united soybean board activities & accomplishments report
DESCRIPTION
United Soybean Board Activities & Accomplishments Report. USB February Meeting . STRATEGY Action Team/Target A rea planning meetings BUDGET Adjusted 2013 Approved 2014 and Action T eam allocations Reserve for high oleic market expansion AUDIT RESULTS Audit results announced. - PowerPoint PPT PresentationTRANSCRIPT
UNITED SOYBEAN BOARD ACTIVITIES & ACCOMPLISHMENTS REPORT
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
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
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
HIGH OLEIC SOYLETTERS OF INTENT• DuPont Pioneer• MonsantoRESERVE FUND• To continue
market expansionPROJECTIONS• 30% acreage goal
“very reachable”• $4 billion added value
for industry every year
MEAL STRATEGYIMPROVE PROTEIN• Research• Variety selectionCOMPETITION• DDGS• South American soyU.S. ADVANTAGES• Amino acids• Digestibility• Reliable transportation• International offices
OIL STRATEGY
PUSH AND PULL• Customer demand• Farmer acceptance
BALANCE• Food industry• Industrial users
FREEDOM TO OPERATE STRATEGY
PROACTIVE• Regulations• Transportation system• Trade barriers• Sustainability• Water• GMO labelingCOLLABORATE• Partner and leverage• Other organizations
facing same issues
CUSTOMER FOCUS STRATEGY
LOTS OF CUSTOMERS• Diverse needs• Quality products,
services
FARMERS• Increase yields• Get tools, info into
farmers’ hands
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
UPCOMING USB MEETINGS
WICHITA, KAN.• July 8-9
ST. LOUIS• December 5-6
LITTLE ROCK, ARK.• February 3-7, 2014
YOU’RE INVITED!
STAY UP TO DATE ON USBON THE WEB www.UnitedSoybean.org
ON FACEBOOKwww.facebook.com/
UnitedSoybeanBoard
ON TWITTER @UnitedSoy