Soybean Weekly Update

ILLINOIS FARMER PARTICIPATES IN WSJ GLOBAL FOOD FORUM

On October 5, United Soybean Board (USB) sponsored a panel, “Sustainability Starts at the Source” at the fifth annual Wall Street Journal Global Food Forum, which brought together leaders in food production, consumer products, economics, agribusinesses and government to discuss issues in the food industry. USB Director and Illinois Farmer Doug Winter participated in this checkoff-sponsored panel, which focused on how soybean farmers are using sustainable technologies and practices to meet and surpass customer demand. For more information about the panel, contact USB Director George Harper.

WISHH CELEBRATES WORLD FOOD DAY WITH MINI DOCUMENTARY

The American Soybean Association (ASA) World Initiative for Soy in Human Health (WISHH) is sharing its first mini documentary to inspire and inform entrepreneurs about how WISHH works with its strategic partners. The 9-minute video is in conjunction with World Food Day (October 16) and highlights how thanks to these partners, WISHH has been able to pivot their business and market soy-based foods and feeds during COVID-19. The video goes live this afternoon, so be sure to check it out on WISHH’s YouTube channel here.

SOYBEAN PRICES CONTINUE TO SOAR THIS FALL

Soybean prices have been unstoppable and recent factors suggest they will continue to rise this fall. Chad Hart of Iowa State University thinks those factors could continue to support soybean prices in the near-term. Hart states, “We've already booked 1.4 billion bushels for export. And when you look at domestic crush, feeding that livestock industry, all of this is supporting those prices that we're seeing today.” Read more about these soaring prices in the full article here.

HOW IS SOYBEAN HARVEST DIFFERENT IN 2020?

Todd Steinacher interviewed a grain originator with CHS to learn how 2020 soybean harvest is challenging grain elevators. Read the Q&A in Steinacher’s latest article and get the latest in-season, actionable advice at ILSoyAdvisor.com.

GET PREPARED FOR AMMONIA SEASON

Fall is here and as soybean harvest commences at a fast rate, fertilization is next on the "to do" list.  Illinois Fertilizer and Chemical Association (IFCA) is reminding farmers that when conducting application of anhydrous ammonia, it is important to follow the IFCA 4R Code of Practice and University of Illinois guidelines. This also includes safety training. Ag retail employees who need to obtain their certified competent attendant certificates or renew their certificates for this fall's ammonia season can take the online training program to accomplish this regulatory requirement. This is only a temporary certificate that expires on January 1, 2021. The certification training program can be accessed  here.

GENE EDITING: FROM LAB TO FARM

U.S. Soy recently initiated research to identify how gene editing can help farmers produce better crops. With the basic goal on the farm of higher yield and greater quality crop, gene editing has the potential to reduce the amount of inputs needed to achieve these goals, while also giving farmers more peace of mind. Read more about the research behind gene editing and the potential opportunities it brings for the agriculture industry, here.

TRUMP ADMINISTRATION INVESTS IN INCREASING BIOFUEL SALES

U.S. Secretary of Agriculture Sonny Perdue announced that United States Department of Agriculture (USDA) has invested $22 million out of the up to $100 million in grants available to increase American ethanol and biodiesel sales. These funds were made available through the Higher Blends Infrastructure Incentive Program (HBIIP) that helps transportation fueling and biodiesel distribution facilities convert to higher ethanol and biodiesel blends by sharing the costs related to the installation of fuel pumps, related equipment and infrastructure. The USDA will be announcing the remaining HBIIP investments in the coming weeks, but for more information on the current plan read the full release here.

U.S. INLAND WATERWAYS CONTRIBUTE TO SOYBEAN SUSTAINABILITY

U.S. soybean farmers rely on inland waterways to sustainably ship soybeans and soy products to Gulf of Mexico ports for export. According to the National Waterways Foundation, Barge transportation is the safest, most environmentally friendly, economical, and fuel-efficient way to move goods like soybeans for export. Read more about how barges contribute to making inland waterways ideal for sustainable, efficient, cost-effective transportation of agricultural goods here.

MOVING THE NEEDLE TOWARD SOIL & WATER CONSERVATION

There have been many recent announcements around different programs designed to get farmers' attention and move the needle toward soil and water conservation. According to Illinois ag educator Stu Ellis, one of those programs is the Ecosystem Services Market Consortium, a national initiative involved with Precision Conservation Management Program of the Illinois Corn Growers. The program will stack and sell the carbon and water quality credits to meet corporate reporting requirements and improve agricultural resilience. Read more about the other programs that are helping to move the needle in Stu Ellis’ latest Herald & Review piece here.

MORE SOYBEAN OIL FOR BIODIESEL?

In their recent World Agricultural Supply and Demand Estimates report, the United States Department of Agriculture (USDA) increased its forecast for 2020 –2021 soybean oil use in biodiesel production. According to the report, approximately 8.1 billion pounds of soybean oil is expected to go to biodiesel production in 2020-21, up from a projection of 8 billion pounds made last month. To read the full report click here.

UNIVERSITY OF ILLINOIS LAUNCHES REGENERATIVE AGRICULTURE INITIATIVE

The University of Illinois at Urbana-Champaign recently announced the Illinois Regenerative Agriculture Initiative (IRAI), a new home for regenerative agriculture research, education, and outreach. Launching this fall, the goal of regenerative agriculture is to advance the triple bottom line in agriculture – productivity, profitability, and environmental health. IRAI will bring together researchers and stakeholders to create agriculture and food systems resilient to climate change, while working to improve soil and water quality, and enhance food security. Read more on the new initiative here.

REMINDER: ISA AT-LARGE DIRECTOR ELECTION ABSENTEE BALLOTS AVAILABLE

The Illinois Soybean Association (ISA) is pleased to announce that the election for At-Large Directors will be held this year via absentee ballot. Follow the steps below to participate in the 2020 At-Large Director election and read the full press release for more details here.

  • Step 1: Request affidavits via email (ilsoy@ilsoy.org) or by calling 309-808-3603. Be sure to include how many individual affidavits you need and/or how many entity affidavits you need. The last day to request affidavits is Oct. 30, 2020. Affidavits can be distributed by email or U.S. mail. Affidavits distributed by U.S. mail will include a postage-paid return envelope.
  • Step 2: Complete the affidavit and have it notarized. Governor Pritzker has issued an executive order allowing for remote notarization in situations where you don’t want to or cannot see a notary in person. You can read the Executive Order here.
  • Step 3: Return the completed, notarized affidavit to ilsoy@ilsoy.org or via mail to Illinois Soybean Association, Attn: Director of Operations, 1605 Commerce Pkwy, Bloomington, IL 61704. If returning by email, the affidavit must be received by Nov. 6, 2020. If returning by U.S. mail, the affidavit must be postmarked by Nov. 6, 2020.
  • Step 4: Once the office has received your completed, notarized form, an absentee ballot will be sent immediately. Included will be information on how to access short video clips where you can “meet the candidates.” Ballots distributed by U.S. mail will include a postage-paid return envelope. If returning by email, the ballot must be received by Nov. 20, 2020. If returning by mail, the absentee ballot must be postmarked by Nov. 20, 2020.

UNIVERSITY OF ILLINOIS RECEIVES $4 MILLION FOR CONSERVATION

A University of Illinois research team, led by Agricultural and Consumer Economics Professor David Bullock, received a $4 million award from the USDA’s Natural Resources Conservation Service (NRCS) to implement on-farm conservation practices. The U of I project is entitled “Improving the Economic and Ecological Sustainability of US Crop Production through On-Farm Precision Experimentation” and will implement tools to help farmers conduct site-specific, data-based evaluations of the yield costs of reducing nitrogen losses and enable data-informed input management decisions. Read more about the program and the awards here.

ILSOYADVISOR TWEET OF THE WEEK

In 2019, 38 grain entrapment cases were reported nationwide. @ILAgriculture urges farmers and other agricultural workers to put safety first this harvest season, especially when working around grain-storage facilities. Learn more safety tips here: https://bit.ly/3nvbz2a

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