Posted 28 December 2015. PMN Crop News.
High Oleic Soybeans Introduced for 2016 Planting in Nebraska
Premium soybeans offer strong performance, higher profit potential
Source: United Soybean Board Press Release. www.unitedsoybean.org
St. Louis, Missouri (December 15, 2015)--Nebraska farmers will have an additional profit opportunity in 2016 when high oleic soybeans become available for planting in the state for the first time.
High oleic soybeans will be accepted by AGP in Hastings next fall, and contracts will be available soon. The processor will offer farmers a premium to grow high oleic soybeans.
Soy checkoff farmer-leader Gregg Fujan says he’s excited about how these soybeans can benefit Nebraska farmers’ bottom lines during a time of lower commodity prices.
“Throughout history, we’ve seen specialty crops gain momentum during times of lower profit, and I think right now, farmers will be looking to capture that premium as another profit opportunity,” says Fujan, a farmer from Weston.
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 provides a solution to expand existing markets and even open new ones to U.S. soybean farmers.
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.
High oleic soybeans are bred with the same agronomic trait and disease packages that farmers have in their existing soybean varieties. Because these varieties have been grown in other areas of the U.S. for five years, Nebraska farmers can be confident that they offer competitive yields.
“The genetics in these soybeans will allow them to yield as well as other varieties we’re already growing so there won’t be any yield drag,” Fujan said. “Farmers who have been planting high oleic varieties in the eastern Corn Belt have seen consistent yields similar to elite genetics they currently plant.”
For more information about high oleic soybeans, visit www.SoyInnovation.com.
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. soybean 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.