For three decades, soybean checkoff resources have improved the bottom lines of the half-million soybean farmers in America and, closer to home, Minnesota’s nearly 28,000 soybean producers.
The Minnesota Soybean Research & Promotion Council is debuting a new blog series, “Checkoff Chatter,” that will highlight, showcase and preview past, present and future checkoff projects. The series will feature staff directors who help oversee checkoff investments, farmer-leaders and researchers via written and video entries. MSR&PC Director of Research David Kee will begin the series by introducing the 16 research projects the Council has approved for 2021.
“There are so many exciting things that we’re working on and so much momentum behind this organization,” Council CEO Tom Slunecka said. “We’re looking forward to continuing to show soybean farmers – who all pay into the checkoff – the value of the program, and how it continues to help improve the farm economy and farmer profitability.”
Year after year, the soybean checkoff goes to work for Minnesota farmers. Soybean producers generate more than $9.5 billion in revenue, adding nearly 25,000 jobs toward the state’s economy. According to a 2020 checkoff study, the soybean industry’s total economic impact on the U.S. economy averaged $115.8 billion.
Established in 1991, the soybean checkoff is federally mandated by the Soybean Promotion, Research, and Consumer Information Act. Every time a Minnesota soybean farmer sells soybeans, one half of 1% of the market price is deducted. Half of the checkoff is utilized by Minnesota, while the other half is overseen by the United Soybean Board.
Each year, the Minnesota Soybean Research & Promotion Council directs checkoff resources into research, promotion and market access. As part of “Checkoff Chatter,” Council leaders will deliver the latest news on the Ag Innovation Campus, Plasma Blue, TruSoya, investments in value-added products, biodiesel and more.
“It’s a great privilege to direct checkoff funds, and it’s a responsibility (we) don’t take lightly,” said MSR&PC Chair Cole Trebesch, who helps directs checkoff funds alongside 14 other farmers across Minnesota. “It’s important that farmers know where their checkoff dollars are invested, and how they can use the programs to help their business.”