Weekly Update

Soybean Weekly Update - April 6, 2018

April 06, 2018

ISA Responds to China Tariff Announcement

lSA leaders and staff this week are sharing the Illinois perspective on the 25 percent soybean tariff announced by the Chinese Commerce Department. An estimated 60 percent of Illinois soybeans are exported, and about half of those go to China, representing roughly $1.75 billion in soybean export value. Although a timeline for implementing the tariff has not been defined, ISA will continue to monitor the issue and work with the American Soybean Association (ASA) to share the soybean farmer’s perspective in ongoing trade and tariff negotiations with China.

 

Act Now! Tell White House and Congress to Take Trade Target off Soybeans

In retaliation to U.S. tariff announcements, the Chinese Commerce Department has threatened to impose a 25 percent tariff on U.S. soybeans. Such action could significantly impact Illinois farmers. Illinois Soybean Growers urges farmers to submit letters to the White House and Congress, asking them to focus on reducing the trade deficit without imposing barriers to key trade markets like China.

 

China’s Pork Tariff Also Affects Soybean Farmers

China announced plans to impose a 25 percent tariff on U.S. pork, if an agreement cannot be reached between the U.S. and China. This potential tariff also impacts soybean farmers, since pigs eat 74 percent of the soybean meal fed in Illinois and about 20 percent of the soybean meal fed in the U.S. In 2017, the U.S. exported nearly 500,000 metric tons of pork to China, making China a key market for top local customers. For more, see the pork industry statement.

 

It’s #NationalSoyFoodsMonth

April is dedicated to highlighting soy-based foods and ingredients. Follow along on Instagram through #SoyintheCity as foods that benefit from protein-packed, nutritious soy are highlighted.

 

Anti-Dumping Trade Action is Good News for U.S. Biodiesel

A new biodiesel market analysis by Scott Irwin, University of Illinois ag economist, shows an uptick in domestic biodiesel production. Irwin credits anti-dumping action taken against Argentina and Indonesia last year. The U.S. Commerce Department and International Trade Commission imposed tariffs after determining both countries were selling biodiesel into the U.S. at prices under cost of production. From January 2016 through August 2017, the United States imported more than one billion gallons of biodiesel and renewable diesel—81 percent of it from Argentina and Indonesia. Since import duties went into effect in August, there have been no imports of biodiesel from the two countries. Read the full report here.

 

Distant Soybean Relative Delivers Unexpected Yield Boost

A study done by Randall Nelson, University of Illinois crop scientist, finds crossing soybeans with the Australian vine Glycine tomentella not only delivers disease-resistant genes, but also helps boost soybean yields. The accidental discovery included a highly complex process to make the Australian vine viable for seed production via a growth hormone solution and repeated back-crossing. Though the reason for the high yield boost is still unknown, researchers will map the genome of the soybean cross to determine what makes this such a viable pair. Read more here.

 

Incorporate Aerial Imagery in Your Management Decisions

In a free webinar, April 11 from 10 to 11 a.m., Greg Rose, co-founder and vice president of product at ItelinAir, and Senior Agronomist Ivan Dozier, will present aerial imagery for farms. They will share case studies about how Illinois farmers can use aerial analytics to make strategic management decisions. Reserve your spot here.

 

CSP Contract Renewal Deadline is Next Friday

Farmers wanting to enhance conservation efforts are encouraged to renew their Conservation Stewardship Program (CSP) contracts. CSP contracts allow private landowners to earn payments for actively managing, maintaining and expanding conservation activities like cover crops, nutrient management, buffer strips and pollinator and beneficial insect habitat, while maintaining active production. Learn more from the Natural Resources Conservation Service here.

 

Tune into Monthly Transportation Podcast April 20

The ISA checkoff program is hosting a monthly transportation podcast where listeners can hear from Don Wenneker. With more than 50 years of experience serving the agriculture industry, including having retired from Tate & Lyle, Wenneker shares his expertise within grain merchandising and transportation on both domestic and international platforms. Tune in here every month, and listen on the following dates: April 20, May 28, June 15, July 20 and August 24. Geo Grain provides the basis maps Wenneker uses for his evaluation.

 

Petitions Available for ISB District Director Elections

Petitions are available for growers interested in running for open director positions with the Illinois Soybean Board (ISB). Petitions can be obtained from the Illinois Department of Agriculture, local University of Illinois Extension offices and the Illinois Soybean Association (ISA). Petitions must be filed by May 15, 2018. Six Illinois districts will hold director elections this year:
 
  • District 2:   Cook, DuPage, Kane, Kankakee, Lake McHenry, Will
  • District 10: Christian, Dewitt, Macon, Moultrie, Shelby
  • District 11: Champaign, Coles, Douglas, Edgar, Piatt
  • District 14: Clark, Crawford, Cumberland, Effingham, Jasper
  • District 16: Clay, Edwards, Lawrence, Richland, Wabash, Wayne, White
  • District 17: Jackson, Jefferson, Perry, Randolph, Washington

           

Due to the tenure provision specified in the soybean checkoff, directors in District 10 (Jered Hooker),District 16 (Tim Scates), and District 17 (David Droste) are not eligible for re-election. Directors serving in District 2 (William Awe), District 11 (Doug Schroeder) and District 14 (Sherri Kannmacher) are eligible for another three-year term. A candidate must be an Illinois resident and resident grower of the district he or she seeks to represent, of legal voting age and a contributor to the soybean checkoff. For more information, contact Angel Terrell.

 

Illinois Soybean Growers Offers Two Membership Options    

To bring farmers the most value possible, Illinois Soybean Growers has two membership options: policy membership and informational membership.  Membership in ASA is included with both options.  Contact the ISG office at 888-826-4011 for more details and to join or renew. 

 

Join ISG’s Political Action Committee Today

Illinois soybean farmers are invited to join the Illinois Soybean Growers Political Action Committee (ISGPAC).  ISGPAC provides farmers with strong involvement in political races and a direct pipeline to tell legislators about issues that matter most to them. ISGPAC helps nurture those relationships and keeps key contacts in office where they work for the industry's best interests.  Visit ISGPAC.

 

ILSoyAdvisor Tweet of the Week

How do growers make double-cropping a profitable venture? These #DoubleCrop experts offer advice for any grower interested in maximizing their ground's full potential: http://bit.ly/2EgpFfW. Check out the tweet here. Follow @ILSoyAdvisor on Twitter for daily soybean updates.