Weekly Update

Soybean Weekly Update- October 7, 2016

October 06, 2016



Is 2016 Another Soybean Yield Record Year?

Harvest is underway, and we’ll soon know if Illinois will set another soybean yield record.  In 2014, Dan Arkels produced 104-bushel beans in north central Illinois, and last season, Jason Lakey reached 108 bushels in central Illinois.  It has been a favorable weather season in most parts of the state.  With more than 100 farmers signed up for the 100-bushel challenge, chances are good more 100-plus bushel yields will be recorded.  While ISA waits for final results, head to http://ilsoyadvisor.com/ for tons of great information, including recent videos from 100-bushel record breaker Dan Arkels.

USDA Payments Underscore Safety Net Function and Necessity

Following USDA's announcement this week of more than $7 billion in payments to farmers through the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs as a result of losses and market impacts in 2015, American Soybean Association (ASA) President and Greenwood, Del., farmer Richard Wilkins pointed to the payments as a key function of the federal farm safety net.  "We are in the second year of falling prices and while payments have increased, they are only a band-aid. Through our industry organizations like ASA, we need to redouble our efforts to improve market conditions so that farmers can return to profitability.  With prices for soybeans, corn and wheat down 40 percent since 2013, farmers need the income support provided under the 2014 farm bill."

ISA Checkoff Program Funds Fact-Finding Trip to Cuba for Poultry Industry

Four national U.S. poultry and egg organizations were part of a delegation representing the poultry, egg and U.S. soybean industries on a fact-finding trade mission in Cuba last week.  The ISA checkoff program and the Iowa Soybean Association, funded by the soybean checkoff, backed the mission, which provided a greater understanding of Cuba’s food distribution system and issues such as biosecurity, food safety and nutrition. The multi-commodity mission was the first foray into Cuba funded entirely by the soybean checkoff program since the U.S. began normalizing relations with the country earlier this year.  Since the U.S. government authorized limited exports of U.S. agricultural products to Cuba in 2000, it has become the fourth-leading export destination for U.S. poultry by volume.  The poultry and egg industry consumes more than half of the soybean meal produced in the United States.

Good News for Biodiesel as Minnesota Mandate Stands

On Sept. 29, a federal judge ruled that Minnesota’s biodiesel mandate does not conflict with the federal Renewable Fuel Standard (RFS).  The National Biodiesel Board supports the ruling, as it will help reduce carbon emissions, provide green jobs, help states transition to renewable energy sources and support the path to energy independence.  The ISA checkoff program supports NBB.  The case was filed by petroleum interest groups in April 2015.  They argued that the mandate was in conflict with the RFS. 

ISG Takes New Direction with Membership Program

Beginning this month, Illinois Soybean Growers (ISG) will increase its focus on policy issues affecting Illinois soybean producers to keep positive legislation in place and motivate leaders to add new policies that ensure American agriculture is not destroyed by anti-ag activists.  One of the core resources that makes our country great is the ability to produce our own food and fuel.  Yet every year, thousands of family farmers are pushed off their land due to new taxes, regulations and legislative pressures. 
How do you keep Capitol Hill from impacting the income you use to support your family?  How do you stop them from putting obstacles in your way?  To bring growers the most value possible, we now have two membership options.  Membership in ASA is included.
Become an ISG Policy Member and Take a Stand.  Activate your power to join us in educating people about the facts and importance of American agriculture.  Help us be the people that government officials stop and listen to in Springfield and Washington, D.C.  Be a driving force for change.  The more members we add, the louder our voice becomes.  Our policy membership keeps you informed, gets you involved and gives you added discounts and benefits.  A one-year membership is $150 and a three-year membership is $300.  Benefits from ISG and ASA include the following:
  • Automatic enrollment and Acton Alert emails from ISG’s Voice for Soy Action Network
  • Invitations to legislative networking events
  • Opportunity to participate in the ISG Political Action Committee
  • Expanded policy representation/advocates in Springfield and Washington, D.C.
  • Discounts on new Ford, Chrysler and GM vehicles
  • 10% discount on Cabela’s gift cards
  • 10% discount on any new DTN/The Progressive Farmer product or service agreement
  • Discounts on Commodity Classic registration
  • Discounts on DTN/The Progressive Farmer Ag Summit registration (December in Chicago)
  • Complimentary subscriptions to three top soybean magazines:  Illinois Field & Bean, American Soybean and The Progressive Farmer
  • Email updates from the Soybean Weekly Update and eBean News
Become an ISG Regular Member if you just want to stay informed about the agriculture industry. Simply supply your name and email address and you receive the Soybean Weekly Update sent via email and the Illinois Field & Bean magazine (eight times per year).  Contact Judy Smith at smithj@ilsoy.org, 309-808-3612 or 888-826-4011 to join or renew membership.

Help Turn up the Volume with ISGPAC

As the 2016 general election season is in full swing, Illinois soybean farmers are invited to turn up the volume with the Illinois Soybean Growers Political Action Committee (ISGPAC).  ISGPAC provides farmers with strong involvement in political races, and a direct pipeline to tell senators and representatives about the issues that matter most to Illinois farmers:  transportation efficiency, expanding animal agriculture, worldwide market access support, plus biodiesel, trade, energy, taxes and agricultural research.  Farmers can directly support legislators who take a leadership role on soybean priorities and policies.  ISGPAC helps nurture those relationships and keeps key contacts in office where they work for the industry's best interests.  To contribute, visit ISGPAC online or contact Judy Smith at 309-808-3612 or smithj@ilsoy.org.

ASA Seeks Scholarship Candidates

The American Soybean Association (ASA) is looking for applicants for its Soy Scholarship.  The $5,000, one-time award is presented to a high school senior who plans to pursue agriculture at any accredited college or university in the 2017-18 academic year.  The scholarship is managed by ASA and made possible through a grant by BASF Corporation.  High school seniors may apply online now through Nov. 21, 2016.  The student must be a child or grandchild of a current state affiliate and ASA member, maintain successful academic progress and be in good standing with the college or university to receive the full amount of the scholarship.  Final selection will be made in December during the ASA Board meeting.  The student will be notified prior to an official announcement made during Commodity Classic in San Antonio, March 2-4, 2017.  More information is available from ASA.

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