MANKATO –Minnesota supports more than 25,000 soybean farmers. Every time a soybean farmer sells soybeans, one half of one percent of the market price is “checked off.” But where do those checkoff funds go from there?
Minnesota Soybean Research & Promotion Council (MSR&PC) is dissecting the true value of checkoff investments with the launch of its multi-pronged Behind the Dollar campaign, which will shed light on the myriad positive impacts of checkoff dollars across more than 50 years.
“I think a lot of farmers don’t really know where the checkoff goes and I believe transparency is important, so farmers know exactly where their hard-earned dollars are being spent,” said Dumont farmer Tom Frisch, chair of MSR&PC. “If we can do the research, product development and promotion to highlight all the great things farmers are doing, we’re truly helping to increase their bottom line.”
This campaign seeks to provide a detailed road map to the destination of checkoff investments, increasing overall transparency for the agriculture community. From building Minnesota’s biodiesel market to developing new varieties to creating value-added uses, the soy checkoff continues improving farmer profitability. According to the latest data from the United Soybean Board, which directs the national checkoff program, for each dollar Minnesota farmers pay into the checkoff, growers earn $12.34 in return value.
“As farmer leaders ourselves, we understand the importance of being wise with our investments,” said MSR&PC Director Glen Groth, who farms in Winona County. “In this day and age, farmers need to scrutinize every dollar to ensure maximum profitability. That’s why we are proud to showcase the checkoff investments and highlight how they are being utilized, including finding new uses for soy, both locally and worldwide.”
With a deep dive of the checkoff’s numerous investments, including expanding export markets, biodiesel, agronomic research, educational events and local partnerships, this campaign will utilize various marketing channels to engage with farmers and consumers, fostering a deeper understanding of the bigger value behind the checkoff dollar.
