NEW YORK CITY, NEW YORK, US — The global economic impact of soy production and its uses for human and animal nutrition drew more than 700 participants from 58 countries to the second Soy Connext, a global US soy summit hosted by the US Soybean Export Council (USSEC).

US soybean farmers, related food and agriculture industry professionals, commodity exporters and others gathered Aug. 21-23 in New York City to discuss the current macroeconomy and the need for collaborative efforts among those who grow, sell and purchase US soybeans and soy products. 

Factors having an impact on the global economy such as international trade, supply chain challenges and innovations, and the need for global cooperation for mitigating climate change through sustainable practices also were examined during conference presentations.

“If this year’s Soy Connext event has underscored anything, it’s that US soy is truly woven into the fabric of the global economy,” said Jim Sutter, chief executive officer of the USSEC. “US soybean meal and oil exported to over 80 countries worldwide help provide nutrition security for a global population and demonstrate the tremendous impact of US soy farmers’ conservation practices and US soy’s lowest carbon footprint around the world. With over half of the world’s food and beverage companies publicly committed to sustainable agriculture, the demand for US soy is poised for growth.”

In the US Department of Agriculture’s latest Soybeans: World Supply and Distribution report, the United States is forecast to produce 114.45 million tonnes of soybeans and export 49.67 million tonnes in marketing year 2023-24. Both numbers are second globally only to Brazil. The United States is also the second-largest producer of soybean meal (49.15 million tonnes) and oil (12.26 million tonnes) behind China.

At this year’s Soy Connext, participants heard from a variety of speakers about macroeconomics, the geopolitical climate, sustainability and supply chain innovations. Sessions also delved into more sector-specific information, including soybean oil, soybean meal for livestock and poultry feed, soybean meal for aquaculture feed, and soy food and beverage production. The final day of Soy Connext featured sessions focused on issues impacting the future success of the US soy export pipeline.

“At USSEC, we are dedicated to serving as a global connector,” said Stan Born, board chair of USSEC and a soybean farmer from the state of Illinois. “This year’s Soy Connext was a celebration of the vibrant history of global agriculture, and a look at the technological innovations of today and the future. This annual event is another way USSEC brings together important participants in the global soybean industry to maintain and grow global collaboration.”

The Chesterfield, Missouri, US-based USSEC is funded by the US soybean checkoff, USDA Foreign Agricultural Service (FAS) matching funds, and industry. The Council focuses on market access for US soy in more than 80 countries, representing US soy farmers, processors, commodity shippers, merchandisers, allied agribusinesses and agricultural organizations.