Economic Impact of U.S. Soybeans & End Products on the U.S. Economy

By the National Oilseed Processors Association

The National Oilseed Processors Association (NOPA) and the United Soybean Board (USB) are pleased to announce the results of a new study, The Economic Impact of the U.S. Soybeans & End Products on the U.S. Economy, that examines the value of the American soybean industry.

NOPA’s President Thomas Hammer observes, “As indicated by this study’s findings, the economic contributions of the soybean processing and refining sectors to the U.S. economy are substantial, connecting soybean farmers with end users. Soybean processors convert soybeans into meal and oil. These value-added products are used in food, feed, industrial products and biofuels, supporting billions of dollars in domestic wages and tens of thousands of good paying jobs in the United States.”

This 33-page study analyzes the soybean value chain’s impact on the U.S. economy based on data from crop years 2019/20 to 2021/22. As highlighted in the report summary, during this period:

The total economic impact on the U.S.… Continue reading