Soybean Leader Says New Markets Offer Hope in Tight Farm Economy

Why It Matters

Diversifying export destinations and premium soybean products offers growers a tangible path to offset shrinking margins, strengthening the overall resilience of the U.S. soybean sector.

Summary

The podcast features Indiana farmer Don Whis, a United Soybean Board executive, discussing how new markets and premium soybean products can offset tight farm margins. Whis highlights the board’s recent outreach to Egypt—now a top‑five U.S. soybean destination—illustrating the shift toward broader export diversification after years of China‑centric sales. He also explains the role of the soybean check‑off program in funding research, promotion, and innovative product development.

Key data points include the United Soybean Board’s presence in over 90 countries, the emergence of high‑oleic (hyleic) soybeans that command price premiums, and the launch of soy‑based foam for fire‑fighter gear as an example of industrial diversification. Whis stresses that even a 1% increase in soybean inclusion rates in animal feed can translate into substantial demand growth, while university‑partnered student projects are generating novel bio‑based applications such as concrete sealers and asphalt additives.

Notable quotes underscore the urgency: “Now’s not the time to take your foot off the gas pedal,” and “Every 1% gain in feed rations makes a huge difference.” Whis also shares a personal safety anecdote about a near‑miss in a grain bin, reinforcing the need for caution during the busy spring season.

The implications are clear: farmers can improve profitability by adopting premium high‑oleic varieties, pursuing export markets like Egypt, and supporting check‑off‑funded research that expands soybean uses. Collectively, these strategies aim to stabilize income, reduce margin pressure, and position U.S. soybeans as a versatile, globally demanded commodity.

Original Description

Indiana farmer and member of the United Soybean Board Executive Committee Don Wyss explains how export diversification, premium markets, and new uses can build demand and help farmers survive tight margins.

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