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Who Dominates The U.S. Soybean Industry: Producers, Consumers, Or Agribusineses?

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  • Song, Baohui
  • Marchant, Mary A.
  • Xu, Shuang

Abstract

Globally the U.S. is the number one producer, consumer and exporter of soybeans. Nationally, U.S. soybean production value ranks second among all agricultural bulk commodities, having a significant impact on U.S. farm incomes. U.S. soybeans have been a subsidized commodity since 1941 and the 2002 Farm Bill provides soybeans for the first time direct government and counter-cyclical payments. Using welfare economics, this research explores the political economy of U.S. soybean subsidy policies. Results indicate that in aggregate terms consumer interests dominate and in per capita terms producer interests dominate in the U.S. soybean industry. 4

Suggested Citation

  • Song, Baohui & Marchant, Mary A. & Xu, Shuang, 2004. "Who Dominates The U.S. Soybean Industry: Producers, Consumers, Or Agribusineses?," 2004 Annual meeting, August 1-4, Denver, CO 20117, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea04:20117
    DOI: 10.22004/ag.econ.20117
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    File URL: https://ageconsearch.umn.edu/record/20117/files/sp04so02.pdf
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    References listed on IDEAS

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    1. Reed, Albert J. & Elitzak, Howard & Wohlgenant, Michael K., 2002. "Retail-Farm Price Margins And Consumer Product Diversity," Technical Bulletins 33573, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Nagurney, Anna & Besik, Deniz & Li, Dong, 2019. "Strict quotas or tariffs? Implications for product quality and consumer welfare in differentiated product supply chains," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 129(C), pages 136-161.

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    Keywords

    Crop Production/Industries;

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