From staff reports Despite operating in a challenging economic environment marked by low commodity prices, the United Soybean Board continues to provide critical economic returns for U.S.
soybean farmers.
An August 2024 study by Cornell University economist Dr. Harry Kaiser illustrates that through efforts in export market development, domestic demand enhancing research, and soybean promotion, the soy checkoff delivers at least a 4.5-to-1 return on investment.
USB’s investments expand markets for food, feed and industrial uses, while also spurring job growth, higher
ultimately contributed $9.8 billion to the U.S. gross domestic product.
“We focus on maximizing every dollar invested to create new revenue streams for farmers,” said Philip helps protect our markets and provides long-term sustainability.”
Kaiser’s study highlights USB’s substantial impact: supporting nearly 31,000 jobs, generating $2.6 billion in labor income and contributing $5.9 billion in total value. USB’s research and promotional efforts continue to open new markets, including markets in industrial uses and animal agriculture.
USB CEO Lucas Lentsch highlighted the soy checkoff’s investment in high-impact opportunities for supporting soy.
“We’re funding research to fight pests and increase yields, improving waterways, rails and ports, supporting cost share for cover crop adoption, growing demand in emerging, expanding and mature markets abroad, identifying soy uses in petroleum replacement and furthering high oleic utilization across the country,” he said.
To learn more about the economic impact of U.S. soybeans, visit nopa.org.