The average economic cost of producing soybeans was $4.53 per bushel in 1986, while individual farm costs ranged from $1.93 to more than $15.00 per bushel. Acreage, yields, and regional differences among farms appear to be the principal factors influencing soybean production costs. Producers with the lowest costs of production planted more acreage to soybeans and obtained higher yields than producers with higher costs. Much of the cost differences were associated with region. This report compares selected characteristics and costs of production among soybean producers. Producers are grouped on the basis of economic costs, enterprise sizes, and production regions. Characteristics of producers in each group are examined for sources of cost differences among groups.