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The soybean checkoff is a congressionally-mandated assessment on soybeans, whose proceeds are used to fund soybean research and promotion efforts. The checkoff is managed by the United Soybean Board under the supervision of the United States Department of Agriculture Agricultural Marketing Service. In 2014, the checkoff was $109.1 million. [1]
This is a list of countries by soybean production from 2016 to 2022, based on data from the Food and Agriculture Organization Corporate Statistical Database. [1] The total world production for soybeans in 2022 was 348,856,427 metric tonnes , down 6.4% from 372,853,699 tonnes in 2021. [ 1 ]
The American Soybean Association (ASA) is an association of 21,000 American soybean producers. John Heisdorffer is the 2018 President of the Association. [ 1 ] Stephen Censky worked for ASA for 23 years, 21 of those as CEO, and then left to become United States Deputy Secretary of Agriculture in 2017.
In 2020, Paraguay exported $2.15B in Soybeans, making it the fourth largest exporter of soybeans in the world. Soybeans were the most exported product in Paraguay. In 2019, Paraguay's main exporting competitors in soybeans were: Brazil ($28.6B), United States ($25.6B), and Argentina ($2.31B). [6]
During the 2000s, the price of Brent Crude rose above $30 a barrel in 2003 before peaking at $147.30 in July 2008. With the onset of the Great Recession, reduced demand for oil caused the price to fall to $39 per barrel in December 2008. [4]
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Soybeans are the most valuable agricultural export of the United States. [128] Approximately 85% of the world's soybean crop is processed into soybean meal and soybean oil, the remainder processed in other ways or eaten whole. [129] Soybeans can be broadly classified as "vegetable" (garden) or field (oil) types.
The Minneapolis Grain Exchange (MGEX) is a commodities and futures exchange of grain products. It was formed in 1881 in Minneapolis , Minnesota , United States as a regional cash marketplace to promote fair trade and to prevent trade abuses in wheat , oats and corn .