What are the most impactful trends for the US soy industry in the coming years?
New traits and market-ready varieties will be required to meet this shift in market demand – without sacrificing yield.
We caught up with Steve Pitstick, soy farmer and Illinois Soybean Association (ISA) chairman, to hear how the US soy checkoffs are proactively addressing soy market shifts, including investment in programs at both the national and state levels to find new markets, new uses and new characteristics of soybeans.
Indeed, a newly released publication, funded by the soybean checkoffs in Iowa, Missouri, Illinois, Indiana, and Ohio, looked to outline the biggest potential shifts for US soy so that farmers, commodity organizations, and industry allies can best position themselves for success.
The Future State of Soy report identifies 5 key trends for the sector
- A rising focus on high-quality soybean oil and meal
- The increasing need for protein given a growing global population – both in animal and plant form
- Growing global competition for soy and how infrastructure can provide an impactful advantage
- Changes in fuel demand, including alternative fuels, and emerging fuel uses
- New and diversified revenue streams that will offer farmers more opportunities
Pitstick tells us about the work being done by geneticists and agronomists to understand specific traits that are in high demand and better outline what future soybean varieties are needed in the US.
He also discusses US infrastructure improvement projects in play to ensure plain sailing for soybean exports, what is being done to expand their reach in the global market, and how sustainable the US soy growing sector is today.
