New soy-based products literally driving domestic demand
US consumers are literally driving demand for soybean meal and oil as new ways are discovered to use those products for vehicles, roadways, and bridges.
United Soybean Board Chairman and Illinois farmer Dan Farney says not only are soybeans used in biodiesel and tires, but Iowa State University is using high oleic soybean oil to create a polymer used to help mine asphalt.
“This product isn’t released commercially yet, but it is a big opportunity for soybean farmers. More than 300 million tons of asphalt pavement were put down last year and that would mean a lot of beans being used here at home. The potential for use of high oleic soybean oil in asphalt is more than 1 billion pounds each year.”
He says the Indiana Soybean Alliance has also patented a soy-based concrete durability enhancer called Poreshield.
“Poreshield is ideal for sates throughout the Midwest on roads and bridges that freeze and thaw and require deicing. On average, 200 bushels of soybeans are used for every two-lane mile of concreate highway joint treated with Poreshield.”
He says these soy -based industrial products are also recognized as more environmentally friendly than petroleum products, meeting customer demand for climate friendly solutions.
Farney spoke during the 2021 Commodity Classic.