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ASA president says push for new markets, new uses continues

The president of the American Soybean Association says work continues to expand domestic and foreign markets for soybeans.

Ohio farmer Scott Metzger says the twelve million tons China committed to buying is about half of what they used to buy. “That’s why we’re trying to do a big push on RVOs (renewable volume obligations), getting those RVOs finalized, and as well as 45Z to help compensate for some of those losses.”

Metzger says the 45Z final tax rule and setting renewable volume obligations for biodiesel won’t make up for China’s lost demand. “It’s just a small fraction of the deficit so, you know, obviously we’re still going to need China and we’re also still going to need the other markets as well with it, but any little help we can have is going to be positive in the right direction with that.”

Metzger is also encouraged by the number of planned soybean crush plants, which he says would not only improve domestic demand but would lower the basis cost and put more money in farmer’s pockets.

Metzger spoke to Brownfield during the recent Wisconsin Corn-Soy Expo.

AUDIO: Scott Metzger with the American Soybean Association discusses soybean marketing and creating new demand with Brownfield’s Larry Lee during the Wisconsin Corn-Soy Expo.