Soybean farmers and their checkoff, working through the North Carolina Soybean Producers Association and the United Soybean Board, are building innovative programs to increase the value of the soybean and its products. Every dollar invested in the checkoff returns $12.30 (2024) in net revenue to the soybean industry.
The Soybean Promotion and Research Order is authorized by the Soybean Promotion, Research, and Consumer Information Act [7 U.S.C. 6301-6311], passed in the 1990 Farm Bill. It authorized the establishment of a national soybean promotion, research, and consumer information program. Soy growers can request a referendum on the future of their checkoff every 5 years.
A mandatory assessment of one-half of one percent of the net market price of soybeans is collected at the first point of sale. Half of the amount collected remains within the state and the other half is forwarded to the United Soybean Board which makes project investments nationwide.
Soybean farmers can be proud of their checkoff, which has supported the industry through customer outreach, research to increase soybean yield and quality, and global marketing to expand export efforts.
