Record soybean prices paid to U.S. farmers are the result of market conditions unlike any seen before. Part of the credit for $14.00 soybeans rightly goes to the farmer-leaders who have guided the U.S. soybean industry on a path that has built demand and new uses for soy. USDA projects that net U.S. farm income will reach an all-time high of $87.5 billion in 2007, up 48 percent in one year. Soybean exports are expected to reach $10.4 billion in Fiscal 2008. At the same time, we recognize that farmers’ production costs have leaped as well. Additionally, high prices have created challenges for domestic and international soy customers, and for our domestic biodiesel industry. ASA’s work in Washington and around the world will continue to address the need for farm profitability and the availability of high quality U.S. soy. Below are a few of the most significant developments since ASA’s December Board of Directors meeting –Stephen Censky, March 2008

ASA Continues Work On Farm Bill As Congress works to complete the 2008 Farm Bill, ASA continues to be extremely active in pushing ASA’s policy and budget priorities. Last week ASA leaders were again in Washington to meet with key House and Senate conferees. ASA continues to push its priorities for soybean farmers including increasing the soybean target price to a minimum of $6.10, adequately funding a CCC Bioenergy program that pays on all gallons of biodiesel produced by a domestic producer, and authorization and funding of a Commodity Quality Incentive Program to help in the commercialization of oilseeds with enhanced food uses. As of this writing Congress still has not officially settled on the amount of spending "above baseline" for the bill. Although not yet official, it appears that $10 billion in above baseline spending has been agreed upon by Senate and House conferees, although the Administration is still insisting that any above baseline spending be tied to specific policy "reforms."

ASA Soybean Biotechnology Working Group Plans For Upcoming Biotech Events The ASA Biotech Working Group met in January to review the upcoming plans of major ag biotech companies for commercialization and stewardship programs for new biotech soybean varieties. The purpose of the group is to have regular and in-depth consultations, and to coordinate efforts for timely U.S. and foreign regulatory approvals and market acceptance. The Working Group is comprised of farmer-leaders from ASA, USB, and USSEC, and ASA and USSEC staff. Representatives from Bayer CropScience, Monsanto, Dow Agro Sciences, and DuPont/Pioneer participated with the Working Group to review their specific commercialization plans for 2009 and beyond. Targeted for commercialization in 2009 are Bayer’s LibertyLink® soybean (LLS), Monsanto’s Roundup Ready 2 Yield™ soybean, and Pioneer's Optimum® GAT® soybean.

ASA Supports USG on WTO Ruling against the EU on Biotechnology ASA has worked closely with the U.S. Trade Representative and supports the decision by the U.S. government to give the EU more time to implement a science-based approval system for biotech-derived agricultural products. However, ASA has warned EU policy makers of dire consequences for European livestock industries if the EU doesn’t speed up its approval process given the new soybean events scheduled to be commercialized in the 2009 growing season. U.S. soybean producers currently export $1.5 billion in soybeans and products to the EU each year, and do not want that market compromised.

ASA’s Second Annual AgriBusiness Council Tackles Emerging Issues At this year’s ASA AgriBusiness Council meeting two important issues were reviewed and discussed; sustainability and climate change. On sustainability, viewpoints were presented from ASA, The Keystone Center, Scientific Certification Systems for ANSI Standards Development, and the World Wildlife Fund. On climate change, the focus was on its affect on agriculture and congressional action pending on climate change. The purpose of the Council is to assist in the development of an industry-wide policy agenda that ASA and the soybean industry will work to pursue in Washington. As a result, it has been established that a major policy priority for 2008 will be to advance a sensible sustainability initiative that will positively impact the environment, maintain economic viability for the producer, and maintain the production of ample supplies of safe and affordable food and grains.

USDA Revises WIC Program, Adds Soybeans, Tofu and Soymilk ASA applauded revisions announced by USDA to the Women, Infants and Children (WIC) program that will increase the availability of soy products to program recipients. ASA provided comments on the proposed regulations in November of 2006. Dried and canned whole soybeans will now be included as a meat alternative in the WIC food package. Fortified soymilk and tofu will be available to pregnant and lactating women, though children in the WIC program will need medical documentation to receive fortified soymilk and tofu. The addition of tofu and soymilk recognize the demands of ethnically and culturally diverse populations.

President Bush Signs Peru Trade Bill In a crowd consisting of the President of Peru, representatives from the U.S. cabinet, foreign embassies and industry leaders, and a representative of the ASA, President Bush signed the Peru Trade Promotion Agreement into law on Dec. 14, 2007. ASA has lobbied for passage of this and other trade agreements that provide increased market access for U.S. soybeans, soy products, and U.S. meat and poultry products. According to an American Farm Bureau Federation analysis, by the year 2025 U.S. soybean farmers will benefit from the trade agreement by increasing U.S. soybean imports to Peru by $1.37 million; soybean meal by $67.03 million and soybean oil by $70.16 million.

ASA Launches Education, Membership Campaign To educate growers about the roles of the ASA and the soybean checkoff, ASA launched a campaign that explains the difference and encourages soybean farmers to join their state soybean association. While the law prevents soybean checkoff dollars from being used to fund policy work and lobbying, ASA, as a voluntary dues-paying membership organization can, and does, do those things on behalf of soybean farmers. The campaign theme "If You Believe, Belong." emphasizes that soybean growers believe the work ASA does is important, and, therefore, they should become a member if they are not already. ASA’s education and membership campaign, which continues through this year, was made possible by a grant from Monsanto.