September 16, 2014
World soy importers in US for four-day meet
More than 270 representatives of major international companies interested in importing US soygather together for the four-day second annual US Soy Global Trade Exchange in Milwaukee, Wisconsin, USA, which opened yesterday.
Areas represented included China, the Middle East, Vietnam and many others.
"Every other row of US soybeans is exported, so it is imperative to build and retain strong relationships with our international customers," says Jim Call, soybean farmer from Minnesota and United Soybean Board (USB) chairman.
"The Global Trade Exchange gives US soybean farmers a great opportunity to meet face to face with these valuable customers and prospective buyers as they commit to buying millions of bushels of our soybeans."
International representatives committed to buy $2.8 billion worth of US soy during last year''s US Soy Global Trade Exchange in Davenport, Iowa.
In the most recent marketing year, USsoybean farmers exported more than 1.7 billion bushels of US soy to customer beyond our borders. The value of these exports set a record of more than US$28 billion.
The event, which is co-sponsored by USB, the American Soybean Association (ASA), the checkoff-funded US Soybean Export Council (USSEC) and the Midwest Shippers Association, continues through Thursday, Sept. 18.
Besides meeting with US soy farmer-leaders, attendees will also attend a variety of presentations to learn about the sustainability and quality of US soybeans.
"This event offers a taste of American ag that they don''t get every day," Call says. "This experience should give them a better understanding of the pride we take in our farms and product and how US soybeans will benefit them for the long haul. Choosing US soy is a win-win situation for all of us."
The 70 farmer-directors of USB oversee the investments of the soy checkoff to maximize profit opportunities for all US soybean farmers.
These volunteers invest and leverage checkoff funds to increase the value of USsoy meal and oil, to ensure USsoybean farmers and their customers have the freedom and infrastructure to operate, and to meet the needs of US soy''s customers.
As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.