Soybean Opportunities for U.S. FarmersRuss Carpenter, Chair

United Soybean Board (USB) Communications Program

to theNational Farmers Union

Beginning Farmers InstituteSeptember, 2011

Soybean OpportunitiesCarpenter Family Farm

Crop and beef cattleTrumansburg, N.Y.

Population: 1,600

New York, N.Y. Population: 8.2 million

Soybean Opportunities

New York State Fair, Aug. 25 - Sept. 5, 2011Syracuse, N.Y.

Soybean OpportunitiesPercentage Change in Global Consumption: 1990-2010

Source: John Baize & Associates

Soybean demand up 145%; corn up by 76%, wheat up by only 21%

Soybean OpportunitiesInternational Marketing

More than every other U.S. row sold abroad

Animal ag use is largest use

Domestic Marketing U.S. animal ag: 98% soybean meal

poultry, pork, dairy, beef, fish

Food use: 83% of soybean oil Soy biodiesel: 11% of soybean oil Other: 6%

Know Your Customer, First Think beyond your local elevator

Soybean OpportunitiesUnder Contract for Specific Use

Trait-enhanced U.S. soybeans

www.QUALISOY.com

Premium Programs Examples: food-grade, non-biotech, others

www.SoybeanPremiums.org

Soybean Opportunities: My ViewsRotational Crop to Income Crop

1.98 billion bushels in 1991

3.3 billion bushels in 2010

Futures & Options Manage risk

I forward contracted only 20% this year

Know Your Customer, First Location, location, location!

Eastern U.S. is soy deficient

Largest acreage growth in Upper Midwest

Soybean Opportunities: My ViewsExpect the Unexpected

Huge competition for land Weather

Diversify Carpenters: soybeans, corn, cattle, hay

Manage Debt If not, it could will bring you down

Soybean Opportunities: My ViewsUtilize multiple sources of info.

Print, radio, TV, Internet

Get Involved!

Qualified State Soybean Boards

United Soybean Board

Soybean checkoff: www.UnitedSoybean.org

Soybean OpportunitiesUnited Soybean Board (USB)Long-Range Strategic Plan

Strategic ObjectivesU.S. Soybean Meal

increase value

U.S. Soybean Oilincrease value

Freedom to Operatefreedom and infrastructure for us to operate

Customer Focusquality U.S. soy products and services

Current USB Priority Issues

Short-term opportunities, challenges in need of immediate attention by checkoff

1. Protect & Support U.S. Animal Ag2. Transportation Infrastructure

Soybean OpportunitiesUSB Impact Projects

1. Identify Genes Affecting Yield

2. Export Market Diversification

Soybean Opportunities

Profit opportunities for all U.S. soybean farmers!