Improving the profitability of Iowa soybean farmers will be the focus of two summits both to be held Thursday, Nov. 15 -- one in Cedar Falls and the other in Ames. "Soybean Profitability in a Global Marketplace," sponsored by Iowa Soybean Association and Rabo AgriFinance, will feature expert analysis of international soybean demand and supply trends and their impact on domestic prices and soybean grower profitability.
"Nearly 60% of U.S. soybean production is exported to China, South America, Mexico and a host of other countries and markets," points out ISA president Mark Jackson, who farms near Rose Hill in southeast Iowa. "Obtaining a greater understanding of what's taking place in these key markets is critical to the current and future success of Iowa's soybean farmers."
The Cedar Falls summit will be held 10 a.m. to 1:30 p.m. at the Hilton Garden Inn, 7212 Nordic Drive. The Ames session will be at the Holiday Inn, 2609 University Blvd., from 4 p.m. to 7:30 p.m. There is no cost to attend and a meal will be provided.
Speakers will explain what's happening in China and in world soybean market
Keynote speakers include Sterling Liddell, vice president for Rabo AgriFinance and Rabobank International and Renault Quach, director and assistant general manager of Dongling Grain and Oil Co., Ltd. of China.
Liddell analyzes the grain and oilseed sectors for the Rabobank Food & Agribusiness Research and Advisory (FAR) group and coordinates the research efforts for Rabo AgriFinance in the North Americas. Quach has more than 20 years of experience with commodity trading in China including importing and exporting ag commodities and distributing ingredients used for livestock feed. Currently, he oversees the business operations of Dongling Grain, a company founded in 2003 and headquartered in Guangzhou, China that crushes and processes soybeans primarily for domestic consumption. ~~~PAGE_BREAK_HERE~~~
"Soybean growers will find the expertise of both speakers to be extremely helpful in understanding what's really taking place in China and around the world as it relates to grain supplies and demand," says Jackson. "They offer the kind of real-time and unfiltered analysis that can help farmers improve their profitability."
Reservations are encouraged by Friday, Nov. 9 and can be made by contacting Wanda Lester, Rabo AgriFinance, 319-575-5468 or [email protected]. The summits are funded in part by the soybean checkoff. To learn more about ISA, visit its website at www.iasoybeans.com.
Financial management insight available to Iowa Soybean Association members
Also last week, ISA announced that Iowa soybean growers will receive a helping hand with financial, estate and farm succession planning courtesy of a new service provided by the Iowa Soybean Association in partnership with Pivot Wealth Strategies of West Des Moines, Iowa. Beginning in November, the nearly 11,000 members of ISA can subscribe at no cost to a bi-monthly "Farm Wealth Update" e-newsletter. The resource will provide timely expertise from a variety of financial experts on issues directly impacting farm profitability.
"As tax and regulatory schemes become more complex, it's increasingly important that farmers have access to the latest information and a variety of opinions," says ISA president Mark Jackson of Rose Hill. "Pivot Wealth Strategies serves many agricultural clients and its perspective will assist members in determining what options are best for their farms and families."
Chris Uglum, president of Pivot Wealth Strategies, says his team is privileged to provide financial guidance to farmers during a time of tremendous uncertainty and market volatility. As asset values continue to appreciate, he says, looming changes in tax policy require special attention. Estate planning also takes on added importance given that the average age of the Iowa farmer is nearing 60.
"We admire what farmers do and are dedicated to helping them manage their farms with savvy, thoughtfulness and perseverance," says Uglum. "We look forward to providing members of the Iowa Soybean Association unique perspectives that can help them maximize their assets while identifying the potential risks that could be catastrophic to the future of their farm and livelihood." Iowa Soybean Association members can receive "Farm Wealth Update" at no charge by emailing Nancy Cunningham at [email protected].