By Andi Anderson
Iowa State University's agribusiness students have delved into the intricacies of soybean supply chains, experiencing the evolving landscape firsthand. Led by Bobby Martens, associate professor of economics, the students embarked on a weeklong trip, exploring processing plants in Iowa and Minnesota, as well as ports in the Pacific Northwest.
The timing of the course is particularly relevant as soybean supply chains undergo significant changes, driven by increased demand for renewable diesel. Soybean oil, a crucial component for renewable diesel production, has spurred a surge in domestic processing. This shift impacts not only the marketing of soybeans but also influences livestock production by increasing the supply of soy meal for animal feed.
Martens highlights the transformation occurring in the soybean sector, with more soybean harvests expected to be crushed in the United States, leading to substantial supply chain changes. The students had the opportunity to witness this transformation and gain insights into the cooperative role in reshaping the soybean market.
Cooperatives, particularly member-owned ones, play a pivotal role in this transformation. The study trip included visits to AGP's soybean crush facility and biodiesel plant, as well as CHS processing plants and export terminals. The cooperatives generously provided students with in-depth tours and discussions with executives, offering a unique perspective on the industry.
The 11 students participating in the course found the hands-on experience invaluable, reinforcing their understanding of soybean supply chains beyond the classroom. The course is expected to set a precedent for similar study trips in the future, providing students with valuable insights into various agricultural supply chains.
Photo Credit: istock-oticki
Categories: Iowa, Crops, Soybeans