Soybean checkoff vs. Corn checkoff

Eric in IL · Feb 28, 2012

If my thinking is correct the checkoff rate for a bushel of soybeans is 0.5% of the price you receive for that bushel.

For corn it is three eights of a cent per bushel you sell. Corn is not dependant on the price you sell at.

So if you sold a bushel of beans for $10.00 the checkoff board gets a nickel. That amount is 13.3 times higher than what is expacted for a bushel of corn. I realize we don't grow as many bushels of beans as we do of corn and a 3 to 4 times higher rate for beans seems fair. But 13.3 seems a bit extreme to me.

Do you all think the people on the soybean board are still spending our money wisely now that they are really raking it in with the higher market prices the last couple years?

LonM · Feb 28, 2012

I think a lot of the trade figures for beans, corn, etc. are a result of simple supply and demand; i.e. whatever country can sell the cheapest commodity will get the export business of other nations. Our grain is no better than most of the other leading nations (due in large part to the F.M. allowed at our ports), so to answer your question, I really don't believe that we are getting our moneys worth in paying the big shots to travel around the world, dress up in suits, and eat steak. I welcome other opinions, but that is my two cents.
LonM

IaGary · Feb 28, 2012

I agree the soybean checkoff is to high.

But they do more than promote to other countries.

They supposedly do research to find new uses for soybeans.

Gary

Eric in IL · Feb 28, 2012

I have never "opted out" of any grain checkoff request. I think this year I might draw in the reins and only support the checkoff with half of my bean bushels. I'll still pay the full ante on corn though.

Soybean checkoff vs. Corn checkoff

Eric in IL

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LonM

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IaGary

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Eric in IL

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