Soybeans bulk load for covered hopper. The soybean is a species of legume native to East Asia, widely grown for its edible bean, which has numerous uses. Soy beans contain significant amounts of phytic acid, dietary minerals and B vitamins. Soy vegetable oil, used in food and industrial applications, is another product of processing the soybean crop. Soybean is the most important protein source for feed farm animals that in turn yields animal protein for human consumption.