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UNITED SOYBEAN BOARD ACTIVITIES & ACCOMPLISHMENTS REPORT
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USB FEBRUARY MEETING STRATEGY Action Team/Target Area planning meetings BUDGET Adjusted 2013 Approved 2014 and Action Team allocations Reserve for high oleic market expansion AUDIT RESULTS Audit results announced
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USB BUDGET Price: $12/bushel Usage: 3.28 billion bu. Collections: $93,480,000 FY13 BUDGET CHANGES Price: $14.25/bushel Usage: 3.06 billion bu. Collections: $103,561,875 Customer Focus: 24.40% Freedom to Operate: 19.40% Meal: 33% Oil: 23.20% ACTION TEAM ALLOCATIONS FY14 BUDGET
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USB BUDGET Price: $12/bushel Usage: 3.28 billion bu. Collections: $93,480,000 FY13 BUDGET CHANGES Price: $14.25/bushel Usage: 3.06 billion bu. Collections: $103,561,875 Customer Focus: 24.40% Freedom to Operate: 19.40% Meal: 33% Oil: 23.20% ACTION TEAM ALLOCATIONS FY14 BUDGET
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HIGH OLEIC SOY LETTERS OF INTENT DuPont Pioneer Monsanto RESERVE FUND To continue market expansion PROJECTIONS 30% acreage goal “very reachable” $4 billion added value for industry every year
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MEAL STRATEGY IMPROVE PROTEIN Research Variety selection COMPETITION DDGS South American soy U.S. ADVANTAGES Amino acids Digestibility Reliable transportation International offices
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OIL STRATEGY PUSH AND PULL Customer demand Farmer acceptance BALANCE Food industry Industrial users
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FREEDOM TO OPERATE STRATEGY PROACTIVE Regulations Transportation system Trade barriers Sustainability Water GMO labeling COLLABORATE Partner and leverage Other organizations facing same issues
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CUSTOMER FOCUS STRATEGY LOTS OF CUSTOMERS Diverse needs Quality products, services FARMERS Increase yields Get tools, info into farmers’ hands
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FINANCIAL ANNOUNCEMENTS Total USB Program Funding= $82,727,021 Total Leverage =$58,501,759 Five Year Average =$51,759,773 LEVERAGING Funding: $83 million Leveraged: $96 million First time leverage total exceeded funding 115% ratio REVIEWS USDA: No findings Financial audit: “Clean opinion”; no changes
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UPCOMING USB MEETINGS WICHITA, KAN. July 8-9 ST. LOUIS December 5-6 LITTLE ROCK, ARK. February 3-7, 2014 YOU’RE INVITED!
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STAY UP TO DATE ON USB ON THE WEB www.UnitedSoybean.org ON FACEBOOK www.facebook.com/ UnitedSoybeanBoard ON TWITTER @UnitedSoy
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