At the annual Audrain County Farm Bureau Annual meeting, guest speaker, Dan Engemann with the Missouri Soybean Association, gave an update on this year's crops as well as an update from the Missouri Soybean Merchandising Council. MSMC was established in 1980 to allocate funds for projects that aid and enhance Missouri's soybean industry. MSMC receives its funds from the soybean checkoff collected when soybeans are sold. The checkoff rate is ½ of 1 percent or 50 cents on every $100. MSMC is governed by a 13-member volunteer farmer board, which manages one half of the checkoff collected.