The United Soybean Board (USB), is the governing body that instantiates the U.S. commodity checkoff program for
soybeans. It is made up of 73 volunteer farmer-directors who oversee the investments of the soybean checkoff on behalf of all U.S. soybean farmers. The soybean checkoff is a congressionally-mandated
assessment on soybeans, whose proceeds are used to fund soybean research and promotion efforts. The checkoff is managed by the United Soybean Board under the supervision of the
United States Department of Agriculture
The United States Department of Agriculture (USDA) is the federal executive department responsible for developing and executing federal laws related to farming, forestry, rural economic development, and food. It aims to meet the needs of com ...
Agricultural Marketing Service
The Agricultural Marketing Service (AMS) is an agency of the United States Department of Agriculture; it maintains programs in five commodity areas: cotton and tobacco; dairy; fruit and vegetable; livestock and seed; and poultry. These program ...
. In 2014, the checkoff was $109.1 million.
funds are invested in the areas of animal utilization, human utilization, industrial utilization, industry relations, market access, and supply. As stipulated in the Soybean Promotion, Research, and Consumer Information Act, USDA’s Agricultural Marketing Service has oversight responsibilities for USB and the soybean checkoff.
The checkoff rate is 0.5% of the market price of soybeans sold each season. The volunteer farmer-directors are nominated by their state-level checkoff organizations, called Qualified State Soybean Boards (QSSBs). The nominees are appointed by the
U.S. Secretary of Agriculture to the Board.
History
Congress authorized the soybean checkoff in the Soybean Promotion, Research, and Consumer Information Act of 1991. The USDA instantiated the soybean checkoff September 1, 1991.
References
Reading list
About the United Soybean Board
External links
United Soybean Board*
{{Authority control
Agricultural organizations based in the United States
Commodity checkoff programs