The U.S. soybean industry has new opportunities in 2021

The world has just ushered in the 2021 New Year, China's Lunar New Year is also coming.
the new year, Jim Sutter, chief executive of the USSEC, reviewed the challenging year 2020 and looked ahead to the opportunities it will bring to the US soybean industry in 2021.
U.S. soybean industry is seeing new opportunities in 2021 2021 Brings Opportunities for U.S. Soy 2020 is an unusual year, and many see it as one of the toughest periods in human history.
this, the U.S. soybean industry has shown resilience and resilience, actually witnessing and experiencing the current 100-year-old change.
this time last year, China and the United States had just signed the first phase of the economic and trade agreement;
U.S. soybean stocks at the end of August were expected to be 475 million bushels, and the price for the 2019-2020 sales year was expected to be $9 a bushel.
, the new crown outbreak quickly transcended trade differences and profoundly affected our lives, with many lives lost.
, the global spread of the new crown outbreak poses challenges to supply chains and cross-border travel has stalled completely.
The U.S. soybean industry seized on the opportunities inherent in the crisis, not only by maintaining business with customers and existing buyers of U.S. soybeans, but also by expanding its connections with the market and establishing communications with potential customers who had previously been unable to meet face-to-face.
since March last year, the USSEC has hosted more than 308 events worldwide, attracting 39,896 participants from 78 countries, so we are familiar with how to host and organize virtual conferences.
will enable us to communicate more efficiently and effectively when we meet our customers online again.
by deepening our mutual understanding with business organizations, we are able to better understand their needs and challenges.
, I am very much looking forward to holding offline activities as soon as possible, face-to-face exchanges with customers.
, we will be hosting more online and offline joint events.
supply and demand changes In 2020, the global and U.S. supply and demand landscape will change dramatically.
a major shift in soybean products around the world.
the World Agricultural Supply and Demand Forecast (WASDE), released in January, the USDA notes that U.S. soybean stocks are only 140 million bushels.
few months, the market mentality has shifted from "rush to sell" to supply-side management.
prices hit their highest level since 2014 in January 2021, leaving soybean growers optimistic about the outlook.
, on the other hand, high prices are bothering buyers of U.S. soybeans.
, we've launched the Dare to Compare series to show you the true value of U.S. soybeans and encourage buyers to gain insight into objective data and informative research.
factors affecting the change of supply and demand, China plays an important role in the middle.
China's unexpectedly rapid solution to Africa's swine fever problem has led to strong demand growth.
China has always been a major buyer of U.S. soybeans, and we will continue to work to promote trade relations between the U.S. and China, and we recognize the importance of market diversification and will continue to invest in emerging market development."
September 2019, the first Soy Excellence Center of Excellence was established in Egypt as a one-stop service platform for the industry, providing training, resources and education to all members of the soybean value chain.
also plans to establish more soybean centres of excellence in Africa (Nigeria), Southeast Asia and Latin America.
the USSEC organized the Right to Protein series in India to come up with a new dietary concept.
india has been lacking dietary guidelines, and now Indians are beginning to realize the importance of protein.
series of events has now affected more than 5 million Indians, demonstrating that we also play a role in transmitting knowledge and providing education in promoting market demand.
Looking ahead to What's on Horizon?2021, we will redefine the evaluation criteria for the nutritional value of soybean meal in aquatic and livestock farming;
sustainable development is at the heart of American soybeans, and our work is closely related to it.
it involves cross-domain collaboration and is becoming increasingly effective.
from the end of February to the beginning of March, a new database of the U.S. soybean food value chain will be available.
provides information on specific varieties of soybeans, including data on quality, variety attributes, and origin diversity.
database will provide strong support for the promotion of soybeans in the United States.
In addition, we've just launched the Soybean Big Curry Topics series, which brings together soybean practitioners, policy makers, industry leaders, and people who want to learn more about the soybean value chain and agriculture as a whole to discuss important issues, events, and cutting-edge developments with global leaders.
many of this year's events are worth looking forward to.
following our successful ag Supply Chain Asia conference on January 26-28, we plan to host other similar large-scale regional events this year.
we will organize a study at the Commodity Classic on "Calling for a new understanding of soybean protein in the global livestock and poultry feed industry."
addition, our team is actively preparing for the 2021 Global Soybean Trade Exchange and Special Grains Conference (U.S. Soy Global Trade Exchange & Specialty Grains Conference）。
, 2020 has certainly proved the importance of good teams.
we are fortunate to have the support of all segments of the soybean value chain, from growers and association members to industry partners, and I would like to thank you for your active involvement in the U.S. soybean industry.
in the second month of 2021, I wish you all happiness and well-being! Jim Sutter joined the USSEC as chief executive in 2010 after more than 30 years at Cargies.
joining the USSEC, Su Jian led the strategy development effort, making it clear that the association's focus was on differentiation and building buying preferences for U.S. soybeans, while ensuring market access.
key initiatives include creating a competitive advantage for U.S. soybean sustainability, improving customer partnerships in the area of sustainable food safety, and demonstrating the inherent and external benefits of U.S. soybeans to customers around the world.
also stressed the need to ensure that the USSEC's project management and administrative processes meet or meet the requirements of investors.
grew up in a farming and cattle farm family in northeastern Colorado and earned a degree in agricultural enterprise/economics from Colorado State University.