After 20 years of steady successes, the checkoff is now facing a worldwide demand that requires a 50 percent increase in protein by 2030. We must continue striving for even greater yields to meet this growing demand while differentiating our U.S. soy products and services in the global marketplace.
What is the soybean checkoff?
Like producers of other commodities, such as beef, dairy and eggs, soybean farmers collectively invest a portion of their product revenue to fund research and promotion efforts. This collective investment is called a checkoff.
How does the soybean checkoff work?
The soybean checkoff is supported entirely by soybean farmers with individual contributions of 0.5 percent of the market price per bushel sold each season. The efforts of the checkoff are directed by the United Soybean Board, composed of 69 volunteer farmer-leaders often nominated by their state-level checkoff organizations, called Qualified State Soybean Boards (QSSBs). The nominees are appointed to the board by the U.S. Secretary of Agriculture.
How does the soybean checkoff support individual farmers?
Success for soybean farmers in today’s market takes more than just a good harvest. Increasing demand for soybeans is an essential part of the equation. The soybean checkoff helps facilitate market growth and creation by funding and directing marketing, research and commercialization programs. By building demand both at home and abroad, the soybean checkoff helps ensure a strong and profitable future for U.S. soybean farmers.
What’s the difference between the United Soybean Board and the American Soybean Association?
The United Soybean Board (USB) and the American Soybean Association (ASA) are two different organizations with one focus: the success of U.S. soybean farmers. Both groups serve this purpose in different ways. Whereas USB administers soybean checkoff activities focusing on research and market development and expansion, ASA focuses on state and national policy issues, which, by law, the checkoff can’t.
Core Value: The board, with honesty and integrity, collectively and individually, is committed to working within the letter and spirit of applicable law and regulation to achieve maximum value for each soybean farmer’s checkoff dollar.
Mission: Effectively invest and leverage soybean checkoff resources to maximize profit opportunities for U.S. soybean farmers.
Vision: U.S. soybeans will be the leader of the global oilseed industry.
Strategy: Create and maintain partnerships that differentiate and increase the utilization of U.S. soy in a changing global market.
- Meal: Increase the value of U.S. soybean meal to the entire value chain.
- Oil: Increase the value of U.S. soy oil to the entire value chain.
- Freedom to Operate: Ensure that our industry and its customers have the freedom and infrastructure to operate.
- Customer Focus: Meet our customers’ needs with quality soy products and services to enhance and expand our markets.
- Protect and support the U.S. animal agriculture industry.
- Investment in transportation infrastructure.
United Nations Food & Agriculture Organization
To increase profit opportunities for all U.S. soybean farmers, the soy checkoff is dedicated to building preference for U.S. soy. To do this, it’s addressing and meeting end-users’ needs, specifically in the areas of meal, oil and sustainability.
Guiding these efforts is a long-range strategic plan, put in place by checkoff farmer-leaders, that maps out the checkoff’s goals through the value chain in the areas of supply, marketplace and demand.
Focusing on meal, oil and sustainability, the 5-year plan emphasizes soybean innovation for farmer profit opportunities, including continued high oleic development, soybean-meal-quality improvements, and advancement and adoption of technology as part of a commitment toward meeting sustainability demands.
- Core Value: The United Soybean Board works with honesty and integrity to achieve maximum value for the U.S. soybean farmer’s checkoff investments.
- Mission: Maximize profit opportunities for U.S. soybean farmers by investing and leveraging soybean checkoff resources.
- Vision: U.S. soy drives soybean innovation beyond the bushel.
- Strategy: Create and enhance partnerships that increase the value and preference for U.S. soy.