Iowa farmers will have an additional profit opportunity in 2016 when high oleic soybeans become available for planting in the state for the first time.
“This is different for Iowans, since we’re usually first to get a new soybean trait,” says Delbert Christensen, a soybean farmer from Audubon, Iowa and farmer-leader with the United Soybean Board. “These varieties have been proven in other markets for years; now it’s time for farmers in our state to step up and spread the success.”
High oleic soybeans are bred with the same agronomic trait and disease packages that farmers expect in their other soybean varieties. Because these varieties have been grown in other areas of the U.S. for five years, Iowa farmers can be confident that they offer competitive yields. With seed industry commitment to breeding strong varieties, farmers don’t have to choose between performance in the field and providing a product that processors and end users demand.
In addition, processors offer farmers a premium to grow high oleic soybeans, which represents an even higher profit opportunity during times of lower commodity prices.
Christensen says high oleic soybeans will benefit Iowa farmers and the state’s rural economy. “Any time we have another market for our oil, that will bring value to our communities,” he says. “Since these varieties yield the same, farmers will see high oleic as a profitable opportunity.”
The soy checkoff, along with the rest of the soybean industry, is committed to the expansion of high oleic soybeans and their ability to raise demand for all soybeans. The oil produced from high oleic soybeans is stable and provides a solution to expand existing markets and provide new customers to U.S. soybean farmers.
In Iowa, high oleic soybeans will be accepted by AGP in Manning. Contracts will be available for the 2016 growing season. For more information about high oleic soybeans and to find specific delivery locations, visit here or talk to your seed representative.
The 70 farmer-directors of USB oversee the investments of the soy checkoff to maximize profit opportunities for all U.S. soybean farmers. These volunteers invest and leverage checkoff funds to increase the value of U.S. soy meal and oil, to ensure U.S. soybean farmers and their customers have the freedom and infrastructure to operate, and to meet the needs of U.S. soy’s customers. As stipulated in the federal Soybean Promotion, Research and Consumer Information Act, the USDA Agricultural Marketing Service has oversight responsibilities for USB and the soy checkoff.