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United Soybean Board Activities & Accomplishments Report
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Transcript of United Soybean Board Activities & Accomplishments Report
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UNITED SOYBEAN BOARD ACTIVITIES & ACCOMPLISHMENTS REPORT
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USB FEBRUARY MEETING
STRATEGY• Action Team/Target
Area planning meetingsBUDGET• Adjusted 2013• Approved 2014 and
Action Team allocations• Reserve for high oleic
market expansionAUDIT RESULTS• Audit results announced
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USB BUDGET
Price: $12/bushel
Usage:3.28 billion bu.
Collections: $93,480,000
FY13 BUDGET CHANGES
Price:$14.25/bushel
Usage:3.06 billion bu.
Collections: $103,561,875
Customer Focus: 24.40%
Freedom to Operate: 19.40%
Meal: 33%
Oil: 23.20%
ACTION TEAM ALLOCATIONS
FY14 BUDGET
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HIGH OLEIC SOY
LETTERS OF INTENT• DuPont Pioneer• MonsantoRESERVE FUND• To continue
market expansionPROJECTIONS• 30% acreage goal
“very reachable”• $4 billion added value
for industry every year
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MEAL STRATEGY
IMPROVE PROTEIN• Research• Variety selectionCOMPETITION• DDGS• South American soyU.S. ADVANTAGES• Amino acids• Digestibility• Reliable transportation• International offices
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OIL STRATEGY
PUSH AND PULL• Customer demand• Farmer acceptance
BALANCE• Food industry• Industrial users
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FREEDOM TO OPERATE STRATEGY
PROACTIVE• Regulations• Transportation system• Trade barriers• Sustainability• Water• GMO labelingCOLLABORATE• Partner and leverage• Other organizations
facing same issues
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CUSTOMER FOCUS STRATEGY
LOTS OF CUSTOMERS• Diverse needs• Quality products,
services
FARMERS• Increase yields• Get tools, info into
farmers’ hands
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FINANCIAL ANNOUNCEMENTS
Total USB Program Funding= $82,727,021
Total Leverage = $58,501,759
Five Year Average = $51,759,773
LEVERAGING• Funding: $83 million• Leveraged: $96 million • First time leverage total
exceeded funding• 115% ratio
REVIEWS• USDA: No findings• Financial audit: “Clean
opinion”; no changes
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UPCOMING USB MEETINGS
WICHITA, KAN.• July 8-9
ST. LOUIS• December 5-6
LITTLE ROCK, ARK.• February 3-7, 2014
YOU’RE INVITED!
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STAY UP TO DATE ON USB
ON THE WEB www.UnitedSoybean.org
ON FACEBOOKwww.facebook.com/
UnitedSoybeanBoard
ON TWITTER @UnitedSoy