New Study Finds U.S. Soybean Industry Has $115 Billion Impact on the American Economy

Mar 25, 2020

The National Oilseed Processors Association (NOPA), a trade association representing owners/operators of oilseed crush facilities, is pleased to announce the availability 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 partnered with the United Soybean Board (USB) in commissioning LMC International Ltd, an independent economic consulting firm that specializes in global agricultural commodity and agribusiness sectors, to develop the study.

This 31-page study analyzes the soybean value chain’s impact to the U.S. economy, based on data from crop years 2014/15 to 2016/17. As highlighted in the report summary, during this period:

The total economic impact on the U.S. economy from the soybean sector averaged $115.8 billion.
The soybean sector supported an average of 357,000 people, comprising 280,000 paid, full-time equivalent jobs as well as an additional 78,000 family members, beyond growers themselves, who support and are supported by soybean farming operations.
The total wage impact of the sector averaged $11.6 billion.

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Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.