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Mid-Atlantic High-oleic Soybean Contracts To More Than Double

Mid-Atlantic High-oleic Soybean Contracts To More Than Double
Pioneer and Perdue expand high-oleic soybean grower contracts to 60,000 acres in the Mid-Atlantic for 2015 delivery and a higher premium.

Early this year, American Agriculturist reported that the United Soybean Board expected 170,000 acres of high-oleic soybeans to be planted in the U.S. during 2014. Some 20,000 acres of them were contracted by Perdue Agribusiness in the Mid-Atlantic – Delaware, Maryland, Pennsylvania and Virginia.

PREMIUM-VALUED: Demand for Plenish high-oleic soybean oil has boosted 2015 contract premium and acreage for Mid-Atlantic growers. Photo courtesy of DuPont Pioneer

Perdue and DuPont Pioneer recently announced plans to more than double the acreage contracted for DuPont Pioneer's Plenish high-oleic soybeans in 2015. For the 2015 growing season, Perdue Agribusiness will contract with soybean producers in Maryland, Delaware, Pennsylvania and New Jersey to grow 60,000 acres of the identity-preserved crop. Select varieties can be grown as conventional and double-crops.

2015 contracts more lucrative

In 2014, interest in contracting identity-preserved soybeans was slow to grow due to historically high prices for conventional soybeans and corn. But 2015 futures contract prices for the commodity crops are substantially lower.

"Soybean farmers have a keen interest in finding new ways to add value to their production, notes Randy Minton, DuPont Pioneer's Eastern region business director. "Solid yield performance of Plenish varieties, combined with the added profit opportunity with grain premiums, makes participation in the Perdue program an attractive decision."

Perdue will offer a $0.50 per bushel premium over posted elevator delivery price for harvest delivery to designated elevators or $0.60 per bushel for on-farm storage, according to Perdue Spokesperson Julie DeYoung. The fall delivery premium is substantially higher than that of this fall.

At this point, there'll be 10 delivery locations:
•Perdue Agribusiness sites at Salisbury, Md.; Berlin, Md.; Bridgeville/Seaford, Del.; Marietta, Pa.; Red •Bird/Bridgeton, N.J.; Shiloh, Md.; and Sudlersville, Md.
•Boyle Brothers, Queen Anne, Md.
•Cartanza Grain Elevator, Dover, Del.
•Schiff Farms, Harrington, Del.

For contract and variety details, contact your Pioneer seed representative or April Chessman, Perdue Agribusiness at 866-816-7946, or email her at april.chessman@perdue.com.

The high-oleic soybean oil will target food service and food manufacturers seeking healthier oil alternatives with good performance. Plenish oil has 0 grams trans fat per serving and 20% less saturated fat than conventional soybean oil.

Plenish soybeans are approaching completion of global deregulation with more than 90% of U.S. soybean export markets now approved. For more on Plenish high-oleic soybeans, visit www.plenish.com .
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