USDA Will Not Initiate Soy Checkoff Referendum

USDA Will Not Initiate Soy Checkoff Referendum

Request for referendum results show continued strong support from U.S. soybean farmers for their checkoff, United Soybean Board says

USDA has announced the results of the request for referendum on the Soybean Research and Promotion Program.

USDA received 355 request-for-referendum forms, of which only 324 were valid, from Farm Service Agency offices. The 355 forms represent 0.06% of all eligible U.S. soybean farmers. That result falls short of the 10% needed to prompt a referendum.

"These results show that U.S. soybean farmers overwhelmingly see the value in our soy checkoff," says Jim Call, United Soybean Board chairman. "It's more important than ever that the volunteer farmer-leaders of USB continue to invest soy checkoff funds to maximize the profit potential for all U.S. soybean farmers."

Request for referendum results show continued strong support from U.S. soybean farmers for their checkoff, United Soybean Board says

If 10% of the 569,998 U.S. soybean farmers had requested a referendum, with no more than one-fifth of the 10% coming from one state, USDA would have conducted the referendum on the soy checkoff within 12 months.

USDA conducts the request-for-referendum vote every five years, as required by the Soybean Promotion, Research and Consumer Information Act. The most recent period took place from May 5 through May 30.

Farmers certifying that they or the entity they represent paid into the checkoff at any time between Jan. 1, 2012, and Dec. 31, 2013, were eligible to participate in the petition for referendum. Eligible farmers who did not want a referendum did not need to take any action.

USDA requested and approved a notification by USB to inform U.S. soybean farmers about the request-for-referendum period. USB placed paid notifications on the request for referendum in national, regional and state agricultural publications and also distributed the notification to all Qualified State Soybean Boards and the news media. In addition, USDA's Agricultural Marketing Service and Farm Service Agency distributed the information about the request-for-referendum period.

"As industry leaders, USB will keep moving U.S. soybeans forward to be the top global oilseed," adds Call. "It's a great vote of confidence knowing U.S. soybean farmers support this work as well."

Source: USB

TAGS: Soybean
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