SOYBEANS 



Soybeans were the major cash farm product in 1978. Production was 108.9 

 million lb, 251% greater than in 1961. This increase came about primarily 

 because of increased acreage rather than increased productivity. The soybean 

 acreage increased 225% (33,200 acres to 1.1 million acres) from 1961 to 1978. 

 Production per acre in 1961-78 ranged from a high of 28 bu in 1967 to a low of 

 21 bu in 1972. Major increases in productivity are likely only if strains of 

 disease resistant soybeans are developed and more productive varieties are 

 used. The major soybean producing counties are Santa Rosa, Escambia, and Oka- 

 loosa. The soybean crop is used primarily for animal feed and soybean oil and 

 is marketed locally and throughout the State. 



The current dollar income rose from $2.63 a bushel in 1954 to $6.80 a 

 bushel in 1978, an increased of 158%. The real price was relatively constant 

 in 1954-78. Farmers could keep up with inflation only by selling more pro- 

 ducts as the real price of their crop was falling. Changes in consumer income 

 only indirectly affect the demand for soybeans. For the farmer, elastic 

 demands for soybeans increase total revenue as the real price falls. If the 

 percentage change in the quantity demanded is greater than the percentage 

 change in price, total revenue will increase. Most farm commodities face an 

 inelastic demand, but the versatility of soybeans (i.e., the numerous food and 

 non-food uses) creates an eleastic demand. 



The demand for soybeans has increased sharply as evidence by a sharp in- 

 crease in the number of acres planted. A major reason for this demand has 

 been the development of a wide variety of new uses for soybeans. Soybeans are 

 made into synthetic meats, cheese, vegetable oils, and commercial animal food. 

 The use of soybeans also has expanded because the real price of soybeans has 

 remained constant whereas the real price of competitive products has in- 

 creased. 



Timber 



Northwest Florida accounted for 14.6% of the State timber harvested in 

 1979 and 9.7% of its value. In 1969-79, the total volume of forest saw timber 

 for Northwest Florida increased 85.9% (4.5 billion to 6.3 billion board ft). 

 During this period, total commercial forest land (2.9 million acres) in the 

 region decreased about 3%. The real cash value of the timber harvest in 1978 

 was $4.6 million. The largest producer was Bay County, which contributed 

 23.6% of the production. 



Northwest Florida supports a multitude of forest product and marine 

 industries such as the large pulp and paper industries (St. Joe Paper Co. in 

 Gulf County and Southwest Forest Industries in Bay County) and numerous log- 

 gers, cabinet makers, lumber stores, and saw mills. In 1978, the real income 

 of forest products was $206 million, about 18.5% of the State's forest pro- 

 ducts income. These industries use timber for paper, pulp, lumber, chemicals, 

 and a host of other wood products. Increased income has come about by using 

 bark and wood shavings as a fuel. 



Competition for other land uses has led to a reduction in commercial 

 forest land. In 1969-79, the area of commercial forests in Northwest Florida 



119 



