Farmers poised to extend US soy exports on the heels of Soy Connext

August 23, 2024

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Analysis reveals soy from the US is a premium product that will increase operational efficiencies for livestock farms, feed mills and oil crushers

22 August 2024

4 minute learn

With US farmers anticipated to provide 4.6 billion bushels of soybeans for the 2024/25 crop and provide estimates up 11% over final 12 months [1], in line with USDA, the US Soybean Export Council (USSEC) has convened greater than 400 worldwide soy clients to raise a desire for U.S. Soy merchandise and differentiate the standard and worth of U.S. Soy from different diet and vegetable oil merchandise.

This week, USSEC hosts representatives from 62 international locations in San Francisco, Calif., for Soy Connext, the International U.S. Soy Summit. These international locations embody Bangladesh, China, Egypt, Indonesia, Japan, and Mexico and characterize a spread of markets from mature to rising.

“It’s really a humbling expertise to deliver so many key clients from all over the world collectively to fulfill with U.S. exporters and increase their understanding of the worth U.S. Soy presents,” mentioned USSEC Chair Lance Rezac, a soybean farmer from Onaga, Kansas. “In comparison with current years, the value is correct for patrons to learn from U.S. Soy’s many benefits.”

Whereas soybeans are bought as a commodity oilseed, analysis continues to indicate that soy from america is a premium product that will increase operational efficiencies for livestock farms [2], feed mills [3], and oil crushers [4]; introduces higher taste profiles within the soy meals sector [5]; and exemplifies on-farm stewardship and conservation efforts, giving it the bottom carbon footprint [6].

“We’ve all heard the phrase ‘data is energy,’” mentioned Jim Sutter, USSEC CEO. “At Soy Connext, we’re unveiling among the latest information we’ve accessible. We’ve lengthy identified that U.S. Soy presents a superior dietary bundle, however we’ve not been capable of quantify it in a means that’s significant to patrons. At present, we’re demonstrating that it’s attainable, based mostly on our modeling [7], that livestock farms utilizing 100% U.S. soybeans of their feed formulations can unlock $3 million in income.”

USSEC modeling relies on a broiler operation producing 50 million chickens yearly. Sutter added, “USSEC’s technical specialists all over the world are assembly with clients to assist them perceive the variations between U.S. Soy and soy of different origins and the impact these variations can have on feed conversion ratios — an enormous financial affect over the course of a 12 months.”

Because it pertains to sustainability, the International Feed LCA Institute’s database signifies an approximate 20% discount within the carbon footprint of feed when meal used within the feed formulation is created from 100% U.S. soybeans.

Having developed one of many first sustainability verification schemes, referred to as the U.S. Soy Sustainability Assurance Protocol (SSAP), USSEC has been on the forefront of sustainability conversations all over the world.

Final week, USSEC introduced that worldwide clients of U.S. Soy can now request the inclusion of their soy buy’s carbon footprint on their SSAP certificates. This information, sourced from the International Feed LCA Institute (GFLI) database, presents a calculation based mostly on the amount of soy bought and can be utilized of their carbon accounting.

“12 months over 12 months, USSEC is making advances in delivering worth to international U.S. Soy clients by serving to them meet their sustainability objectives,” mentioned Rosalind Leeck, USSEC govt director of market entry and technique. “Along with together with carbon footprint information on SSAP certificates, we additionally license the Sustainable U.S. Soy label to corporations who want to showcase the sustainability of their merchandise. The label is now featured on greater than 1,000 merchandise globally and is acknowledged worldwide as a logo of accountable soybean sourcing.”

The Sustainable U.S. Soy (SUSS) label is used to advertise merchandise containing soy verified by the SSAP.

“We see an increasing number of clients of U.S. Soy requesting to license the SUSS label,” Leeck mentioned. “At Soy Connext, we acknowledged 25 corporations in attendance for his or her dedication to sustainability and their adoption of the SUSS label on their merchandise.”

Just a few of the businesses acknowledged embody Grupo Bios (Mexico), New Anthoney’s (South Asia), Miyoshi Meals Co. (Japan), Sajo Daerim (Korea), PT. Azaki Meals Internasional (Southeast Asia), and TTET Oil Union Corp. (Taiwan).

“USSEC’s groups are encouraging worldwide soy clients to look past the established order,” Sutter mentioned. “At present, almost all the pieces will be measured. The information generated permits us to show the worth of U.S. Soy and unlock revenue potential for patrons.”