American Soybean Association

The First Corn Belt Soybean Field Day was held on September 3, 1920 in Camden, Indiana. It was hosted at Soyland Farms, owned by brothers and pioneer soybean growers Taylor, Finis, and Noah Fouts, and organized with the backing of the Indiana Agricultural Experiment Station and the Extension Service at Purdue University in West Lafayette, Indiana.... In addition to field tours, there was a program of soybean production and marketing talks by staff from several extension services and universities, the U.S. Department of Agriculture, and prominent soybean farmers. Following the program, the growers in attendance determined that a specific organization was needed to help promote and develop soybean production and utilization in America. That day, growers founded the National Soybean Growers Association (later to be renamed American Soybean Association) and Taylor Fouts was elected its first president. At the December 1925 annual meeting of the National Soybean Growers Association, attendees voted to change the name of the organization to American Soybean Association. A constitution and bylaws for the organization were presented and adopted by a unanimous vote. 1931 First major export of U.S. soybeans In 1931, the first major export of U.S. soybeans took place. Approximately 2 million bushels were exported to Europe, mainly to Scandinavian countries, Belgium and the Netherlands. By the fall of 1936, the supply of soybeans available in commercial markets justified a move by the Chicago Board of Trade (CBOT) to launch a soybean futures contract. In October 1936, the first transaction was for 5,000 bushels of soybeans sold at $1.20 per bushel. By 1940, leaders of the American Soybean Association believed it was strategically important to create a paid executive position. At ASAs 1940 annual convention and meeting, the decision was made to hire George Strayer, a 29-year-old soybean farmer, seedsman and ASA director from Hudson, Iowa, as executive secretary. He was the first paid employee of ASA. The American Soybean ...Read More