With more than half of all soybeans grown in the U.S. reaching a final destination outside the country, it's no surprise that trade is a significant area of focus for the South Dakota Soybean Research and Promotion Council. Even as we look toward ways to keep value in-state through increased processing capacity, livestock development, and growth in the biofuels category, securing demand abroad will continue to help support value for soybeans grown in South Dakota.
Soybean transport infrastructure
Transport infrastructure is critical to soybean trade, and South Dakota farmers have funded several key projects through their checkoff in recent years to support greater overall efficiency when delivering their soybeans to markets around the world. Notable investments of soybean checkoff dollars include a dredging project to boost barge capacity on the Mississippi River as well as research, analysis and design at Port of Grays Harbor to improve logistics in the Pacific Northwest (PNW).
These sorts of infrastructure improvements don't go unnoticed by buyers in foreign markets. "When we go overseas to our customers, they talk about infrastructure as a prime factor in purchasing U.S. soy," said South Dakota Soybean Research and Promotion Council District 6 Director Todd Hanten, who farms in the Goodwin area.
Hanten reiterated the prioritization the South Dakota Soybean Research and Promotion Council continues to place on transport logistics concerns in order to remain competitive on the global market. "Getting our products there when they need them is something that is important to all of agriculture — not just soybeans," he said.
The importance of relationships and product quality
While it may seem like most purchasing decisions are made solely based on price and availability, the importance of relationships and product quality cannot be understated. That's why soybean farmers in South Dakota are focused on fostering connections with international buyers through their checkoff.
South Dakota Soybean Research and Promotion Council has sponsored trade tours to several emerging markets as well as hosted buyers on reverse trade tours to the U.S. in recent years, providing farmers and other industry leaders with opportunities to forge relationships and showcase the premier product they grow here in South Dakota.
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