Soybean quality is important in determining the value of processed soybeans. This dissertation, written in the form of three papers, developed the concept and methodology for calculating Estimated Processed Value (EPV), and examined the effect of two quality conditions on EPV--soybean composition, and shriveled and wrinkled seed coats;Interest in marketing soybeans on the basis of protein and oil content (composition) is increasing. A model is presented that predicts the yields of crude soybean oil and soybean meal from solvent-extraction processing based on composition and processing conditions. EPV is calculated from product yields. For one set of price conditions, the EPV of typical soybeans had a range of 0.93 per bushel if premiums were paid for meal protein in excess of specifications and a range of \0.53 per bushel without meal protein premiums. Trading rules established by the National Soybean Processors Association for domestic meal markets have a significant effect on the value of whole soybeans and the composition of soybean meal;Drought stress in the Midwest in 1988 resulted in shriveled and wrinkled (S/W) soybeans. The Federal Grain Inspection Service (FGIS) emergency definition of S/W soybeans was examined. Seven S/W lots were subdivided into sized fractions by using slotted and round-hole screens. Shriveled and wrinkled soybeans were found in all size fractions. The FGIS definition of shriveled and wrinkled includes only S/W soybeans passing through a 10/64[superscript]'' by 3/4[superscript]'' slotted screen. For accurate S/W measurement, the entire soybean sample must be examined, not a sized fraction;Soybean processors expressed concerns about cracking and dehulling properties of S/W soybeans in the Fall of 1988. Five lots of soybeans, two sound lots and three containing S/W seeds, were cracked and dehulled, along with sized and sorted fractions of these lots. Processing variables (% aspiration liftings, fiber removal in the liftings, % fines in the liftings, protein recovery, oil recovery, meats size distribution and oil-free meats fiber content) indicated significant differences between lots of sound beans and lots containing S/W beans. There were differences in processing characteristics among these three types of soybeans (from best to worst): sound soybeans from sound lots, sound soybeans from lots containing S/W beans, and S/W soybeans. Smaller soybeans did not process as well. The presence of S/W soybeans had a negligible effect on EPV. Calculated blends of sound and S/W lots containing 20% S/W seeds had a EPV decrease of less than 0.2%.