Coming out of a record year for soybean exports where 61.65 million metric tons of whole soybeans were sent overseas, many producers may be wondering how we’ll be able to keep up the trend.
Mace Thornton is the Vice President of Communications at United Soybean Board, and he shares how they plan to put soy checkoff dollars to work and keep up with exports.
Thornton says that the boost in exports that everyone saw in 2021 came from USB’s work in diversifying international markets. With disruptions coming from conflicts with China, they shifted gears and focused on other countries such as Vietnam and Indonesia.
USB also saw the importance of improving infrastructure. The invested $2 million into research, planning, and development for dredging the river bottom of the lower Mississippi River. Once the dredging was made possible, it led to 13 cents being saved for each bushel of freight.
Looking ahead at supply, Thornton realizes that there are multiple arenas to keep up with.
“We like to say instead of a food versus fuel situation, we have a situation in the soybean complex that it is food and fuel and beyond, “ shares Thornton.
Thornton explains that there will be 7 new processing facilities that will increase soybean meal and soybean oil production to keep up with demand. He also shares that the USB is working to have a robust presence in the food space as that is where their reputation largely comes from.
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