News: Soybean Price Loss Economic Impact County and Congressional District Analysis
Following last month’s announcement of the economic impact of the drop in soybean prices, the Missouri Soybean Association requested additional analysis into impacts at the local level.
The resulting reports from the University of Missouri’s Commercial Agriculture Program detail losses at the county level and across Missouri’s eight congressional districts, showing significant hits to Missourians as a result of a $2 price drop for soybean. Among those costs are losses equivalent to 70 full-time jobs in Nodaway County and 60 full-time jobs in Stoddard County. Missouri’s 6th Congressional District stands to lose more than 1,000 jobs. The drop in economic activity tops $23 million for New Madrid County alone.
The reports itemize the impact for every 10-cent drop in soybean prices, and were developed using the IMPLAN software. Copies of the reports are available by clicking the links below.
The economic impact information includes direct, indirect and induced economic effects, as described in each report. In addition to the economic impact information, the reports include average soybean production for each county based upon the past three years’ harvests.
The Missouri Soybean Association is the statewide membership organization for soybean farmers, focused on legislative advocacy, communication and outreach.