Last week, the farmer board of directors with the United Soybean Board approved a budget for fiscal year 2023 of $123 million dollars for programs that will begin on October 1st.  Jason Frerichs of Wilmont, South Dakota serves as a representative from South Dakota on the United Soybean Board.  Frerichs serves on the Infrastructure and Connectivity Subcommittee.  He says soybean checkoff funds help secure the transportation of soybeans and soy products.  Frerichs says the United Soybean Board is focused on the expansion use of soybean oil for various fuel purposes.  The soybean checkoff collects one-half of one percent of the market value of soybeans at the time of sale.  The South Dakota USB director says since both yields and the price paid for soybeans have been higher, the United Soybean Board was able to broaden its budget, and fund additional research, promotional, education, and market development programs.

The Wilmont, South Dakota soybean farmer reminds growers the USB is judicious in the allocation of checkoff generated funds, with the goal to have a return on their investment.