By Blake Jackson
Matt Amick, the Director of Market Development for the Missouri Soybean Merchandising Council (MSMC), shared significant updates on market development strategies that are boosting demand for Missouri-grown soybeans.
Amick is dedicated to advancing new market opportunities, particularly in domestic soybean crushing, livestock feed, biofuels, international exports, and various industrial applications.
"Domestic crush, domestic livestock, and biofuels are three really key areas right now when we are talking about building demand for Missouri soybeans," Amick stated.
Missouri ranks second in biodiesel production across the U.S., presenting significant potential for local usage. Amick emphasized that the surge in demand for soybean oil in biofuel production has spurred investment in soybean crushing capacity nationwide, and Missouri is keenly observing these developments to identify opportunities for expansion within the state.
Although current market conditions are challenging, Amick remains optimistic about future growth. One promising initiative Missouri Soybeans is exploring is a grant program aimed at enhancing biodiesel storage and distribution.
“The Missouri Biofuels Infrastructure Incentive Program (BIIP) grants are available through the Missouri Agricultural and Small Business Development Authority,” Amick said. These grants are designed for fuel retailers, terminals, suppliers, and fleets to encourage greater biodiesel use.
He also emphasized the long-term role of biofuels: “We know the move to decarbonize the transportation sector is not going to go away and is going to continue to grow.”
Livestock farming continues to be a critical sector for soybean consumption in Missouri, making it another key focus for MSMC. “We partner with our livestock sector often,” Amick noted, highlighting a collaboration between Missouri Soybeans, Missouri Farmers Care, and Missouri Partnership. Their joint efforts aim to expand livestock processing in the state and, in turn, increase soybean demand.
“Missouri Partnership is focused on ways businesses will use more commodities like soybeans in their operations,” Amick explained. As more agribusinesses come to Missouri, the demand for soybeans and soybean meal for livestock feed is expected to rise.
Recent changes in the soybean crush economics are notable. Amick pointed out that while soybean oil once reduced prices due to its smaller share of the crush margin, the growth of biofuels has elevated its value, now accounting for a larger part of the margin.
Internationally, MSMC collaborates with organizations like the United States Soybean Export Council (USSEC) and the World Initiative for Soy in Human Health (WISHH) to promote Missouri soybeans.
USSEC focuses on expanding soybean meal and products in mature and growing markets, addressing issues like market access and regulatory hurdles. WISHH, on the other hand, targets emerging markets, such as sub-Saharan Africa, to improve access to soybeans for food and feed, as soy offers a lower-cost protein solution.
Ultimately, the success of these initiatives translates to success for Missouri soybean growers.
Photo Credit: missouri-soybeans
Categories: Missouri, Business, Crops, Soybeans, Energy