the Council work diligently to ensure your checkoff resources are invested with prudence and purpose. After all, Council directors pay into the checkoff, too, and it is more important than ever that checkoff projects are applied with transparency and vision.
In FY24, we continued coordinating with the United Soybean Board, which oversees the national soy checkoff, to grow new markets and spotlight new uses like SoyFoam and Skechers soy-based shoes. We’re also collaborating with the North Central Soybean Research Program to direct soy checkoff resources toward addressing production challenges across the region. Last fall, we joined the Specialty Soya and Grains Alliance to embark upon a trade mission to Europe’s largest ports and promote the Great Lakes St. Lawrence Seaway as a viable trade route between the Midwest and Europe. Thanks in part to our relationship with USDA, our trade partnership with Uzbekistan prospered in 2024.
While we’re farmer led, the Council also relies on a talented staff of experts to help keep us moving forward. We’re supported by a team of administrative professionals; international marketing and research directors with decades of experience; a top-notch accounting team and a communications division that keeps us on message and in the news.
As you’ll read in our Annual Report, while 2024 brought unrelenting market, production and weather challenges, we succeeded by locking arms with our strategic partners and forging ahead to create more favorable conditions. And while not every checkoff investment proves to be a game changer, our team sticks together through thick and thin.
As Council chair, I thank you for supporting us every step of the way.
Chair, Minnesota Soybean Research & Promotion Council
FY24 FINANCIALS
Total Expenses: $12,775,887
$2,159,613
$1,143,294
$2,715,251
BOARD OF DIRECTORS
Tom Frisch Chair District 4
USB Director Dumont, MN
320-808-1002
TFrisch@mnsoybean.com
Joe Serbus District 5 & 6
Bird Island, MN
507-828-7869
JSerbus@mnsoybean.com
Gail Donkers Vice Chair District 8 Faribault, MN
507-202-2042
GDonkers@mnsoybean.com
Ben
Pat Sullivan Secretary District 5 & 6
Franklin, MN
320-894-5917
BStorm@mnsoybean.com
507-829-8854 joelschr@gmail.com
PSullivan@mnsoybean.com
Ron Obermoller
District 7
Brewster, MN
507-360-4863
RObermoller@mnsoybean.com
Corey Hanson District 1,2 & 3 Gary, MN 218-230-3768
cmhanson@outlook.com
Bill Zurn District 1,2 & 3 Callaway, MN 218-849-5289
BZurn@mnsoybean.com
Rochelle Krusemark District 8 Sherburn, MN
507-236-3625
RKrusemark@mnsoybean.com
Paul Freeman District 4 Starbuck, MN 320-290-9225
PFreeman@mnsoybean.com
Cole Trebesch District 8 Springfield, MN 507-227-3263
CTrebesch@mnsoybean.com
Glen Groth District 9 Ridgeway, MN 507-459-1956
GGroth@mnsoybean.com
Patrick O’Leary District 4 USB Director Benson, MN 320-760-5335
POLeary@mnsoybean.com
Lawrence Sukalski USB Director Only Fairmont, MN 507-236-4880
sukallnd@hotmail.com
FROM FARM TO FIRE
The Council spent FY24 investing in the people who protect our communities with SoyFoam TF 1122, a checkoff investment and fire-smothering agent while eliminating intentionally added PFAS chemicals.
In 2024, MSR&PC attended SoyFoam demonstrations alongside farmer leaders, firefighters and state agency leaders to promote the versatility of soy and showcase a checkoff investment that’s adding value and easing the minds of those on the firefighting frontlines. In 2025, the Council will expand its SoyFoam promotion.
This product, a first-of-its-kind, is certified 84-percent biobased and made with soy grown right here in the U.S. The soy checkoff is doing its part in reducing the use and exposure to PFAS chemicals for our first responders.
- Mike Youngerberg, MSR&PC senior director of product development and commercialization.
RAISING THE ROOF
In 2024, MSR&PC teamed up with the Agricultural Utilization Research Institute (AURI) to promote a soy-based roof sealant made with soy methyl ester emulsion (SMEE). Roof Maxx uses an application of SMEE to replenish the petrochemical oils to restore the shingle’s flexibility, extending its life by five years per application.
5.6 BILLION POUNDS
of landfill waste could be avoided each year if just one percent of single-family homes applied an SMEE product to their roof shingles. Applying SMEE to one home avoids 3.8 tons of waste in landfills.
This is just another example of a great use for our Minnesota soybeans and your checkoff dollars at work creating new demands through the versatility of soybeans.
- Corey Hanson, MSR&PC District 1, 2 & 3 Director
KEEPING IT GREEN
MSR&PC is keen on staying green with checkoff-supported SYNLawn. The Council utilized the soy-based turf to create a one-of-a-kind MiniSoyta golf course at the 2024 Farmfest. The promotion later earned the Council a National Agri-Marketing Association (NAMA) award.
The Farmfest booth highlighted the versatility of soy and how soy checkoff support for products like SYNLawn adds value for soybean farmers and promotes environmental stewardship through the use of plant-based materials such as soybeans.
Biobased products such as SYNLawn contribute over $400 BILLION TO THE U.S.
ECONOMY.
SYNLawn is also PFAS-free and can help reduce water bills by up to 70%.
GROWING FOR THE FUTURE
Comprehensive research efforts have been integral to keeping Minnesota soybean farmers growing the quality soybeans desired around the world. In FY24 the Council continued its investment in the North Central Soybean Research Program (NCSRP). NCSRP is a multi-state collaborative research and outreach effort to support soybean farmers and drive the soybean industry forward.
TWO-THIRDS
of the Council’s funded research projects focused on future problems as the checkoff digs deep to uncover answers today for questions that’ll be asked tomorrow.
In FY24, the Council invested checkoff dollars in OVER 25 agronomic research projects in three project areas – pest management, genetics and other agronomy.
CREATING NEW TECHNOLOGIES
MSR&PC led the charge with a new strategy for Plasma Blue technology in FY24 and beyond by developing its very first unit specifically designed to control PFAS (aka forever chemicals).
Suitable for all types of production facilities, Plasma Blue uses a proprietary technology that drives cold plasma, or non-thermal plasma. This first-ofits-kind reaction hyper-excites electrons, which break apart unwanted chemicals like PFAS or combine chemicals to make higher value products from soybean oil like biodiesel and plastics.
$47B COST of PFAS cleanup in drinking water
$224B COST of PFAS cleanup across the U.S.
3K+ MAN-MADE fluorinated organic chemicals that make up PFAS
With an increasing amount of PFAS chemicals found in Minnesota, MSR&PC is dedicated to supporting Plasma Blue’s mission to break down PFAS chemicals, keeping consumers and the environment safe – all while creating a new market to boost farmer profitability.
- Tom Slunecka, CEO, Minnesota Soybean Research & Promotion Council
SOYBEAN’S GATEWAY
MSR&PC has identified strategic avenues to promote the Great Lakes-St. Lawrence Seaway as the gateway of choice for soybean imports and exports.
In 2024, six Council directors attended a first-of-its-kind ag transportation mission to the Netherlands and Belgium, home of two of the largest seaports in Europe – Rotterdam and Antwerp. They explored the potential for overseas companies to export goods to Minnesota and ship soybeans back to Europe instead of empty containers.
Want an inside look at the Council’s visit to Rotterdam and Antwerp? Scan here to watch
In Minnesota, 60 percent of all the soybeans that we raise get exported, so looking for new markets is key.
- Tom Slunecka, CEO, Minnesota Soybean Research & Promotion Council
LOCAL LEADERS
The soy checkoff supports county soybean associations across the state to ensure checkoff messaging reaches all corners of Minnesota. The county boards promote soybeans in their local communities through 4-H and FFA donations, scholarships, supporting projects, parades, annual meetings and other soybean promotions.
In 2024, the county boards donated soy-based straws to local organizations and businesses to use. These straws are made exclusively with U.S.-grown soybeans, are biodegradable and a sustainable alternative to plastic straws.
The boards also participated in the Behind the Dollar campaign. The campaign highlighted the numerous ways that Minnesota checkoff dollars are invested to increase the profitability of Minnesota soybean growers.
The county program was first established in 1979 when 100 growers gathered in Marshall for the first meeting of the Lyon County Soybean Growers.
44 #1 3 30K
Organized soybean county associations
Minnesota Soybean is the nation’s only state to support county-level soybean boards.
MSR&PC reps work to implement communication and marketing programs
soy straws donated in 2024
We’re grateful to all the organized counties in Minnesota and the directors who serve on those boards. Through their dedication and efforts, we’re able to share how the soy checkoff works on behalf of farmers.
- Tom Frisch, MSR&PC Chair, District 4
MEET & GREET
After the Council moved into its new headquarters in 2024, a new revenue opportunity came to life.
Offsite Meetings and Events is a versatile space that offers casual gatherings or formal business meetings. Southern Minnesota’s new event venue features three customizable and accommodating rental spaces that take the stress out of planning. The building features an auditorium, executive boardroom and a large conference room. Offsite comes with accommodating features for renters to use. There’s ample parking, day-of-staff support, an atrium and a cater-friendly kitchen and dining area.
While the Council and its staff use the space primarily for daily operations, Offsite offers a convenient and accommodating spot for nonprofits, agribusinesses and organizations throughout southern Minnesota.
Auditorium:
• 90-person capacity
• 278” presentation screen
• Commercial overhead door
• Video and voice tracking capabilities with microphones throughout the space
• Storage area
Executive boardroom:
• 24-person capacity around board room table
Large conference room:
OFFSITE
• 37’ x 23’ room
• Video and voice tracking capabilities
• 36-person capacity
• 27’ x 23.5’ room
• Flexible seating arrangements
• Video and voice tracking capabilities
Locking arms
With great challenges come opportunities.
Let’s address the elephant in the room: Our farm economy is on a down swing and that forecast is expected to continue in the year ahead, possibly longer. The agriculture industry ebbs and flows: We’ve been in this situation before, most recently in the 2010s. The Minnesota Soybean Research & Promotion Council (MSR&PC) and our allied partners stand ready to weather the storm and regroup, retool, renew and repurpose.
After all, necessity is the mother of invention. When the ag economy hits a roadblock, we take a belt-and-suspender approach to increasing profitability and building markets despite obstacles. Reduced revenues mean we have to work smarter and harder. Difficult decisions must be made – that’s how leaders lead – but in my experience, nimble organizations can manage downturns and emerge stronger than ever. That’s what the Council is aiming for in 2025. My hope is we’ll look back at the current downturn as a time when our organization became even more resilient, and we created the most prideful work in our history.
One of MSR&PC’s primary goals in not just 2025 but in the coming years is a focus on building a more cohesive, diverse and productive relationship with the leadership and staff at national organizations, including the United Soybean Board (USB), U.S. Soybean Export Council and Specialty Soya and Grains Alliance. We made strides on that front in 2024 when we hosted USB CEO Lucas Lentsch for a meet-and-greet highlighting the myriad projects the Council supports, including historic strides in growing the Uzbekistan market, spearheading a trade mission to Europe’s largest ports, sponsoring cutting-edge production research and promoting the huge potential of SoyFoam.
We’re also fortunate to collaborate with a talented roster of clients at Ag Management Solutions, the group which oversees (and is owned by) the Council and Minnesota Soybean Growers Association. We’ve brought on several new clients in 2024, including the Minnesota Crop Production Retailers, while continuing to enhance existing groups such as Northern Soy Marketing.
Of course, our mission starts with our farmer leaders. Led by Chair Tom Frisch, the Council is dynamic, forward-thinking and willing to take risks without being careless with checkoff resources. This year marks my 13th year as staff lead of this sterling organization, and I grow prouder of MSR&PC with each passing year.
We’re accomplishing our mission inside our new office off Highway 14 in Mankato. After many months of construction, the final phase of our building was completed in spring 2024. Thanks to the Council’s support, we have dozens of offices to house a growing team of professionals; executive board rooms; a state-of-the-art auditorium that can host outside groups; and an environment that’s a hub for innovation. In the year ahead, we anticipate participating in trade missions to grow trade partnerships; launching a SoyFoam awareness campaign; breaking new ground via our research program; continuing to push our messaging via traditional and new media outlets and leveraging our checkoff resources to make those dollars go even further.
As we enter the second half of the 2020s, the Council is well positioned to adapt and thrive in an ever-evolving agriculture industry. The future starts now!
Tom Slunecka CEO, Minnesota Soybean Research & Promotion Council
