Opportunity for soybean producers - Request referendum

By Farms.com

Soybean producers in the United States have a chance to voice their opinions on the Soybean Promotion and Research Order. The USDA Agricultural Marketing Service (AMS) has announced that producers can request a referendum to determine whether they want the U.S. Secretary of Agriculture to conduct a referendum on the order.

Participation in this request for a referendum is voluntary. Soybean producers should participate if they wish to have a say in the future of the Soybean Promotion and Research program. The program, operated as the United Soybean Board, aims to maintain and expand both domestic and foreign markets for soybeans and soybean products.

Funding for the program comes from a mandatory assessment of 0.5 of 1 percent of the net market price of soybeans, with all producers marketing soybeans, except organic producers, required to pay the assessment.

To trigger a referendum, at least 10 percent of eligible producers must participate in the request. If successful, a referendum will be held within one year from the determination. However, if the request for a referendum does not garner enough support, no referendum will be conducted.

Soybean producers have until May 31 to request a referendum. To be eligible, producers must certify that they or the producer entity they represent paid an assessment between Jan. 1, 2022, and Dec. 31, 2023.