Soybean Weekly Update

SOYBEAN CHECKOFF BRINGS RESEARCH FINDINGS DIRECTLY TO FARMERS

The soy checkoff’s latest collaboration brought together Qualified State Soybean Boards (QSSBs), including Illinois Soybean Association, to find new ways to maximize the results of checkoff-funded research projects. The result was a redesigned Soybean Research & Information Network (SRIN) website to directly provide farmers with virtual resources and toolkits for more efficient soybean production. Check out this new one-stop shop for all the information the checkoff has discovered at soybeanresearchinfo.com.

ROUND TWO OF CFAP RELIEF PAYMENTS EXPECTED NEXT MONTH

According to Bill Northey, the U.S. Department of Agriculture’s undersecretary for farm production and conservation, farmers can expect to receive the remaining 20% of their relief payments through the Coronavirus Food Assistance Program (CFAP) by the end of August. In a recent Agri-Pulse piece, Northerly added that there should be enough money on hand to give farmers what they are due. To read the full piece, click here.

DID YOU KNOW SOY-BACKED GRASS GROWS IN CHICAGO?

SYNLawn, an industry leader in artificial landscape grass for residential and commercial applications, recently started working in the Chicago area to install soy-backed grass lawns throughout the city. One example can be seen below from St. Clement, a historic Catholic school in Chicago, that now offers its students a chance to play in grass made from soy. Chicago isn’t the only place you can find SYNLawn’s soy-backed grass. The company has used U.S. soy in more than 70 million square feet of their artificial grass, which is used everywhere from New York City’s Central Park to the rocket launch at Kennedy Space Center. Check out SYNLawn’s site here for more information.

WHAT WE’RE READING THIS WEEK

This week, we’re reading about the market bright spot that is soybeans in a Farm Journal Ag Web article, Oil Leads the Way. The piece discusses how the bean oil market has moved into higher highs again after a very impressive performance last week, and how it has reached back to the highest point traded since February. Earlier this month large speculators sold over 14,000 contracts of soy oil. To read the full piece and more about the bean oil market click here.

LOOK BEYOND CASH RENT: GROWING YOUR LEASED ACRES

Jonah Kolb, Managing Member of Moore & Warner Ag Group, LLC in Clinton, Illinois, will present on this topic on Wednesday, July 29 at 10 a.m. This session will help you think about how to position yourself as the farmer and counterparty of choice for farm managers and farmland investors and is part of ISA’s Agribusiness Management Program (AMP) summer webinar series. It’s sure to be an educational and insightful webinar. Learn more about this free session and register for the entire series at ILSoyAdvisor.com.

FARM PROGRESS SHOW GOES VIRTUAL

To fill the gap created by the cancellation of this year’s Farm Progress Show and Husker Harvest Days, Farm Progress is launching the first ever Farm Progress Virtual Experience, or FPVX. This online event will run from Sept. 15 to 17 and focus on bringing farmers a unique experience and engaging with them in real time. The event will have over 500 exhibits farmers can visit from their computers, smart phones, tablets, and any other tech device. Visit Marketing.FarmProgress.com for more information. 

IMPACT OF COVID-19 ON AQUACULTURE

Despite the impact of COVID-19, aquaculture demand is growing globally. George Chamberlain, president of the Global Aquaculture Alliance (GAA), shared this insight and more on the state of the aquaculture industry during a recent U.S. Soybean Export Council (USSEC) digital conference titled, COVID-19 and the Implications to Aquaculture. Learn more about how COVID-19 has impacted aquaculture and its supply chain here.

ALL ABOUT NODULES

Soybeans are self-sufficient in their ability to fix a large percentage of their own nitrogen, a unique ability provided to them by nodules. CCA Soy Envoy Ashley McEwen covers some important information and tips on nodules for growers in her latest blog article. Read McEwen’s article and get the latest in-season, actionable advice at ILSoyAdvisor.com.

ISOFLAVONES IN SOY HELP PROTECT PIGS AGAINST VIRAL INFECTIONS

A new study from the University of Illinois shows that pigs that eat soybeans as a regular part of their diet may be better protected against viral pathogens. The researchers attribute this outcome to isoflavones, a natural compound in soybeans. University of Illinois Associate Professor and co-author of the study Ryan Dilger says while there is evidence that feeding soy helps protect pigs against the disease, researchers are still trying to uncover why and how this works. To read the full findings from this study, click here.

BUILDING A CONSTRUCTED WETLAND

For more than 80 years, USDA’s Natural Resources Conservation Service (NRCS) has worked alongside farmers to create conservation practices that protect both soil and water. One practice, called “Constructed Wetland,” has become more popular in the last few years as an effective way to remove nitrates and other nutrients from tile drainage water. The latest edition of the Illinois NRCS Conservation Under Construction video series, “Building a Constructed Wetland,” provides an inside look at what it takes to construct this conservation solution. Watch the full video here.

THE VALUE OF RED MEAT TO U.S. SOY

The U.S. Meat Export Federation (USMEF) released an updated version of a 2016 independent study aimed at quantifying the value red meat exports provide to U.S. corn and soybean producers. Among other findings, the updated study found that in 2019, pork exports contributed 9% of the per bushel price of soybeans ($0.76/bushel) of an annual average price of $8.43. Handouts detailing the key findings and the impact of red meat exports on the leading soybean-producing states are available on the USMEF website.

FIVE YEARS OF NLRS

The Illinois Nutrient Loss Reduction Strategy (NLRS) was released five years ago this week. To thank all the nutrient stakeholder partners who give their time and resources to implement the strategy, Illinois NLRS invites you to watch their anniversary video, “NLRS By the Numbers,” and join in celebrating five years of hard work as they continue toward their goal. You can also visit IlSoyAdvisor for ideas on how you can help meet the NLRS goals.

CONSERVATION & FARMLAND LEASING WEBINAR

Many landowners and farmers want to engage in more conservation practices but may not know how to start conversations. Presenter Gary Schnitkey will cover owner-tenant relationships related to conservation, nutrient management and cover crops in this Aug. 20 webinar. The information is brought to you by the Illinois soybean checkoff and Illinois Corn Marketing Board, funded by a grant from The Nature Conservancy. Learn more and register for the webinar online.

ILSOYADVISOR TWEET OF THE WEEK

Have you checked your fields for #SCN this season? Watch this video from @IowaSoybeans with @GregTylkaISU about how to scout your #soybeans. https://bit.ly/2OEJjKa

See more tweets from @ILSoyAdvisor and “follow” along on Twitter.