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The Hidden Signals Behind Soybean Profitability 16 | State Checkoff 04 | The Hidden Signals Behind 16 | State Checkoff 17 | Building Your Farm Soybean Profitability Cropportunities Digital Strategy 04 | THE HIDDEN SIGNALS BEHIND SOYBEAN PROFITABILITY What You Don’t Know About Your Crop Can (and Does) Hurt You. BEYOND THE BEAN STAFF 10 | Research Roundup Pruh#fkhfnrļ0ixqghg#uhvhdufk#Furssruwxqlwlhv#wr#lpsuryh# vr|ehdq#ydoxh#dqg#ghpdqg1# Publisher Qhlo#Fdvnh| INTERNATIONAL SPOTLIGHT 12 | Three U.S. Soybean Export Cropportunities Associate Publisher Nduhq#Sidxwvfk X1V1#vr|ehdqv#qhhghg#wr#ihhg#d#jurzlqj#ghpdqg1# 14 | Clean Exports Start on the Farm Editor Hulq#Gdylv Fklqd#zdqwv#ohvv#zhhg#vhhgv#lq#X1V1#vr|ehdq#vklsphqwv1 FIVE QUESTIONS Editorial Director Mhqqlihu#Uhpvshfkhu 15 | Biodiesel: Fueling Soybean Value Ilyh#txhvwlrqv#iru#Wrp#Yhuu|/#Gluhfwru#ri#Rxwuhdfk/# Qdwlrqdo#Elrglhvho#Erdug1 Dp|#Huodqgvrq# Dxvwlq#Idoolq# STATE & MAIN LmZƬPkbm^kl 16 | Vwdwh#Fkhfnrļ#Furssruwxqlwlhv Odxud#Vplwk Judflh#Zhlq}lhuo GUEST COLUMN 17 | Building Your Farm Digital Strategy Froohfwlqj/#vwrulqj#dqg#vkdulqj#gdwd#khos#errvw#uhwxuqv1 SEND YOUR COMMENTS AND SUBSCRIPTION INQUIRIES TO: [email protected] 18 | More Than Just Herbicide Resistance ru#zulwh#wr#Xqlwhg#Vr|ehdq#Erdug Wdnh#Dfwlrq#h{sdqgv#wr#wdfnoh#doo#shvw#uhvlvwdqfh#lvvxhv# <47#Vsuxfh#Vw1 lpsdfwlqj#vr|ehdq#iduphuv1 Vw1#Orxlv/#PR/#96435 Do you like the great articles and news that you find in Beyond the Bean? Subscribe to Beyond the Bean Extra – the soy checkoff’s email newsletter – to find out more about how the checkoff uses your investment to bring more value to the soybeans you grow. To subscribe to our e-newsletter, visit www.UnitedSoybean.org/subscribe. EXTRA #CROPPORTUNITY FINDING CROPPORTUNITIES FOR U.S. SOYBEANS kh#vr|#fkhfnrļ#zdqwv# derxw#lw1#Uhdg#pruh#rq# Twr#ohw#|rx#lq#rq#d# sdjh#71 FROM vhfuhw#ĩ#vr|ehdq#phdo#lv# Vroylqj#sureohpv#olnh# wkh#gulyhu#ri#wkh#sulfh#|rx# wklv#lvqġw#qhz#wr#wkh#X1V1# THE uhfhlyh#iru#|rxu#vr|ehdqv1# vr|#lqgxvwu|#ru#wr#|rxu# Wklv#phdqv#wkdw#joredo# fkhfnrļ1#Lq#idfw#Ľqglqj# CHAIR dqlpdo#djulfxowxuh/#wkh#wrs# zkhuh#zh#fdq#fuhdwh# frqvxphu#ri#X1V1#vr|ehdq# ehwwhu#rssruwxqlwlhv#iru# phdo/#lv#lpsruwdqw#wr# X1V1#vr|#lv#vr#pxfk#d#sduw# rxu#exvlqhvv1#Zh#qhhg#wr# ri#rxu#exvlqhvv#dw#wkh#vr|# pdnh#vxuh#wkdw#dqlpdo# fkhfnrļ#wkdw#zhġyh# djulfxowxuh#surgxfhuv# frlqhg#d#zrug#iru#lw=# suhihu#ihhglqj#wkhlu# Furssruwxqlwlhv1#Lq#wklv# L#dovr#hqfrxudjh#|rx#wr# zh#jurz#d#orw#ri#lw1# dqlpdov#rxu#vr|ehdqv# pdjd}lqh#zh#h{dplqh# ľls#wr#sdjh#45#dqg#ohduq# Dv#|rxu#vr|#fkhfnrļ/#lwġv# dqg#wkdw#wkrvh#ehdqv#duh# vrph#ri#wkhvh#furssruwx- pruh#derxw#Qruwk#Dvld/# rxu#surplvh#wkdw#zhġoo# phhwlqj#wkhlu#qhhgv1 qlwlhv#wkdw#|rxu#fkhfnrļ# zkhuh#zhġuh#zrunlqj#wr# nhhs#zrunlqj#wr#pdnh# Dv#wkh#zruogġv# frqwlqxhv#wr#vxssruw1 lqfuhdvh#X1V1#vr|ehdq# vxuh#wkhuhġv#d#pdunhw#iru# ghpdqg#iru#phdw/#plon# Wkh#elrglhvho# frqvxpswlrq1#Lq#wkhvh# wkrvh#vr|ehdqv1 dqg#hjjv#lqfuhdvhv/#wkh# lqgxvwu|#zdv#fuhdwhg#e|# wlphv#ri#wudgh#xqfhuwdlq- Wkdqnv#iru#uhdglqj#dqg# joredo#dqlpdo#djulfxowxuh# X1V1#vr|ehdq#iduphuv#wr# wlhv#zlwk#Fklqd#dqg#rwkhu# kdyh#d#vdih#sodqwlqj#vhdvrq1 vhfwru#frqwlqxhv#jurzlqj1# nhhs#vr|ehdq#rlo#iurp# wudglqj#sduwqhuv/#pdlq- Xqiruwxqdwho|/#hdfk# gudjjlqj#vr|ehdq#sulfhv# wdlqlqj#dqg#jurzlqj#rxu# lqglylgxdo#dqlpdo#lv# grzq1#Wxuq#wr#sdjh#48# h{sruw#pdunhwv#lv#surylqj# hdwlqj#d#olwwoh#ohvv#vr|1# iru#dq#xsgdwh#rq#wkh# pruh#lpsruwdqw#wr#vr|ġv# Ohzlv#Edlqeulgjh# Wklv#lv#d#sureohp#iru#X1V1# elrglhvho#lqgxvwu|#dqg# erwwrp#olqh#wkdq#hyhu#dqg# USB Chair vr|ehdq#iduphuv1#Lq#rxu# krz#wklv#krphjurzq# vrphwklqj#|rxu#fkhfnrļ#lv# South Dakota fryhu#vwru|/#zh#orrn#dw# vxffhvv#vwru|#frqwlqxhv# ghglfdwhg#wr#grlqj1 soybean farmer zk|#wklv#lv#kdsshqlqj# eulqjlqj#ydoxh#edfn#wr# X1V1#vr|ehdq#iduphuv# dqg#ohw#|rx#nqrz#zkdw# wkh#idup#jdwh1 jurz#d#juhdw#surgxfw1#Dqg# |rxu#vr|#fkhfnrļ#lv#grlqj# HOW ARE YOU IMPROVING YOUR SUSTAINABILITY AND PROFITABILITY? FENCEPOST Jason Kieser Mike Langseth Reggie Strickland Bloomington, Illinois Barney, North Dakota Mt. Olive, North Carolina Whfkqrorj|#jlyhv#xv# Wkh#dgydqfhv#lq#vhhglqj# Zh#zhuh#rqh#ri#wkh# wkh#delolw|#wr#txlfno|#dqg# whfkqrorj|#wkdw#kdyh# Ľuvw#lq#rxu#duhd#wr# dffxudwho|#pdnh# doorzhg#xv#wr#uhgxfh# frpsohwho|#dgrsw# dgmxvwphqwv#wr#rxu#rshudwlrq#zlwkrxw# wloodjh#ryhu#wlph#kdyh#pdgh#d#kxjh# JSV#}rqh#vrlo#vdpsolqj1#Zlwk#wklv# vdfulĽflqj#wlph#dqg#oderu1#Wkh#lqvwdqw# glļhuhqfh#rq#rxu#idup1#Odvw#|hdu/#zh# whfkqrorj|/#zh#glylgh#hdfk#Ľhog#lqwr# gdwd#dffhohudwhv#rxu#ohduqlqj#fxuyh#dqg# zhuh#deoh#wr#jr#frpsohwho|#qr0wloo# pdqdjhphqw#}rqhv#dqg#frqgxfw#vrlo# doorzv#xv#wr#frqgxfw#pruh#whvwv#dqg# dqg#gluhfw0vhhghg#wkh#hqwluh#idup1#Lq# whvwv#lq#pxowlsoh#vsrwv#wr#ghwhuplqh#d# fkhfnv1#Zh#h{sdqghg#iurp#8330irrw# dgglwlrq#wr#wkh#hqylurqphqwdo#ehqhĽwv/# pruh#suhflvh#dssolfdwlrq#ri#ihuwlol}hu# fkhfn#vwulsv#wr#zkroh0Ľhog#whvwv/# olnh#juhdwo|#uhgxflqj#rxu#srwhqwldo#iru# dqg#olph1#Zh#dovr#ryhuod|#|lhog#gdwd1 surylglqj#odujhu#gdwd#vhwv#wr#pdnh# hurvlrq/#wklv#vdyhg#xv#prqh|#rq#oderu/# zhoo0lqiruphg#pdqdjhphqw#ghflvlrqv1 pdfklqhu|#dqg#ixho1 4 | Follow along at twitter.com/unitedsoy WHAT YOU DON’T KNOW ABOUT YOUR CROP CAN (AND DOES) HURT YOU. By Austin Fallin hrsoh#oryh#shdqxwv1#Wkhuhġv# dqg#mhoo|#vdqgzlfkhv1#Dqg#|hw/#vr|ehdqv# rq#wkh#rwkhu#vlgh#ri#wkh#joreh/#vr|ehdqv# Pqrwklqj#ehwwhu#wkdq#fudfnlqj#shd- gzdui#shdqxw#surgxfwlrq#joredoo|1#Wkh# duh#lq#ghpdqg#ehfdxvh#ri#wkhlu#phdoġv# qxwv#dw#d#edoojdph1#Shdqxw#exwwhu#pdnhv# vxsso|0dqg0ghpdqg#vwuxfwxuh#iru#vr|- ydoxh#wr#wkh#dqlpdo#vhfwru1#Lq#rwkhu# mxvw#derxw#hyhu|wklqj#pruh#gholflrxv1# ehdqv#lv#idu#pruh#frpsoh{#wkdq#wkdw#ri# zrugv/#vr|ehdq#phdo#lv#gulylqj#wkh# \hv/#shrsoh#duh#xqghqldeo|#hqdpruhg# shdqxwv1#Wr#xqghuvwdqg#lw#dqg#lwv#lpsdfw# sulfh#ri#|rxu#vr|ehdqv1# zlwk#shdqxwv/#dqg#wkdwġv#zk|#wkh|#ex|# rq#|rxu#surĽwdelolw|/#|rx#kdyh#wr#glyh# Derxw#:3#shufhqw#ri#d#vr|ehdqġv# wkhp1#Lwġv#hdv|#iru#shdqxw#iduphuv#wr# lqwr#zkdw#pdnhv#|rxu#vr|ehdqv#ydoxdeoh# ydoxh#frphv#iurp#phdo1#Dqrwkhu#5;# frqqhfw#wkh#grwv#ehwzhhq#wkhlu#vxsso|# wr#|rxu#fxvwrphuv1 “THE PRICE THAT FARMERS dqg#wkh#ghpdqg#iru#wkhlu#surgxfw1# Shrsoh#grqġw#kdyh#wkdw#uhodwlrqvkls# Breaking Down the Bean RECEIVE FOR THEIR SOY IS DIRECTLY zlwk#vr|ehdqv1#Wkh#vrqj#grhvqġw#jr#ģex|# Wkh#wuxwk#lv/#wkh#ydoxh#euhdngrzq#ri# IMPACTED BY THE DOWNSTREAM vr|ehdqv#lvqġw#wudqvsduhqw1#Iduphuv# ph#vrph#vr|ehdqv#dqg#fudfnhumdfnv1Ĥ# VALUE OF SOYBEAN MEAL TO Sduhqwv#grqġw#vhqg#wkhlu#nlgv#wr#vfkrro# vhh#wkh#jurvv#sulfh#ri#wkh#zkroh#ehdqv# zlwk#vr|ehdq0exwwhu# wkh|#gurs#rļ#dw#wkh#hohydwru1#Exw# LIVESTOCK AND POULTRY FEEDERS.” wkhuhġv#pxfk#pruh#wr#wkh#vwru|#wkdq# – Chris Schroeder, Centric Consulting Group sulfh#shu#exvkho1 Iduphuv#duh#sdlg#sulpdulo|#edvhg#rq# shufhqw#frphv#iurp#lwv#rlo/#zklfk# wkh#ydoxh#ri#wkh#phdo#vr|ehdqv#surgxfh1# jrhv#wrzdug#irrg#xvhv/#elrglhvho#dqg# Zkhwkhu#xvhg#lq#X1V1#dqlpdo#ihhg#ru# lqgxvwuldo#dssolfdwlrqv1#Wkh#uhpdlqlqj# vklsshg#ryhuvhdv#wr#eh# 5#shufhqw#fdq#eh#dwwulexwhg#wr#wkh#ydoxh# ihg#wr#dqlpdov# ri#vr|ehdq#kxoov1 Like us at facebook.com/unitedsoybeanboard | 5 ģWkh#sulfh#wkdw#iduphuv#uhfhlyh#iru# wkhlu#vr|#lv#gluhfwo|#lpsdfwhg#e|#wkh# grzqvwuhdp#ydoxh#ri#vr|ehdq#phdo#wr# olyhvwrfn#dqg#srxowu|#ihhghuv/Ĥ#vd|v# Fkulv#Vfkurhghu/#gluhfwru#ri#Fhqwuhf# Frqvxowlqj#Jurxs/#d#Ľup#wkdw#frqgxfwv# pdunhw#dqdo|vlv#iru#wkh#fkhfnrļ1 Phdo#ydoxh#lv#edvhg#rq#krz#pxfk# qxwulwlrqdo#frqwhqw#vr|ehdqv#kdyh1#Wkdw/# lq#wxuq/#idfwruv#lqwr#pdunhw#sulfh1#Li#wkh# “ MEAL VALUE IS BASED ON HOW MUCH NUTRITIONAL CONTENT SOYBEANS HAVE. THAT, IN TURN, FACTORS INTO MARKET PRICE.” qxwulwlrq#ri#X1V1#vr|ehdqv#lqfuhdvhv/# pdunhw#sulfh#lqfuhdvhv#+dvvxplqj#doo# rwkhu#idfwruv#uhpdlq#vwdeoh,1# Poultry continues to be the single largest domestic user of soybean meal. The nutritional needs Qrw#rqo|#grhv#qxwulwlrq#dļhfw# of animal ag drive the price of soybeans perhaps more than any other factor. pdunhw#sulfh/#lw#dovr#lpsdfwv#edvlv1# Li#dq#duhd#surgxfhv#vr|ehdqv#wkdw#duh# uhvxow#ri#lqfrph#lqfuhdvhv#durxqg#wkh# Grphvwlfdoo|/#d#vxusoxv#ri#glvwloohuġv# qxwulwlrqdoo|#vxesdu/#iduphuv#lq#wkdw# zruog/#zklfk#kdyh#ehhq#d#nh|#gulyhu#iru# gulhg#judlqv#zlwk#vroxeohv#+GGJV,#iurp# duhd#wdnh#d#klgghq#sulfh#klw#idfwruhg# vr|ehdq#phdo1Ĥ hwkdqro#surgxfwlrq#kdv#dovr#ľrrghg# lqwr#edvlv1 Exw#zlwk#wkh#pdunhw#iru#dqlpdo#ihhg# wkh#olyhvwrfn#ihhg#pdunhw#zlwk# Dqlpdo#dj#lv#X1V1#vr|ġv#qxpehu#rqh# h{sdqglqj/#rwkhu#sod|huv#kdyh#vwhsshg# dydlodeoh#lqjuhglhqwv1# fxvwrphu#dqg#wkhlu#qxwulwlrqdo#qhhgv# xs#wr#fkdoohqjh#X1V1#vr|1 ģWkh#X1V1#lv#uhdoo|#frqvxplqj#ohvv# gulyh#wkh#sulfh#ri#vr|ehdqv#shukdsv# vr|ehdq#phdo#wkdq#zh#glg#Ľyh#ru#vl{# pruh#wkdq#dq|#rwkhu#idfwru1# The Competition |hduv#djr/Ĥ#Edl}h#vd|v1#ģWkh#uhdvrq# Ulvlqj#joredo#ghpdqg#iru#dqlpdo# X1V1#vr|ehdq#phdo#erdvwv#dq#rxwvwdqg- ehlqj#lv#wkdw#zhġyh#kdg#d#orw#ri# surwhlq#lv#dqrwkhu#pdmru#idfwru#dqg#kdv# lqj#sdfndjh#ri#surwhlq/#dplqr#dflgv#dqg# frpshwlwlrq#grphvwlfdoo|#iurp# ixhohg#ghpdqg#iru#vr|0edvhg# hqhuj|#wkdw#phhwv#srxowu|#dqg#olyh- GGJV#iurp#wkh#hwkdqro#lqgxvwu|1Ĥ dqlpdo#ihhg#deurdg1# vwrfnġv#qxwulwlrqdo#qhhgv1#Exw#jurzlqj# Dw#wkh#uljkw#sulfh/#hyhq# ģZkhq#|rx#orrn#dw#wkh#edvlfv/# frpshwlwlrq#lv#d#uhdo#wkuhdw#wr#X1V1#vr|ġv# fdqrod#phdo#fdq#vhuyh#dv#d#vrxufh#ri# vr|ehdq#phdo#lv#xvhg#sulpdulo|#wr# lqfoxvlrq#udwhv#lq#dqlpdo#ihhg1 olyhvwrfn#qxwulwlrq1# surgxfh#dqlpdo#surwhlq/#zkhwkhu#lw#eh# V|qwkhwlf#dplqr#dflgv/#vxfk#dv# ģVr|ehdqv#duh#jhwwlqj#d#orw#ri# vzlqh/#srxowu|/#ru#idup0udlvhg#Ľvk/Ĥ# v|qwkhwlf#o|vlqh/#phwklrqlqh#dqg#wkuh- frpshwlwlrq#iurp#fdqrod#lq#wkh#gdlu|# vd|v#Mrkq#Edl}h/#suhvlghqw#ri#Mrkq#F1# rqlqh/#duh#dowhuqdwlyhv#iru#dqlpdo#qxwul- lqgxvwu|#hvshfldoo|/Ĥ#vd|v#Urfkhooh# Edl}h#dqg#Dvvrfldwhv#dqg#hfrqrplfv# wlrqlvwv#wkdw#kdyh#jdlqhg#srsxodulw|#lq# Nuxvhpdun/#d#XVE#iduphu0ohdghu#iurp# frqvxowdqw#iru#wkh#X1V1#Vr|ehdq#H{sruw# uhfhqw#|hduv1#Wkhvh#glhwdu|#vxssohphqwv# Vkhuexuq/#Plqqhvrwd1#ģWkh#gdlu|# Frxqflo#+XVVHF,1#ģWkh#jurzwk#lq# xvhg#wr#eh#frvw#surklelwlyh/#exw#gxh#wr#d# lqgxvwu|#frqvxphv#mxvw#xqghu#43#shufhqw# ghpdqg#iru#dqlpdo#surwhlq#lv#uhdoo|#d# sulfh#gurs/#wkh|ġyh#ehfrph#pxfk#pruh# ri#rxu#phdo1#Duh#zh#zloolqj#wr#jlyh#wkdw# dwwudfwlyh#lq#phdw#surgxfwlrq1# WHAT REALLY IMPACTS THE PRICE OF YOUR SOYBEANS? There are more factors that go into the price of your soybeans than you may realize.
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