Tuesday, September 8, 2009
You know, I have been thinking if there is a corn palace, why isn't there a soybean palace?
"Over 70 million acres of soybeans are planted in the United States each year, having a value of close to $20 billion. Ninety percent of U.S. oilseed production comes from soybeans, and the production value of soybeans is second only to corn.
The impact of this growth on the economy is substantial. Nearly all of the soybeans produced in the United States are crushed within the country or sold through export. Exports generate revenue and lead to economic growth within the country, while domestic crush creates jobs throughout the economy, starting with the crushing plants and moving through the production of the meal and oil into consumer products like cooking oil and margarine.
The future for increased economic growth from soybean production looks bright as well. Increased use of soybeans for biodiesel and for new plastic compounds has increased the uses for beans. The bulk of soybean production occurs in the Midwest and corn belt states, so the impact is even greater in those areas of the country.
Because of the size of soybean production and the array of uses for the derivative products, the positive economic impact is great. This also means that in years of drought or flooding that lead to crop failure, the negative economic impact can be devastating. Farms can foreclose, production plants face layoffs, and overall economic wealth decreases. Like with all other major farm production, the economic impacts can be a seesaw effect because the success of the crop depends on factors that no one can control, like weather and natural disaster."
So why not a palace for the queen of the crops?
It should be centrally located, somewhere in the midwest I think.
I can't think of a better thing for soybean producers to invest in, so the American Soybean Association and Soybean Board should consider this endeavor when they are though fighting. Their disagreement did nothing but hurt us producers this year.
The Martinsville School sits empty but is still in good shape.
If I won the lottery, I would sure consider making it the first soybean palace.
It is an idea long passed over since China started raising them thousands of years ago and baby America introduced them to this country in the last century.
It is an idea worth considering.