Pandemic Highlights Value of U.S. Soy

By Gordon Denny

U.S. agriculture consistently produces efficient, sustainable and safe food and feed. This remains true despite the challenges presented by COVID-19. U.S. soybean farmers are maintaining their focus on continuous improvement as they rise to meet consumer demand, manage weather obstacles and supply food, feed and fuel to a growing world.

The unique advantages of U.S. soybeans and soy products, including soybean meal, soybean oil and soybean hulls, continue to deliver value to customers around the globe. Efforts and industry information shows that U.S. farmers raise reliable, cost-effective, nutritious, sustainable soybeans.

Reliable Supply
Through the soy checkoff, U.S. soybean farmers demonstrate their commitment to help end-users optimize all forms of U.S. soy products. They expect to plant what could be the second-largest soybean crop in U.S. history in 2020, ensuring a reliable soybean supply.

Large soybean production regions with diverse weather allow the U.S. to produce a consistent supply. And average soybean yields continue a trend of improvement, all ensuring the availability of soybeans and soy derivatives.

And, U.S. soybean crushers are continuing to operate steadily, generating soybean meal and oil. They have recently invested hundreds of millions of dollars in new capacity and increased high-quality production. The U.S. also has a significant amount and wide variety of transportation options to move soybeans and soy products from fields to customers. Trucks, river barges, railways, containers and ocean vessels combine with hundreds of loading locations owned by multiple industry members to get soy to many ports that have cost-effective ocean access.

Cost-Effective Commodities
These advantages come at a fair price. The U.S. soybean industry offers market-based, transparent and hedgeable prices. Due to the industry’s competitive nature, U.S. soybean meal and soybean oil remain competitively priced compared to world markets and other food and feed ingredients. The U.S. delivers efficient economics of scale.

While some other food and feed ingredients have been impacted by crude oil prices or logistics challenges, high-quality U.S. soybeans and soy products are available at a competitive price. For example, soybean oil provides a cost-effective energy source for both feed and biodiesel.