Commodity prices may have dipped, but that shouldn't stop Indiana farmers from finding profit opportunities in soybeans. Farmers looking to add a little more to their 2015 bottom line can choose to plant high oleic soybeans for a premium.
The development and commercialization of Plenish high oleic soybean oil is a significant milestone for DuPont Pioneer efforts to bring product innovation to the soybean value chain. It's an important example of how biotechnology is being used to develop products with direct food industry and consumer benefits.
Kevin Wilson, Walton, Ind., farmer, will be planting his third crop of high oleic soybeans this year and says they've lived up to his expectations.
"I plant high oleic for several reasons," says Wilson, who also serves as a United Soybean Board and Indiana Soybean Alliance farmer-leader. "When it comes to performance, they are every bit as good, or even better, than my conventional soybeans. They pack the same disease tolerance and the quality looks good."
Indiana food companies have expressed interest in high oleic soybean oil, but they need farmers to grow it. If farmer can prove they can provide a consistent, abundant supply of these beans, then additional food companies will commit to using them.
"A lot of the same delivery locations that farmers use now are accepting high oleic soybeans," Wilson adds. "And there's not really anything special about handling." Wilson said. "We haul them to the same location as our other soybeans, it's a no brainer when they add in another 50 cents."
Wilson adds that they are sure that they do their best we cleaning out bins and to not cross over with their commodity beans. But, he says it's pretty simple, just something they have to pay attention to.
Farmers are encouraged to seek out these opportunities that offer competitive premiums. Both ADM-Frankfort and Bunge-Decatur still have contracts for 2015 available.