The Economics of Soybeans for Processing in New York 1972
Yields are too low and costs are too high in New York State for there to be more than a miniscule quantity of soybeans produced. In 1972 the State had 8,000 acres of soybeans out of 46, 000, 000 acres for the nation. The State produced 168,000 bushels of beans out of 1, 276,290,000 bushels which were produced that year in the United States. However, a few farmers may be able to keep their costs low enough or obtain high enough yields to make a profit. Even these probably could put their resources to better use in competing enterprises if they were so inclined.
Charles H. Dyson School of Applied Economics and Management, Cornell University